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Report: Investigation Finds No Fault With Sullivan & Cromwell in FTX Bankruptcy

Report: Investigation Finds No Fault With Sullivan & Cromwell in FTX Bankruptcy

An investigation into the law firm Sullivan & Cromwell LLP, which worked with the now-defunct crypto exchange FTX, revealed that the firm was neith...
May, 26, 2024
by Bitcoin News
FTX Estate Sues Layerzero Labs for $85M Over Alleged Fraudulent Deals and Asset Withdrawals Amidst Collapse

FTX Estate Sues Layerzero Labs for $85M Over Alleged Fraudulent Deals and Asset Withdrawals Amidst Collapse

The bankrupt estate of cryptocurrency exchange FTX is suing blockchain company Layerzero Labs in an attempt to claw back a $45 million deal and ove...
Sep, 11, 2023
2 min read
by Bitcoin News
Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevad...
Jun, 29, 2023
3 min read
by Bitcoin News
Silvergate Bank Faces Regulatory Deadline for Self-Liquidation Plan

Silvergate Bank Faces Regulatory Deadline for Self-Liquidation Plan

In a recent press release from the U.S. Federal Reserve Board of Governors, it was disclosed that Silvergate Bank has been given a ten-day deadline...
Jun, 02, 2023
2 min read
by Bitcoin News
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit...
May, 01, 2023
2 min read
by Bitcoin News
White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week

White House Says Biden Has ‘Confidence’ in Fed Chair Powell While Fedwatch Tool Predicts a 25bps Hike This Week

With the Federal Open Market Committee convening on Wednesday and the recent financial troubles facing the U.S. banking system, White House press s...
Mar, 21, 2023
3 min read
by Bitcoin News
Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist

Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist

At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the...
Mar, 08, 2023
2 min read
by Bitcoin News

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