FTX has warned its investors, customers and the crypto-world that they may have to file for bankruptcy protection without rescue financing to address its immediate liquidity crisis. Unlike the bankruptcy cases of Celsius and Voyager, FTX’s case, should it file, will likely involve many institutional investors with secured and unsecured claims. These institutional investors
Bankruptcy
Celsius Contagion?: Another Crypto Miner Expected to File Bankruptcy
By Frederick (Rick) Hyman on
Posted in cryptocurrency
In an earlier post we discussed the bankruptcy filing of Compute North Holdings, Inc., a bitcoin miner felled by high electricity costs and falling cryptocurrency prices (see here). It may be followed shortly by another miner, Core Scientific, Inc., which announced on October 26, 2022 that it has similarly been severely impacted by rising…
Celsius Update
Posted in cryptocurrency
In the short time since we last provided an update regarding the bankruptcy cases of Celsius Networks LLC and its affiliates (here), there have been a number of material developments to report.
- As ordered by the court, the debtors filed copies of all versions of Celsius’ Terms of Use that have been in
Celsius Networks’ Bankruptcy Case Update: It’s Still Early Days
Posted in cryptocurrency, Uncategorized
Now that their bankruptcy filing is a few weeks behind us, we provide below an update on certain matters of interest in the case of Celsius Networks and its affiliates. Of course, it’s still very early in the bankruptcy case — and in cryptocurrency cases in general — but we have already heard from many distressed…