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” Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated “ A lawyer for BlockFi told the first day hearing of its bankruptcy proceedings that the crypto lender has $355 million stuck on FTX and that the collapsed exchange’s sister company Alameda Research has defaulted on a $680 million loan. BlockFi filed…
” FTX names Kroll as claims agent, to update users on bankruptcy developments “ Bankrupt crypto exchange FTX has appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case. Known as the “claims and noticing agent,” Kroll…
” Sam Bankman-Fried says he regrets filing for bankruptcy: Report “ The former CEO of FTX Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it his “biggest single fuckup.” In a wide-ranging interview with VOX which was published on Nov. 16, Bankman-Fried reportedly answered questions on a number…
” FTX downfall was a turning point for citizen journalism: Coinbase CEO “ Coinbase CEO and co-founder Brian Armstrong have applauded the work of citizen journalists and blockchain analysts surrounding the unfolding FTX crisis and its former CEO Sam Bankman-Fried. In a Nov. 16 tweet that has been retweeted over 9,000 times at the time…
” Maple Finance CEO: Separating risk from lending saved DeFi from market crash “ Maple Finance co-founder and CEO Sid Powell says that transparency has been the saving grace of decentralized finance (DeFi) amid the prolonged crypto market slump. Speaking to Cointelegraph on the sidelines of the Converge22 conference in San Francisco, Powell noted that,…
” Amid crypto winter, Nexo commits additional $50M to buyback program “ Crypto lending platform Nexo has increased the size of its buyback program, giving the company more discretionary ability to repurchase its native token to boost interest payments or make strategic investments in the future. On Tuesday, Nexo disclosed that its board of directors…
” DeFi needs a ‘killer app’ to go next level, says Ripple exec “ A “killer app” for consumers is what will be needed to bring the decentralized finance (DeFi) sector to a level that draws in a mainstream audience, said Ripple Lab’s head of DeFi markets Boris Alergant. Alergant nade the comments during a…
” Voyager rejects Alameda buyout offer as it ‘harms customers’ “ Centralized crypto lender Voyager Digital Holdings has rejected an offer from FTX and its investment arm Alameda Ventures to buyout its digital assets on the grounds that the actions “are not value-maximizing” and potentially “harms customers.” In a rejection letter filed in court on…
” Voyager Digital files for Chapter 11 bankruptcy, proposes recovery plan “ Days after pausing trading, withdrawals and deposits, crypto exchange Voyager Digital is filing for bankruptcy under Chapter 11 in the Southern District Court of New York. Voyager’s Chapter 11 bankruptcy filing indicated that it is on the hook for anywhere from $1 billion…
” CoinFLEX recovery plan includes tokenized bad debt and more yields “ Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 million token offering. The new token is known as Recovery Value USD (rvUSD) and will be worth $1 each. It…