Tag: creditors
Evergrande creditors press Hui for $2B fund infusion – Bloomberg
FTX Owes Nearly $3.1 Billion to Top 50 of Its 1M Creditors. Celebrity Endorsers Sued
The cryptocurrency exchange FTX owes creditors $3.1 billion, according to court documents filed late Saturday night….
Creditors’ names were not listed on the court filing, but the largest is owed $226,280,579, .
As part of its bankruptcy proceedings, FTX was required to list to the court its 50 largest creditors — either individuals or corporations — who are owed money. The second largest entity is owed $203,292,504, the court filing shows.
A video at the top of the article from ABC News adds that several celebrities “are being sued by a man who invested in the now-bankrupt crypto exchange… The lawyer behind the class claims that FTX was a massive ponzi scheme, only successful because it had a boost from celebrities.”
Meanwhile CNN adds that FTX “owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them.”
The crypto exchange said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses. A hearing on FTX’s so-called first-day motions is set for Tuesday morning before a US bankruptcy judge, according to a separate court filing….
There could be more than 1 million creditors in the US cases that are already filed, FTX Group said, adding that it has been in touch with “dozens” of US and international regulatory agencies including the US Attorney’s Office, the US Securities and Exchange Commission and the Commodity Futures Trading Commission.
Meanwhile, authorities in the Bahamas — where FTX is based — are investigating whether any criminal misconduct occurred related to the company’s implosion, the Royal Bahamas Police Force said in a statement last Sunday. The Bahamian authorities have also taken control of cryptocurrency assets held by FTX Digital Markets, The Bahamas-based FTX unit that filed for Chapter 15 bankruptcy protection Tuesday.
Read more of this story at Slashdot.
FTX crypto exchange owes biggest creditors $3.1bn
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Celsius Creditors Move to Block Company From Selling Mined Bitcoin
What Happens to Celsius Creditors if Crypto Prices Recover? – CoinDesk
Celsius thermometer (Unsplash/Modified by CoinDesk)Suppose bitcoin’s (BTC) price doubles over the coming months. Would the hundreds of thousands of customers whose cryptocurrency assets are frozen within stricken lending platform Celsius Network come out ahead, or just break even?This is uncharted territory for a U.S. bankruptcy court.The high volatility of cryptocurrencies created the extreme market conditions…
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