New lawsuit filings: Genesis creditors accuse Barry Silbert of fraud and propelling the 2022 crypto market collapse by misrepresenting his companies' finances
Kevin T. Dugan / Wall Street Journal :
Court records: FTX paid nearly $948M to 12+ firms working on its bankruptcy, one of the costliest Chapter 11 cases in US history; users are set to get back 118%
- Lack of records, corporate controls sent adviser fees higher — Most creditors poised to get back 118% of what they were owed
Alameda Research co-CEO Sam Trabucco has agreed to hand over a slew of properties, including his yacht, to FTX creditors as part of a November 3 settlement deal
privileges other FTX executives' legal teams did not receive. @historian_ftx : FTX Drama: Trabucco Reaches Sealed Settlement Former Alameda co-CEO Sam Trabucco and FTX Digital Markets CEO Ryan Salame ...
Court filing: FTX and the CFTC agree a $12.7B settlement after months of negotiations, pending a judge's approval; FTX will return up to $12.7B to creditors
Sarah Wynn / The Block :
Sources: LoanSnap, an AI mortgage startup that raised ~$100M, has been sued by at least seven creditors, including Wells Fargo, and state and federal agencies
A US judge approves Genesis Global Capital's Chapter 11 repayment plan to return Bitcoin and other tokens to creditors, defeating a challenge by its parent DCG
- Genesis defeated a challenge by parent Digital Currency Group — Judge also approved a related settlement with the New York AG
A US judge approves Genesis' plan to sell ~$1.6B in Grayscale crypto trust shares to repay creditors, including 35M GBTC shares, worth ~$1.38B
Dietrich Knauth / Reuters :
Filing: Fidelity marks down the value of its X stake, estimating the company is worth ~28% of the $44B that Elon Musk paid, down from 33% in May 2023
yourself’ outburst Kwan Wei Kevin Tan / Business Insider : X is worth 71% less now after Elon Musk took over and burned its bridges with advertisers: Fidelity Anders Hagstrom / Fox Business : X now wo...
Sources: 3AC co-founder Su Zhu for the first time faced questioning in a Singapore court about the fund's collapse; Teneo estimates 3AC owes creditors ~$3.3B
- Failed crypto fund's co-founder Zhu was arrested in September — Liquidators seek information for creditors owed $3.3 billion
Court filing: crypto lender Genesis sues the Winklevoss' exchange Gemini Trust to recover $689M, alleging Gemini made preferential transfers to other creditors
Amitoj Singh / CoinDesk :