2022 was generally a rough year for digital asset markets. In May, the Terra stablecoin depegged, causing the Terraform Labs ecosystem to disintegrate (and Do Kwon is still on the run as of 12/28/2022). This caused a domino effect leading to the bankruptcy of some large organizations and left others scrambling for bailouts. For a … [Read more…]
The presiding judge in the FTX bankruptcy case, John Dorsey, approved FTX’s request to redact its creditors. A legal team representing FTX’s unsecured creditors supported FTX’s request, citing privacy reasons. The legal team for the unsecured creditors said that exposing their identities could discourage investors from participating in the bankruptcy process and harm their ability … [Read more…]
FTX capped a rough week for crypto by filing for Chapter 11 bankruptcy in a United States court. Sam Bankman-Fried also stepped down as FTX’s CEO. The public drama this week started when Binance CEO Changpeng Zhao announced that it was going to dump its FTT holdings. FTT is FTX’s native token and could be … [Read more…]