Bankruptcy

The crypto crash has claimed another corporate victim: Celsius Network has filed for Chapter 11 bankruptcy protection. The crypto lending company’s future has been in question ever since it abruptly halted all withdrawals and transfers exactly one month ago. It now hopes to continue operating with its remaining $167 million in cash while bankruptcy courts restructure the company. According to Celsius Network’s filing, the company has between $1 billion and $10 billion in assets but owes a similar amount. The five…

Celsius recently re-hired its legal team amid growing chaos pertaining to lawsuits and debts Well-renowned crypto company Celsius has hired lawyers from Kirkland and Ellis LLP to counsel the executives on its restructuring options, the same was suggested to Voyager Digital when the company filed for its bankruptcy. Kirkland and Ellis LLP claim to be an international law firm that serves clients in private equity, M&A, and other corporate transactions. Apparently, Celsius has hired lawyers to attain advice on…

Crypto industry is witnessing a carnage. Popular crypto tokens such as Bitcoin and Ethereum have nosedived by nearly 70% from their record highs amid the economic meltdown. As the turmoil in the industry continues, some of the biggest Crypto companies are cutting jobs, filing for bankruptcy and more. Here are some such big names that have laid off employees, freezed withdrawals or filed for bankruptcy. Crypto industry is witnessing a carnage. Popular crypto tokens such as Bitcoin and Ethereum have nosedived by nearly…

The father-son team behind a hops wholesale company has faced tough years recently: first falling prey to a foreign scam, then grappling with legal action against two corporate giants. Now, Randall and Tase Flores, the pair behind US Hop Source in Englewood, fear bankruptcy is their only way forward. The trouble started in the fall of 2020 when US Hop Source received a request for a price quote on 1,100 pounds of hops from a so-called Marcos Estrada of Estrada and Sons for a new brewery being built in Panama City, Panama.…

Voyager Digital is ready to file bankruptcy for the welfare of shareholders and customers The recent crypto crash cases of Bitcoin, Ethereum, and other stablecoins like Tether and Terra have created a panic situation among crypto investors in the unstable cryptocurrency market. Meanwhile, a leading cryptocurrency lender known as Voyager Digital has announced the bankruptcy filing with a mission to use it as a revival plan. Voyager Digital CEO, Stephen Ehrlich, has high hopes that there will be a strong comeback of…

The US crypto lender Voyager Digital said that it had filed for bankruptcy, becoming another casualty of a dramatic fall in prices that has shaken the cryptocurrency sector. Crypto lenders such as Voyager boomed in the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. However, the recent slump in crypto markets-sparked by the downfall of two major tokens in May-has hurt lenders. New Jersey-based Celsius in June froze withdrawals and has hired…

Cryptocurrency broker Voyager Digital filed for bankruptcy on Tuesday in the wake of the collapse of the major crypto hedge fund Three Arrows Capital (3AC). Voyager’s Chapter 11 filing comes just days after 3AC filed for bankruptcy — and about a week after 3AC defaulted on a loan provided by Voyager. In a press release, Voyager Digital states that it has about $1.3 billion worth of crypto assets on the platform, $110 million in cash and crypto assets on hand, and the $350 million it holds in an FBO (For-Benefit-Of)…

Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York's Metropolitan Commercial Bank.Justin Sullivan | Getty ImagesBeleaguered crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset markets.Voyager commenced bankruptcy proceedings in the U.S. Bankruptcy Court of the Southern District of New York on Tuesday, according to a filing from the company. The filing…

Scandinavian airline SASAB has filed for bankruptcy protection in the U.S., saying a move by about 1,000 of its pilots to go on strike would worsen its already fraught finances—becoming one of the first casualties during a chaotic recovery in air travel.The company said Tuesday that it would continue to operate during the voluntary restructuring process, but that the staff walkout would lead it to cancel around 50% of its flights daily. SAS said it expects the Chapter 11 court process to last between nine and 12 months.…

Did you Know? Tom Cruise Is Credited For Saving the Ray-Ban Brand – Here’s How & Why ( Photo Credit – Facebook ) Tom Cruise is one of the top actors in Hollywood. The star who began his acting career in Hollywood with Taps in 1981 (he had a cameo in Endless Love also 1981) can still give younger actors a run for their money with action-packed films like Top Gun and Mission: Impossible. Today, as the Golden Globes winner turns 60 (can you believe that!), we tell you of the time he helped save a…