December 14, 2022
Bankrupt cryptocurrency exchange FTX Trading Ltd. told a Delaware federal judge on Wednesday that it didn't want to give the Bahamian-appointed liquidators of an affiliate access to internal data systems because of the risk of digital asset theft.
December 12, 2022
The U.S. Trustee's Office objected Monday to FTX's motion to file the identities of creditors in its Chapter 11 case under seal, saying it was unnecessary to protect the creditors and would set a bad precedent for the cryptocurrency exchange's case and other bankruptcies.
December 12, 2022
The new CEO of fallen cryptocurrency exchange FTX said in written testimony to the House Committee on Financial Services that FTX's prior leadership lacked the experience and sophistication necessary to run a company of its size, and that there is a "painstaking" effort underway to account for all the exchange's digital assets.
December 02, 2022
Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.
December 01, 2022
A bankruptcy watchdog for the U.S. Department of Justice on Thursday urged a Delaware bankruptcy judge to appoint a special examiner to sift through the wreckage of FTX Trading Ltd., saying an independent investigation is needed to determine what led to the cryptocurrency exchange's "free fall" into bankruptcy.
November 23, 2022
Miami-Dade County, Florida, has asked a Delaware bankruptcy court for permission to end its naming rights deal with beleaguered cryptocurrency exchange FTX and remove the name from the downtown arena where the Miami Heat play.
November 22, 2022
Appearing for the first time in Delaware bankruptcy court 11 days after commencing Chapter 11 cases, cryptocurrency exchange FTX Trading Ltd. said it is aiming to implement robust internal controls and to straighten out the mess of its financial records.
November 21, 2022
As bankrupt cryptocurrency exchange FTX Trading Ltd. prepares to make its first appearance in a Delaware bankruptcy court Tuesday, the company filed a consolidated list of creditors that shows its 10 largest claimants are customers owed a combined $1.4 billion.
November 18, 2022
The "internal controls wasteland" that was FTX may prove to be the biggest corporate governance failure of all time, legal experts told Law360, but they pondered the role regulation could have played in containing the collapse.
November 17, 2022
FTX's new CEO John R. Ray III, who shepherded Enron after its spectacular collapse, said in a court filing Thursday that the crypto exchange's downfall stemmed from an unprecedented "failure of corporate controls," the likes of which he had never seen before in his career.