Bitcoin Miner Core Scientific to Emerge From Bankruptcy, Re-List Shares This Month
The bankrupt miner received court approval for its Chapter 11 reorganization plan and plans to re-list shares on Nasdaq end of January.
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The bankrupt miner received court approval for its Chapter 11 reorganization plan and plans to re-list shares on Nasdaq end of January.
The defunct crypto lender sent over 30,000 ETH to custodian Fireblocks in the past week, some of which was deposited at crypto exchange Coinbase, data shows.
Payments through bank accounts are still awaited.
The worldwide order by a British Virgin Islands court applies to founders Su Zhu, Kyle Davies and Davies’ wife, Kelly Chen.
Genesis requested a New York bankruptcy court to bar ownership changes to secure tax benefits on around $700 million worth of operating losses.
Mike Novogratz’s firm is also interested in companies FTX invested in as a venture capital provider.
Asset values for creditor claims will be calculated at prices on the day FTX filed for bankruptcy in November 2022, the plan says.
FTX’s SOL holdings are worth over $4.2 billion in today’s money, up from $1.16 billion from earlier this year.
The firm’s executives were arrested last month on multiple charges.
A federal judge took steps to end a protracted dispute between FTX and its largest creditor at a bankruptcy hearing, signaling the court could try to speed up efforts to recover FTX customer’s funds from the failed crypto firm’s estate.