Creditors

Amitoj Singh / CoinDesk: Court filing: crypto lender Genesis sues the Winklevoss' exchange Gemini Trust to recover $689M, alleging Gemini made preferential transfers to other creditors — Genesis and Gemini have been embroiled in a public and legal feud since the collapse of FTX. — Register Now Amitoj Singh / CoinDesk: Court filing: crypto lender Genesis sues the Winklevoss' exchange Gemini Trust to recover $689M, alleging Gemini made preferential transfers to other…

A Denver judge has ordered that $174,000 belonging to accused fraudster Steve Bachar must be split among people he owes $5.5 million to rather than be returned to him. District Court Judge Kandace Gerdes’ order ends a four-month-long dispute involving a restitution check, a theft victim who didn’t want it and several unrelated victims who did. In March, Bachar turned over $174,370 to the Denver District Court as part of a plea agreement for felony and misdemeanor theft. The money was supposed to go to Jamie Lindsay, a…

In January this year, the lending unit of Genesis filed for US bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi (Illustration: Rahul Awasthi)Digital Currency Group (DCG) said on Tuesday some creditors of its bankrupt unit Genesis Capital have decided to walk away from a prior restructuring agreement for the cryptocurrency lender. DCG, a conglomerate in the digital asset space, had been looking to sell Genesis to repay some of the $3.4 billion, at a…

Twitter’s head of trust and safety breaks protocol to appease Elon Musk’s whims! Read more tech news Good Morning tech fam, here are some quick tech updates for you to catch on to! What’s New Today: Report: Start-Ups Claim Google is Using “Delaying Tactics,” and Policy Changes are “Cosmetic In Nature.” Fast-Track Insights: Bitcoin Miner Sales Fall to Three-Year Lows as Capitulation Fears Disappear – What Does This Mean for the Price of Bitcoin? Ella Irwin arrived with a pep talk…

The FTX creditor list also named the Miami-based Basketball Properties LTD as a creditor. FTX bought the rights to the home of the Miami Heat’s home arena for $135 million in 2021. The Miami-Dade County government has since terminated that 19-year contract.Photo: Joe Raedle (Getty Images)The ongoing Chapter 11 bankruptcy of FTX is still trying to claw back the billions of dollars needed to make customers and investors whole. One problem with this lofty goal is the nearly 10 million FTX customers who still had funds on the…

The Securities Commission of the Bahamas said that it is holding FTX assets worth $3.5 billion based on market pricing at the time of transfer on a temporary basis to deliver them to customers and creditors who own them. FTX's Bahamas unit's digital assets were transferred to digital wallets under the exclusive control of the commission in November soon after the company and its hedge fund Alameda Research and dozens of affiliates filed for US bankruptcy. Upon completion of the transfer, FTX founders Sam Bankman-Fried…

Investors in online used-car seller Carvana Co. CVNA 15.29% say they are frustrated at how executives handled the company’s downturn and are anxious about being pushed aside in a restructuring that could potentially involve the chief executive’s father, the company’s biggest shareholder.Carvana soared in the pandemic and like other big winners of that time it vastly overestimated its growth potential. Carvana, though, loaded up on debt to fund the expansion, leaving it…

Twitter welcomes Kanye West after his ‘verbal fast’ for almost 30 days! Read more tech news below Good morning tech fam, here are some quick tech updates for you to catch on to! What’s New Today: Google Maps will soon introduce an AR-based search feature for Maps in September. The company is preparing to roll out the upgrade for select cities. Fast-Track Insights: The Korea Financial Intelligence Unit has noticed that listing native cryptocurrencies has led to the demise of several exchanges and ecosystems this year…

Fast News FTX and its affiliates filed for bankruptcy in Delaware on November 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars. A hearing on FTX's so-called first-day motions is set…

Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion. Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion.The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups,…