The Bahamian securities regulator clarified it directed FTX to move its digital assets to a wallet owned by the commission on Nov. 12. The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov.…
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Three members of a Sydney-based investment and advisory firm are assigned to help Australians impacted by the suspension of the local entity of Sam Bankman-Fried’s former crypto empire. Australia’s financial markets regulator has suspended FTX Australia’s financial license following the appointment of a voluntary administrator to help nearly 30,000 Australians and 132 Australian companies get…
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In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent roughly $74 million on real estate purchases in the surrounding Albany Bahamas oceanside district. Bahama Mansion Called the ‘Orchid…
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Marathon has outlined that at this stage its operations hosted by Compute North will continue to operate as usual, and highlighted an improved BTC mining production in Q3. Bitcoin (BTC) miner Marathon Digital Holdings has revealed $81.3 million worth of exposure to recently bankrupted mining hosting provider Compute North. Marathon provided a breakdown of its…
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On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12,…
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According to leaked audio obtained by CNBC, the crypto lender Celsius wants to create an IOU cryptocurrency in order to pay clients back. The audio was provided by a Celsius customer and the recording explains the bankrupt crypto lender wants to create a form of “wrapped tokens” that represents a ratio of what customers are…
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Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter 11 Bankruptcy Protection Five…
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Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege…
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The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back. Celsius’ bankruptcy filing has revealed some unpleasant surprises about the state of the crypto lending platform, including a $1.2 billion deficit formed largely as a…
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During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto…
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