Track crypto bankruptcies, restructurings, creditor updates, and court filings tied to failed exchanges, lenders, and digital asset firms.
Core Scientific also received over $50 million from these institutional investors in DIP loans to continue operations during bankruptcy proceedings.
The lawsuit alleges that Genesis violated the Securities Act and seeks to hold DCG and Silbert liable as "control persons."
The uncensored documents show that nearly half of BlockFi's unadjusted assets are linked to FTX and Alameda — more than previously disclosed.
The embattled firm alleged that Ver failed to settle cryptocurrency options trades that expired on Dec. 30, 2022.
The company's plans must still be approved by courts and creditors.
Genesis claim a "behind-the-scenes" collateral agreement discharged the $769 million debt owed to Gemini Earn.
The price of BTC mining rigs fell nearly 85% over the past year, causing some loans to become under-collateralized.
Genesis has "confidence" it can resolve disputes with creditors this week. The lender is looking to exit bankruptcy by May 19.
With earnings going from high to low in 2022, some miners struggled to pay the dues, resulting in more defaults, distressed asset sales, and acquisitions than ever before.
