Topic: Virtual currency

Voyager restarts bidding process as FTX founder faces lawsuit in Miami

Bankrupt cryptocurrency brokerage Voyager Digital has reopened the Chapter 11 bidding process for its assets, having confirmed hours after FTX entered bankruptcy last week that their US$1.4 billion court-sanctioned deal had collapsed.

16 November 2022

Crypto’s “Lehman” moment? FTX enters Chapter 11 after filings in Bahamas and Australia

The world’s second largest cryptocurrency institution FTX has filed for bankruptcy protection in the US after a tumultuous week, with lawyers expecting fresh regulation for digital assets among what some are calling crypto’s “Lehman” moment.

11 November 2022

FSB proposes post-Terra collapse crypto regulatory framework

The international Financial Stability Board has published a long-awaited proposed framework for the regulation of crypto-assets, at the head of what practitioners predict will be an avalanche of regulatory attention following the collapse of the Terra stablecoin earlier this year.

14 October 2022

Crypto round-up: Voyager agrees sale, Celsius CEO resigns and CoinFLEX wins creditor support

Bankrupt crypto brokerage Voyager has accepted a US$1.4 billion bid for its digital assets, while exchange platform CoinFLEX has secured creditor backing to restructure in the Seychelles, the CEO of US-headquartered Celsius Network has resigned in the middle of its Chapter 11 case and Interpol has issued a red notice against Terra/Luna creator Do Kwon.

28 September 2022

Celsius faces new adversary claim as Ch11 court prepares to decide which assets fall in estate

Crypto platform Celsius is facing a new adversary claim in Manhattan from holders of around US$22.5 million in so-called “custody wallets”, who say they retain title to their digital assets unlike other depositors and should be exempted from its pause on withdrawals – just as the debtor asked its Chapter 11 judge for permission to return US$50 million in such accounts.

05 September 2022

Canadian “Crypto King” set to lose crown in involuntary bankruptcy

A cryptocurrency investment company and its 23-year-old founder have been declared bankrupt by a Canadian court, a month after it froze all his assets finding he had been trying to liquidate and move them.

26 August 2022

Voyager Ch11 recognised in Canada as New York court approves customer returns

Canadian cryptocurrency brokerage Voyager Digital has secured recognition of its Chapter 11 bankruptcy as a foreign main proceeding in Toronto, on the same day a New York court granted it permission to return US$270 million to customers from two custodial accounts.

05 August 2022

Crypto Lender Vauld secures three-month moratorium in Singapore

Singapore-headquartered cryptocurrency lender Vauld has won a three-month moratorium in the Lion City, blocking potential winding up actions and other proceedings against its parent company while it negotiates a sale.

03 August 2022

Singaporean crypto platform Zipmex taps Morgan Lewis Stamford for moratoria

Digital assets group Zipmex has filed moratorium applications in Singapore for five of its international entities a week after it paused customer withdrawals, saying they would give it “the breathing space and time it requires” to restructure its debts.

01 August 2022

International dispute over Mt Gox accounts puts spotlight on trustee’s uphill task

A dispute between a US-resident director and his Australian former employer over cryptocurrency held in two accounts with the collapsed Japanese exchange Mt Gox, has cast a light on some of the difficulties facing the exchange’s rehabilitation trustee as he finally gears up to repay creditors eight years down the line.

28 July 2022

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