Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for bankruptcy protection.
Former FTX co-CEO Ryan Salame disclosed “possible mishandling of clients’ assets” by Sam Bankman-Fried to Bahamian regulators just before FTX bankruptcy filing.
Before Crypto.com, Kris Marszalek left behind a trail of personal bankruptcy, offshore payments, and a corporate collapse that separated users from their funds.
Shares of Carvana plummeted by more than 40% after its largest creditors reportedly signed a deal binding them to act together in negotiations.
Months after crypto lender Celsius collapsed, customers with collateral on the platform are waiting for bankruptcy hearings to see what they can recoup.
FTX’s bankruptcy protection case requires an independent review, the DOJ said in a court filing. It could be used to gather evidence on alleged fraud.
Newly appointed FTX CEO John Ray III excoriated Sam Bankman-Fried, declaring he had never seen such a failure of corporate controls or trustworthy information.
In an updated filing Tuesday, FTX said there could be more than one million creditors with claims in its bankruptcy case.
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