Celsius Users with Stuck Crypto Collateral Turn to Bankruptcy Process

Celsius Users with Stuck Crypto Collateral Turn to Bankruptcy Process

Alan Knitowski has an MBA, has worked in technology and finance for over 25 years, and is CEO of a Nasdaq-listed mobile software company. That didn’t stop a crypto company from tricking him. Knitowski borrowed $375,000 from crypto lender Celsius over several years and deposited $1.5 million into bitcoins As collateral. He didn’t want to … Read more

Justice Department Watchdog Calls for Review of Crypto Fraud Allegations

Justice Department Watchdog Calls for Review of Crypto Fraud Allegations

John Ray, CEO of FTX Cryptocurrency Derivatives Exchange, arrives at bankruptcy court in Wilmington, Delaware, USA, on Tuesday, November 22, 2022. eric reads | Mayor Bloomberg | fake images The Justice Department has requested that an independent examiner be appointed to review “substantial and serious allegations of fraud, dishonesty” and “incompetence” after the implosion of … Read more

BlockFi Files for Bankruptcy as FTX Fallout Spreads

BlockFi Files for Bankruptcy as FTX Fallout Spreads

The BlockFi logo displayed on a phone screen and the representation of cryptocurrency are seen in this illustrative photo taken in Krakow, Poland on November 14, 2022. Jakub Porzycki | Nurfoto | fake images Struggling crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of … Read more

FTX will sell or restructure global empire, CEO says

FTX will sell or restructure global empire, CEO says

FTX’s new CEO said Saturday that the bankrupt cryptocurrency exchange is looking to sell or restructure its global empire, even as Bahamian regulators and FTX squabble over court documents and press releases over whether the bankruptcy filing should proceed in New York or Delaware. “Based on our review last week, we are pleased to learn … Read more