FTX wants permission to sell FTX Japan and FTX Europe as well as LedgerX
On Dec. 15 lawyers representing FTX filed a motion with the United States Bankruptcy Court seeking permission to sell off the firm’s Japanese and European branches, derivatives exchange LedgerX and stock-clearing platform Embed. The lawyers note that each of these businesses have been under pressure from regulators, which “merit[s] an expeditious sale process,” adding: “The […]
FTX resumes employee and contractor payments after weeks in limbo
Bankrupt crypto exchange FTX has announced it will be “resuming ordinary” cash payments, salaries and benefits to its remaining employees around the world. The announcement came from new FTX CEO John Ray III on Nov. 28, as the insolvency professional looks to help FTX and its approximated 101 affiliated companies (FTX Debtors) navigate their way […]
Ripple, SEC case heads for conclusion after ‘summary judgment’ filed
The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have both called for a federal judge to make an immediate ruling on whether Ripple’s XRP sales violated U.S. securities laws. In separate motions filed on Sept. 17 by Ripple and the SEC, both have called for a summary judgment in the U.S. District Court […]
Celsius files to reopen withdrawals for a minority of customers
Beleaguered crypto lender Celsius Network has filed a motion with the United States Bankruptcy Court yesterday to allow customers with digital assets held in certain accounts to be withdrawn. There’s a catch, however, as the motion will only apply to Custody and Withold Accounts and for custodied assets worth $7,575 or less in value. Celsius […]