Bitcoin News Thebittimes.Com

On December 22, the crypto community of the /mtgoxsolvency subreddit revealed that the fallen Tokyo-based Bitcoin (BTC) exchange, Mt. Gox, has been sending emails to its creditors confirming that the repayment details they provided have been verified with relevant cryptocurrency exchanges. Judging by the comments, Mt. Gox has been sending emails in a staggered fashion, based on the platforms the creditors have their accounts with. For example, multiple Bitstamp users reported they had received the email, and many Kraken customers stated they were still waiting. For its part, the fallen Bitcoin exchange warned that users whose accounts have been disabled or frozen will not be able to receive re payments using said addresses and specified that the emails concern payments in Bitcoin and Bitcoin Cash (BCH). Mt. Gox promised it would start repaying ‘shortly’ last November The January 22 emails are likely a continuation of a Mt. Gox drive started in November 2023 that aims to return...

BlockFi argues its creditors, not FTX’s, are the “ultimate victims” of FTX’s alleged fraud. Bankrupt cryptocurrency lender BlockFi is trying to block attempts by the similarly bankrupt FTX and Three Arrows Capital (3AC) that aim to retrieve hundreds of millions of dollars to pay back their creditors. BlockFi claimed in an Aug. 21 filing to a New Jersey bankruptcy court that its own creditors shouldn’t be pushed to the back of the line because FTX’s creditors were harmed by the exchange allegedly misappropriating $5 billion BlockFi lent it. “FTX seeks to recover on over $5 billion of claims filed against the BlockFi estates at the direct expense of the ultimate victims of FTX’s fraud: BlockFi’s clients and other legitimate creditors.” “To prevent further injustice to the creditors of BlockFi’s estates, the Court should disallow the FTX Claims under the doctrine of unclean hands,” BlockFi added. FTX also provided $400 million to BlockFi in June 2022 in addition to buying BlockFi equity ...