Bankruptcy

The bankrupt cryptocurrency lender BlockFi will try to collect about $680 million it is owed by a part of Sam Bankman-Fried's failed crypto empire, a lawyer told the federal judge overseeing BlockFi's insolvency case.

BlockFi filed for bankruptcy, the latest crypto firm to collapse in the wake of the crypto exchange FTX's rapid downfall. 

The digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it's warning potential investors that it may need to file for bankruptcy if its efforts fail, according to people with knowledge of the matter.

From a German bank seeking a more than $2 million payment to a Chinese investor requesting $21,000 of lost savings. Claimants around the world who were caught up in the epic collapse of FTX Group are beginning to appear in court filings.

Long before Sam Bankman-Fried's FTX cryptocurrency empire collapsed this month, it already was on the radar of federal prosecutors in Manhattan.

Moves by cryptocurrency exchanges to reassure markets about their stability are having little effect on jittery users, who keep pulling funds from the venues.

A new report by the examiner of the bankrupt crypto lender Celsius Network details shortfalls in controls and operations at two of the company's product offerings related to digital assets it held in custody for customers, raising issues of whether and how these users can get reimbursed.

FTX co-founder Samuel Bankman-Fried, one of his related companies and two other top executives at the collapsed cryptocurrency exchange received massive loans from an affiliated trading arm, Alameda Research, according to a bankruptcy court filing Thursday.

The embattled cryptocurrency mogul Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with "incessant and disruptive tweeting" that appears aimed at moving assets away from the control of a U.S. court in favor of one in the Bahamas, U.S. lawyers for the bankrupt crypto platform FTX said in a court filing.

The cryptocurrency lender BlockFi is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private.