FTX Bankruptcy: Hacked, regulated or rug-pulled as traders despair
Observers noticed on-chain records showing "hundreds of millions of dollars" worth of digital assets began leaving the FTX exchange’s wallets late on Friday night.
Observers noticed on-chain records showing "hundreds of millions of dollars" worth of digital assets began leaving the FTX exchange’s wallets late on Friday night.
The FTX exchange may have filed for bankruptcy protection but there’s no real defense against the sector-wide carnage this scandal has unleashed.
A few months ago, FTX CEO Sam Bankman-Fried was seen as a savior, but now some see him as a villain trying to corner the digital asset market by snapping up its failing projects at bargain prices.
A U.S. federal judge has ordered the examiner and the official committee of Celsius creditors to determine who would head the probe.
Another controversy hits Celsius Network following a media outlet's exposé claiming that chief Alex Mashinsky had withdrawn $10 million from the platform before filing for bankruptcy protection.
The order appoints Shoba Pillay to provide the court with a detailed report of Celsius' financial dealings and the condition of its mining business within a stipulated time frame.
Months of speculation ended as Celsius CEO Alex Mashinsky steps down from his post amidst an ongoing probe, which comes at the heels of the arrest of controversial Terra founder Do Kwon.
Compute North operates data centers for miners, including Marathon Digital and Hive Blockchain, but a $300 million loan has made it the latest bear market casualty.
Intense scrutiny awaits Celsius with the U.S. court's approval to hire an examiner to look into its dealings, which comes amid optimism that the company could recover from the brink of bankruptcy.
Attorneys for the bankrupt lender also revealed that they were in support of the trustee’s request to appoint of an independent examiner to probe the firm.
Zipmex explains that the application does not imply the liquidation of any entities, but it helps protect the company against third-party actions, claims, and proceeding.
Singapore-registered/India-based Vauld filed an application for a moratorium order under section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018, seeking a six-month pause on any order or resolution.