Bankrupt

Genesis Global Capital LLC has agreed to pay a $21 million civil fine to settle charges that it illegally sold securities through its crypto lending program without registering them, the U.S. Securities and Exchange Commission said on Tuesday.The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program. It was one of a spate of enforcement actions the SEC has taken against large firms in the crypto sector.Elevate Your Tech Prowess with High-Value…

The company behind a phone app for determining a food’s nutritional value has amassed $32 million in debt and still owes back pay to two dozen ex-employees as it shuts down. Opsis Health, of Highlands Ranch, filed for Chapter 7 bankruptcy March 15, less than one year after it launched Plateful, the company’s signature phone app. Chapter 7 requires a company to liquidate its assets and distribute them among those it owes money to. Plateful allows users to scan 1 million foods, then assigns those foods both a nutritional…

The way that Apple has chosen to comply with the new European Union Digital Markets Act (DMA) has come in for scrutiny from multiple sides since it came into force earlier this month, but the company has continued to tweak its new rules since that time. Now, it appears Apple is considering yet more changes, this time to the way its Core Technology Fee functions.The Core Technology Fee is a 0.50 euro fee that app developers must pay when they sign up to Apple's new EU business terms — something they must do to distribute…

Photo by Kindel Media on Pexels.com As Tesla’s NACP and Supercharger network are gaining critical mass, Stellantis and GM charging station partner Charge Enterprises – helmed by a longtime GM and Ford executive – has filed for bankruptcy. The company announced its plans to implement a restructuring plan that will hand its business over to its senior lender, Arena Investors, according to Bloomberg. The company has longtime Ford and GM exec Mark LaNeve on its executive team as president.…

Adam Neumann’s plans for WeWork didn’t quite work out the way he hoped for the first go-around—so, why not try again?Neumann is reportedly trying to purchase the bankrupt WeWork, according to the New York Times‘s DealBook. The famed entrepreneur, who currently leads the real estate startup Flow, previously cofounded WeWork and served as its CEO before being ousted in one of the most spectacular downfalls in Silicon Valley history. More than four years later, Neumann now appears to be working with hedge-fund manager and…

Cryptocurrency exchange Gemini Trust Co said on Saturday that crypto lender Genesis has filed a motion in U.S. Bankruptcy Court authorising a sale of trust assets and seeking authorization to monetize its interests in two Grayscale Ethereum trusts, securities that provide investors exposure to cryptocurrency. The motion filed by Genesis late on Friday seeks authority for Gemini to monetize the initial collateral of 30,905,782 shares of Grayscale Bitcoin Trust, Gemini said. Elevate Your Tech Prowess with High-Value Skill…

The VanMoof X3 was the perfect fit. Both my 6-foot-1 husband and my 5-foot-2 self could ride the e-bike comfortably. We live in Paris, and the X3 had many features to ward off thieves, including an integrated wheel lock, a motion-based alarm and location tracking via Apple’s Find My network.I’ve reviewed a number of e-bikes and ultimately chose VanMoof’s $2,300 X3 because it looked cool and ticked so many boxes. Then, last July, the Dutch e-bike maker declared bankruptcy.Copyright ©2024Dow Jones & Company, Inc. All…

Heavy-duty electric bus maker Proterra Transit just rose from the ashes because Phoenix Motor (Nasdaq: PEV) officially acquired it from bankrupt Proterra Inc. Earlier this week, Phoenix Motor received approval from the US bankruptcy court to close the deal and announced its finalization today. This means that Proterra Transit’s heavy-duty electric transit buses will now be added to Phoenix’s product line of medium-duty electric buses. Denton Peng, CEO of Phoenix, said, “Proterra has a strong…

Guanella Pass Brewing, which has locations in Georgetown and Empire, is bankrupt. The 7-year-old brewery filed for Chapter 11 bankruptcy on Dec. 30. It has $2.3 million in debt, far more than the $860,000 in gross revenue that it earned in 2023. Guanella Pass became Georgetown’s first brewery since Prohibition when it opened in May 2017 at 501 Rose St. in the tiny Clear Creek County town. It has 16 owners, led by Steven and Stacey Skalski of Evergreen, who together are its majority shareholders. Steven Skalski bought 501…

Mark Troller, chief information officer at Tangoe, Inc., brings over 20 years of diverse IT leadership experience from a range of industries, including telecom, cable television, internet advertising, and financial services. As the lynchpin of digital innovation, artificial intelligence holds the future for every forward-leaning business. But while AI and generative AI pave a path toward opportunity, they come with financial sustainability risks that can threaten the durable use…