Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
Thodex, once among Turkey's leading cryptocurrency exchanges, abruptly ceased operations in April 2021, coinciding with the disappearance of its founder, Özer.
Sen. Bill Hagerty, a member of the Senate Banking Committee from the Republican party, advocates for a more comprehensive examination of the relationship between the securities regulator and the digital assets sector.
Here are the major crypto firms to file for bankruptcy over the last year (listed in reverse chronological order). One of the largest crypto lenders, Genesis froze customer redemptions in November after major exchange FTX stunned the financial world with its bankruptcy. The company is owned by U.S. venture capital firm Digital Currency Group.
Second, once in bankruptcy, it is up to the bankruptcy process to determine: (i) the priority of creditors; and (ii) the valuation of assets – two novel tasks in the crypto world.
Crypto lender BlockFi was the first crypto company to follow FTX into bankruptcy, filing for Chapter 11 about two weeks after FTX's collapse.
There have already been multiple global crypto platforms that have filed for bankruptcy, and the list is expected to grow. With all of these companies currently not able to pay their customers back, they’re essentially bringing their users down with them. Which crypto companies have filed for bankruptcy?
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