0xScope reports that the Teneo: 3AC liquidator address (0xC7…3741) holds a substantial amount of 75 million WLD tokens, valued at around US$550 million, making it the asset with the highest net worth. These tokens, akin to those received by the bankrupt Alameda, were obtained from Worldcoin in August 2023, and there has been no activity on them since.
Bankrupt crypto exchange FTX seeks court approval to offload its $1.4 billion stake in AI firm Anthropic, raising funds for creditors while navigating the complexities of its financial restructuring.
Bankrupt crypto lender Genesis Global Capital seeks court approval to sell $1.6 billion in trust assets, primarily comprising GBTC and ETHE shares, raising concerns about potential market impact and further fueling uncertainty within the crypto industry.
Launched by founders of defunct Three Arrows Capital, centralized exchange OPNX announces closure this month. Users advised to close positions and withdraw funds by February 14th. Founders reportedly shifting focus to new on-chain derivatives platform OXFUN.
In a bid to rebuild trust and repay creditors, Celsius, the embattled crypto lender, is making waves with a two-pronged approach: distributing over $3 billion and forging a novel Bitcoin mining venture, Ionic Digital, co-owned by creditors and miners. While these moves offer hope, questions linger about long-term strategy, asset sales, and potential tax implications for creditors.
Core Scientific, a Bitcoin mining and hosting solutions provider, is set to resume trading on Nasdaq after completing its Chapter 11 bankruptcy process. The company plans to relist its shares and has implemented a restructuring plan to cut $400 million in debt.
Tensions flared in the FTX bankruptcy saga as creditors vehemently challenged the exchange’s proposed method for valuing customers’ digital assets. A December 27 court filing revealed FTX seeking approval to base claims on frozen prices from November 11, 2022, the day of its collapse. This translates to estimates of $16,871 for Bitcoin, just half its current value, and similarly underwhelming figures for Ethereum, Solana, and Avalanche.
Mt. Gox creditors report that they have started receiving payments from the trustee of the failed Bitcoin exchange.