News & Analysis as of

Crypto Exchanges Cryptocurrency Commercial Bankruptcy

Seward & Kissel LLP

Grand Salame, Making a Statement, Many Happy Returns, and Going Yardi

Seward & Kissel LLP on

Ex-FTX Executive Salame Sentenced to 7.5 Years in Prison | Reuters - Former co-CEO of bankrupt cryptocurrency exchange FTX’s Bahamian subsidiary has been sentenced to 90 months in prison after pleading guilty in September...more

Seward & Kissel LLP

[Hybrid Event] Blockchain Symposium: Spring Crypto | Crypto Spring - March 27th, New York, NY

Seward & Kissel LLP on

Please join Seward and Kissel's Blockchain & Cryptocurrency Group on Wednesday, March 27, 2024 for the S&K Blockchain Symposium: Spring Crypto | Crypto Spring....more

Stinson LLP

FTX Fallout: How Sponsorship Partners are Moving Forward

Stinson LLP on

Prior to its collapse, cryptocurrency exchange FTX spent millions in sponsorship dollars securing the naming and promotional rights to National Basketball Association stadiums, Formula 1 organizations, esports teams and...more

Orrick, Herrington & Sutcliffe LLP

CFTC commissioner discusses crypto exchange’s collapse

On January 18, CFTC Commissioner Christy Goldsmith Romero spoke before the Wharton School and the University of Pennsylvania Carey Law School on lessons learned from the recent bankruptcy of a cryptocurrency exchange, calling...more

Polsinelli

Court Rules that Earn Account Assets are Property of the Debtor: Celsius Bankruptcy Case: January 13, 2023

Polsinelli on

Court rules that Earn Account Cryptocurrency is owned by Debtors and will not be returned - In our latest Bitblog update regarding the Celsius Network LLC, et al. (the “Debtors”) bankruptcy proceeding (Case No. Number:...more

Cadwalader, Wickersham & Taft LLP

Celsius Earn Depositors May Be Left Cold by Crypto Ownership Ruling

The “crypto winter” of 2022 brought a bear market and a recent wave of bankruptcies to the crypto industry, leaving some retail customers of crypto exchanges frozen out of their accounts.  As the bankruptcy filings mounted...more

Dorsey & Whitney LLP

Maybe We Should Call It Cryptic Currency?

Dorsey & Whitney LLP on

Notwithstanding that cryptocurrency is generally in the cloud, crypto purists will say that cryptocurrency is as valuable as dollar bills. However, the recent bankruptcy filings of five major crypto companies, including...more

The Volkov Law Group

Bankruptcy Proceedings Reveal Shocking Lack of Controls at Disgraced Cryptocurrency Exchange FTX (IV of IV)

The Volkov Law Group on

On top of all the legal trouble for FTX’s founder and CEO, Sam Bankman-Fried (“SBF”), the company has also filed for bankruptcy and SBF has been ousted as CEO.  John J. Ray III, an attorney and bankruptcy professional, has...more

Farrell Fritz, P.C.

FTX, Sam Bankman-Fried and the Risk of Unchecked Founder Control

Farrell Fritz, P.C. on

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”.  Such was the lament of John Ray, the legendary restructuring...more

The Volkov Law Group

The Department of Justice Charges FTX CEO Sam Bankman-Fried in the Southern District of New York (II of IV)

The Volkov Law Group on

Following FTX’s stunning collapse, federal prosecutors have quickly taken steps to hold FTX’s founder and CEO Sam Bankman-Fried (“SBF”) accountable. On December 13, the Department of Justice (“DOJ”) announced a criminal...more

The Volkov Law Group

The Fall of FTX: The Legal Ramifications of the Collapse of Sam Bankman-Fried’s Cryptocurrency Empire (I of IV)

The Volkov Law Group on

The cryptocurrency world is in shock watching the events unfold around the stunning collapse of FTX, one of the largest crypto exchanges in the world.  The exchange seemed untouchable just days before everything fell apart. ...more

Wilson Sonsini Goodrich & Rosati

SEC Disclosure Considerations Arising from Recent Developments in Crypto Asset Markets

The staff of the Division of Corporation Finance at the U.S. Securities and Exchange Commission (SEC) recently provided guidance for public companies regarding disclosures pertaining to recent developments in crypto asset...more

Goldberg Segalla

While the Crypto Financial World Burns, New York Passes Law Preventing Crypto Miners from Burning More Fossil Fuels

Goldberg Segalla on

A few weeks after her election as New York’s first female governor, and a couple days before New Yorkers sat down to Thanksgiving dinner, Gov. Kathy Hochul on Nov. 22 finally signed an environmental conservation moratorium on...more

Sullivan & Worcester

Zero Degrees Celsius: The Effects of a "Crypto Winter" and Celsius’ Bankruptcy on Crypto Customers

Sullivan & Worcester on

Part 1 – Celsius Bankruptcy - The Celsius Network was conceptualized as an alternative to conventional banking, offering its customers return rates of up to 20% on deposits of digital assets, and providing digital...more

Cadwalader, Wickersham & Taft LLP

Senator Wyden Seeks Information from Crypto Exchanges Regarding Their Financial Stability and Customer Protections in the Event of...

On November 29, U.S. Senator Ron Wyden (D-OR), Chairman of the Senate Finance Committee, sent requests for information to the CEOs of six of the largest crypto exchanges. The requests seek information about the safeguards...more

WilmerHale

FTX Bankruptcy - What Could Be Next for the Industry?

WilmerHale on

One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more

Eversheds Sutherland (US) LLP

FTX files for Chapter 11 bankruptcy

On November 11, 2022, FTX, the world’s third-largest cryptocurrency exchange, filed for Chapter 11 bankruptcy protection in the United States. Reports suggest that the exchange might have a shortfall of as much as US$8...more

Womble Bond Dickinson

It’s A Wonderful Life’s Lessons Ring True in BlockFi Bankruptcy

Womble Bond Dickinson on

We are heading into the holiday season. It’s a Wonderful Life will be on television. And cryptocurrency bankruptcies will be in the news. Yesterday, BlockFi filed for bankruptcy. What does a seventy year old Frank Capra movie...more

Morgan Lewis

FTX Collapse Spotlights Digital Asset Risks and Compliance Challenges

Morgan Lewis on

Bahamian regulators froze accounts belonging to FTX, one of the world’s largest centralized cryptocurrency exchanges, on November 10. Shortly thereafter, and amid large-scale customer withdrawals, the founder and chief...more

BakerHostetler

Stunning Collapse of Global Cryptocurrency Exchange FTX Leads to Bankruptcy

BakerHostetler on

In a sudden and stunning collapse, FTX, the world’s second largest cryptocurrency exchange, run by 30-year-old Sam Bankman-Fried along with more than 130 entities affiliated with FTX, filed for Chapter 11 bankruptcy...more

Willcox & Savage

A Few Early Takeaways on Startup Investing in the Wake of FTX

Willcox & Savage on

The bankruptcy of FTX, the large, privately held cryptocurrency exchange that had raised hundreds of millions of dollars in venture capital funding, has been a top story in the financial press the past week. Although...more

Womble Bond Dickinson

The Spectacular Fall of FTX: Considerations about Crypto Custody and Insurance

Womble Bond Dickinson on

This morning, the FTX crypto exchange (and more than 130 affiliates) filed for bankruptcy in Delaware. FTX was recently valued at $32 billion, and now it appears to be worth $0. The bankruptcy petition listed at least $10...more

Cadwalader, Wickersham & Taft LLP

The Impact of FTX’s Collapse: Insights on What Comes Next

​​​​​​​In an unwelcome reminder of the events that unfolded in the wake of the May 2022 crypto market collapse, Bahamian-based crypto exchange FTX is reportedly on the brink of collapse following an unexpected surge in...more

Troutman Pepper

Whose Crypto Is It Anyway? Bankruptcy and Crypto - The Crypto Exchange Podcast

Troutman Pepper on

In this episode of The Crypto Exchange, Troutman Pepper Partner Keith Barnett welcomes his colleague Deborah Kovsky-Apap to discuss various bankruptcy issues facing crypto exchanges, including who exactly owns the digital...more

Nelson Mullins Riley & Scarborough LLP

Unchartered Waters: Crypto Exchange Assets in Bankruptcy

A Securities Exchange Commission disclosure filed by popular cryptocurrency exchange Coinbase has shed light on the question of what would happen if Coinbase or a similar cryptocurrency exchange ever filed for bankruptcy...more

25 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide