Goldman Sachs buys crypto companies, FTX news, 3AC and Celsius updates: Hodler's Digest December 4-10
Top stories this week So far, 7 class action lawsuits have been filed against SBF, records show
has been named in seven class action lawsuits since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and inquiries examining the crypto exchange and its founder, including a market manipulation investigation reported by federal prosecutors. Another headline shows the US House of Representatives called SBF to. Amid investigations by lawmakers and a flurry of civil litigation, SBF Mark Cohen will act as his defense attorney. A financial forensics team to track down billions of dollars in missing customer encryption.
3AC subpoenas issued as dispute grows over Terraform dump claimssupervising Three Arrows Capital's bankruptcy proceedings has authorized subpoenas for the company's former executives, including co-founders Su Zhu and Kyle Davies. Under the authorized subpoenas, Zhu and Davies are required to turn over any "recorded information, including books, documents, records and papers" relating to the financial affairs or property of the company. The founders will not be served on Twitter, as by the consulting firm and liquidator in this case, Teneo.
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USDC issuer Circle terminates SPAC merger with Concordwill not merge with Special Purpose Acquisition Company (SPAC) Concord Acquisition due to a mutual decision of the two entities. Circle's original plans, unveiled in July 2021, called for an IPO through a merger with Concord. Between then and February 2022, Circle's valuation fell from $4.5 billion to $9 billion. However, Circle still plans to go public at some point, per comments from CEO Jeremy Allaire. The company had a profitable third quarter for 2022 amid the crypto bear market.
Bankruptcy judge orders $44 million worth of crypto returned to Celsius customersto give back approximately $44 million to customers who kept their digital assets in the platform's deposit accounts. US Bankruptcy Judge Martin Glenn issued the decision, expressing his wishes for a speedy resolution for creditors. Crypto yield falls under certain specifications, only applying to assets that have never interacted with Celsius' Earn product and have remained in deposit accounts.
Goldman Sachs Reportedly Looking To Buy Crypto Companies After FTX CollapseMillions in Crypto Firms as FTX Collapse Affected Crypto Market Prices. Mathew McDermott, an executive at Goldman Sachs, said in a recent interview that big banks are seeing “more reasonably priced” opportunities and are already doing due diligence on some crypto companies. The collapse of FTX also highlighted the need for increased regulation within the industry, according to the executive.
has been named in seven class action lawsuits since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and inquiries examining the crypto exchange and its founder, including a market manipulation investigation reported by federal prosecutors. Another headline shows the US House of Representatives called SBF to. Amid investigations by lawmakers and a flurry of civil litigation, SBF Mark Cohen will act as his defense attorney. A financial forensics team to track down billions of dollars in missing customer encryption.
3AC subpoenas issued as dispute grows over Terraform dump claimssupervising Three Arrows Capital's bankruptcy proceedings has authorized subpoenas for the company's former executives, including co-founders Su Zhu and Kyle Davies. Under the authorized subpoenas, Zhu and Davies are required to turn over any "recorded information, including books, documents, records and papers" relating to the financial affairs or property of the company. The founders will not be served on Twitter, as by the consulting firm and liquidator in this case, Teneo.
Read also
FeaturesIs China Softening Bitcoin? A turn of phrase stirs the crypto world
FeaturesStrengthening the resilience of communities in the face of crises through mutual aid and Web3
USDC issuer Circle terminates SPAC merger with Concordwill not merge with Special Purpose Acquisition Company (SPAC) Concord Acquisition due to a mutual decision of the two entities. Circle's original plans, unveiled in July 2021, called for an IPO through a merger with Concord. Between then and February 2022, Circle's valuation fell from $4.5 billion to $9 billion. However, Circle still plans to go public at some point, per comments from CEO Jeremy Allaire. The company had a profitable third quarter for 2022 amid the crypto bear market.
Bankruptcy judge orders $44 million worth of crypto returned to Celsius customersto give back approximately $44 million to customers who kept their digital assets in the platform's deposit accounts. US Bankruptcy Judge Martin Glenn issued the decision, expressing his wishes for a speedy resolution for creditors. Crypto yield falls under certain specifications, only applying to assets that have never interacted with Celsius' Earn product and have remained in deposit accounts.
Goldman Sachs Reportedly Looking To Buy Crypto Companies After FTX CollapseMillions in Crypto Firms as FTX Collapse Affected Crypto Market Prices. Mathew McDermott, an executive at Goldman Sachs, said in a recent interview that big banks are seeing “more reasonably priced” opportunities and are already doing due diligence on some crypto companies. The collapse of FTX also highlighted the need for increased regulation within the industry, according to the executive.
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