Tag: Firm

Third parties could return FTX funds directly to customers: Law firm

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More than one million creditors of failed crypto exchange FTX have been waiting to be made whole since before the firm’s bankruptcy filing on Nov. 11, but according to one expert, recipients of donations and contributions may have a legal means of returning the funds directly to investors and customers.  Louise Abbott, a partner at United Kingdom-based firm Keystone Law, told Cointelegraph it was “extremely unlikely” FTX would have a legal leg to stand on in its demands for the voluntary return of political campaign donations, grants, and other contributions…

FTX Creditors Hire Law Firm Paul Hastings as Representation: WSJ

“They can be contacted,” said Sarkessian, a U.S Department of Justice (DoJ) official charged with overseeing bankruptcy cases, of the lawyers that were yet to be appointed. “They do not represent you [the creditors] personally. They may be able to provide some help though, and they may even create their own website potentially for information for creditors.” Source

Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt – Mining Bitcoin News

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On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter 11 Bankruptcy Protection, Company’s Largest Unsecured Creditor Is the Financial Institution B. Riley Another crypto firm has filed for bankruptcy protection as the crypto winter has caused a myriad of businesses to shudder this year.…

Staggering $3,200,000,000 in Stablecoins Exit Crypto Exchange Binance in 30 Days: Analytics Firm Glassnode

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Leading analytics firm Glassnode says billions of dollars worth of stablecoins are being withdrawn from top crypto exchange Binance. Glassnode says that Binance has witnessed $3.2 billion in combined outflows of Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Dai (DAI) in a 30-day period. Source: Glassnode/Twitter Based on Glassnode’s chart, Binance’s net outflows of dollar-pegged crypto assets this month appear to be the highest rate of stablecoin withdrawal in nearly three years. Traders and investors have been taking off crypto assets from digital asset exchanges following the high-profile…

Crypto investment firm CoinShares debuts trading on Nasdaq Stockholm

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Major cryptocurrency investment firm CoinShares has debuted trading on Nasdaq Stockholm, the primary securities exchange of the Nordic countries. CoinShares officially announced on Dec. 19, the first day of trading on Nasdaq Stockholm’s main market, with CoinShares’ stock starting trading on the exchange under the ticker CS. The latest trading debut marks a change of listing venue for CoinShares’ stocks. Previously, CS shares were traded on the Nasdaq First North Growth Market, an alternative stock exchange for small and medium-sized companies in Europe. CoinShares first went public by listing its…

Software Firm Consensys Partners With Paypal, Metamask Users Can Use Payment Processor to Buy ETH – Bitcoin News

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On Dec. 14, the Ethereum software firm Consensys announced that the company has teamed up with the payment processing giant Paypal. The integration allows Metamask wallet users to purchase ethereum via Paypal from within the Web3 wallet application. Consensys Teams up With Payments Giant Paypal According to Consensys, Metamask users can now purchase ethereum (ETH) using the payment provider Paypal. The financial technology company Paypal started offering cryptocurrency services in 2021 and the company’s CEO detailed that demand for crypto outstripped initial expectations. The Ethereum software firm Consensys explained Wednesday…

Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News

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The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. Mazars Group Pauses Crypto Company Audits, Binance POR Scrubbed From the Web Reports detailed on Dec. 16, 2022, that the accounting firm Mazars Group has paused doing POR audits for cryptocurrency exchanges. On Friday, a Binance spokesperson told CNBC that “Mazars has…