Tag: bankruptcy

December 07, 2023 BY Simon Mugo

FTX Plans To Unveil Its Reorganisation Plan Soon

The initiative comes during intense developments within FTX’s bankruptcy process. The Official Committee of Unsecured Creditors has recently addressed insights from the FTX 2.0 Customer Ad Hoc Committee. They are focused on striking a fair equilibrium between the valuation and distribution of assets in the proposed reorganisation plan, a crucial element in determining the future…

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November 21, 2023 BY Simon Mugo

Bittrex Ceases Its Operations for Good After the US Bankruptcy

Yet another cryptocurrency exchange has decided to exit the market, as Bittrex Global, originally hailing from Liechtenstein, has declared its intention to halt trading and operations involving US dollars from the start of December. ______________________________________________________________________ Don’t miss out the latest news, subscribe to LeapRate’s newsletter _______________________________________________________________________ The move follows a series of actions initiated by…

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Bankruptcy chapter 11
May 09, 2023 BY Steffy Bogdanova

Crypto exchange Bittrex files for bankruptcy

As per the court documents, the bankruptcy petition includes Bittrex, Inc, which is based in Seattle, as well as two Bittrex entities located in Malta and an affiliated entity, Desolation Holdings LLC. However, the proceedings do not involve Bittrex Global GmbH, the Liechtenstein-based entity that provides non-US services. Bittrex has reported that over 100,000 creditors…

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Bankruptcy chapter 11
January 20, 2023 BY Steffy Bogdanova

Genesis Global files for bankruptcy

Paul Aronzon, an independent director at Genesis, said: We have crafted a deliberate process and roadmap through which we believe we can reach the best solution for clients and other stakeholders. We look forward to advancing our dialogue with DCG and our creditors’ advisors as we seek to implement a path to maximize value and…

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