Tag Archives: bankruptcy

2022 was a year wrought with bankruptcy and the exiting of several crypto companies, but many analysts do not feel this was necessarily a bad thing. Bankruptcy was Big in 2022, but Things Might’ve Been Better Than We Thought On the surface, one could argue that 2022 was the worst year for crypto since 2018. The price of bitcoin, for example, fell by more than 70 percent after the world’s number one digital currency by market cap hit a new all-time high in the final...

Another crypto mining firm is in trouble. This time, the alleged victim is Greenidge Generation (GREE), which has hinted that it could file bankruptcy in the coming weeks if its present deal with NYDIG doesn’t work out. Greenidge Generation Could Be the Next to Go The company is struggling to restructure its nearly $75 million debt. By doing this, the company could avoid a long bankruptcy line that initially began last summer with firms like Celsius, though Greenidge is...

It’s happened again, folks. Another digital currency company has filed for bankruptcy protection. This time, it’s Block Fi, a crypto lending platform, which was reported to be heading in this direction back in late December. Block Fi Is the Latest Crypto Firm to Crash Ironically, the company was one of the few to be “saved” by FTX earlier in the year, though now that its savior is crashing and burning before the eyes of the public, Block Fi no longer has what it takes to...

FTX caused a lot of nasty spillage and other problems in late 2022. Here we are in 2023, and unfortunately, the final remnants of what will likely be labeled a huge bad actor and very poor player in the crypto economy continues to wreak havoc on the space and on customers. FTX Customers May Not Get Their Funds Back It has been suggested by many analysts and traders that the company’s users will not get their money back. That’s right… Whatever funds they lost due to the...

2022 has been an atrocious year for cryptocurrency. Many digital asset companies have been forced into dark places and filed for bankruptcy, and it looks like leading blockchain firm Block Fi might be next. Things Aren’t Looking Good for Block Fi Throughout 2022, the crypto space has been hit harder than it ever has in its short, 14-year history. Bitcoin, for example, has dropped from its all-time high of about $68,000 per unit – which it achieved in November of last...

FTX, one of the world’s biggest and most popular digital currency exchanges, has filed for bankruptcy. This was abruptly followed by the formal resignation of the company’s founder and head executive Sam Bankman-Fried. FTX Has Fully Gone Under The company has been in hot water for the past several weeks. FTX experienced what’s been referred to as a “liquidity crunch” and initially sought the aid of its main rival Binance to bail it out of the dark hole that had been created for it. It...

Core Scientific – one of world’s biggest publicly traded crypto mining firms – has announced it is considering bankruptcy protection as its stock has fallen by over 90 percent since the beginning of the year. The company has also stated it’s not likely to make any upcoming debt payments. Core Scientific Says It’s Thinking About Bankruptcy Core Scientific has been in trouble for some time. Not long ago, the firm mentioned it was going to release more than ten percent of its staff as a means...

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New information has come about regarding the dips incurred by the Celsius Network that have traders and analysts raising a few eyebrows. What’s Happening at Celsius? Not long ago, it was announced that Celsius was going to give traders their money back and that it was going to allegedly try and make things right with its customers. This made it appear as though Celsius was something of a victim company. A firm that fell to the ongoing volatility and speculation of the...

It’s happened again, folks. In the age of crypto bankruptcy and companies falling apart amidst the growing bear market, another digital currency firm has entered legal bankruptcy protections as a means of getting creditors and angry customers off its back. This time, the enterprise in question is Compute North, a digital currency mining firm. Compute North Is Having a Hard Time This is the first time that a crypto mining company has entered bankruptcy proceedings, which...