Coverage of bankruptcies and restructurings reshaping the digital asset and financial sectors.
FTX’s fourth creditor distribution will inject roughly $2.2 billion into the market at a moment when Bitcoin is already trading under pressure from a deteriorating macro backdrop.
In the wake of the FTX collapse, withdrawals from Silvergate spiked, and its deposits fell by $3.8 billion at the end of 2022.
The lawmakers argued that Sullivan & Cromwell previously advised FTX on various legal matters and is in no position to investigate the bankrupt firm.
