Digital Currency Group Owes Genesis Trading Arm $575 Million by May
Digital Currency Group (DCG) CEO Barry Silbert recently shared a letter with investors illuminating the cryptocurrency conglomerate’s web of external and intercompany loans. Among them is a newly disclosed liability of $575 million to its lending subsidiary Genesis, due by May of 2023.
Press Release: FTX Receives Court Approval for "First Day" Motions
CEO John Ray said FTX has already begun receiving interest from potential buyers for assets and FTX will conduct an orderly process to reorganize or sell FTX assets around the world for the benefit of stakeholders.
Tron’s Justin Sun Is Looking To Buy FTX’s Assets
Justin Sun and his associates are reportedly evaluating the possibilities of purchasing assets from the recently collapsed FTX crypto exchange.
Bahamas Property Worth $121 Million Acquired by FTX, SBF’s Parents, Report Unveils
Bankrupt crypto exchange FTX and its founder’s parents have purchased properties for almost $121 million in the Bahamas, according to a media report.
FTX Is Allowed to Hide the Identity of Its 50 Biggest Creditors
US Bankruptcy Judge John Dorsey agreed to let the fallen crypto exchange redact the names of the 50 biggest unsecured creditors owed a total of $3.1 billion. The US Bankruptcy Code normally requires the names be filed in documents available to the public. Representatives for FTX argued those creditors are also customers and disclosure would allow rivals to steal their business.
To Fund Its Bankruptcy, FTX Plans to Sell Off It's Healthy Business Units
A lawyer for FTX said at a bankruptcy hearing on Tuesday that the company now intends to sell off healthy business units but has been the subject of cyberattacks and had "substantial" assets missing.
FTX Bankruptcy Judge Says Creditor Information Can Be Redacted – At Least for Now
FTX creditors concerned about their names and other personal information being disclosed as part of the crypto exchange’s bankruptcy proceedings can breathe a sigh of relief – at least temporarily. Delaware District Court Judge John Dorsey approved a motion on an interim basis allowing FTX to redact information including names and addresses on its creditor matrix during a hearing Tuesday.
Chainlink: How the FTX Crash Turned Out To Be a Silver Lining for LINK
<a href="https://ambcrypto.com/?s=Chainlink">Chainlink’s [LINK]</a> response to the <a href="https://ambcrypto.com/ftt-collapse-post-mortem-how-ftx-was-led-by-kids-with-no-experience/">FTX collapse</a> that spread wreckage round the market has been full of favor. While panic became the order of the day, it was not the circumstance for LINK.
Bankman-Fried Apologizes to FTX Employees, Details Amount of Leverage in Internal Letter
FTX founder Sam Bankman-Fried apologized to his employees and offered his explanation of why the crypto exchange collapsed in a two-page letter circulated among his former colleagues.
FTX Bankruptcy Hearing: Lawyers Detail the 'Abrupt and Difficult' Collapse of FTX
James Bromley, of Sullivan and Cromwell who is representing FTX, detailed the company’s rise and collapse in a brief presentation during the hearing, explaining how the company fell apart within the course of two weeks after <a href="https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/">a CoinDesk report</a> showed that Alameda Research, a subsidiary of the overall FTX group, held an unexpectedly large amount of FTT tokens, issued by FTX itself.
