Bankruptcy
Mike Novogratz Seeking More Crypto Bankruptcy Assets: Financial Times
“We have a crypto venture team that has been investing off our balance sheet for five years,” Kurz said, according to the newspaper. “The record that we have on that side of our asset management business means we’d be a good candidate for something like that.” Source link
FTX Files Reorganization Plan to End Bankruptcy
In the new proposal, creditor and customer claims are classed according to the priority the estate plans to give them, and the value of claims will be calculated based on asset prices as of the date the company filed for bankruptcy. In a separate statement, the estate said the plan was designed to “maximize and…
Crypto Firm SafeMoon Files for Chapter 7 Bankruptcy, SFM Plunges 42%
The firm’s executives were arrested last month on multiple charges. Source link
FTX Bankruptcy Judge Takes Step to Shorten Timeline for Customers’ Recoveries
U.S. Judge John Dorsey, from the Delaware Bankruptcy Court, scheduled a hearing for early next year to calculate the crypto exchange’s debt to the IRS, a sticking point that has stagnated efforts to remunerate the exchange’s many victims. As FTX’s largest creditor, the IRS’ claim must be resolved before FTX victim’s can recover their losses….