bankruptcy

Unlike the recent crypto firms declaring bankruptcy, Bittrex was different in two ways one being it voluntarily chose to shut down its U.S. operations and the other being it never restricted customer access to accounts and neither faced funding shortfall. Industry titans BlackRock, DTCC,...

While major beer brands like Bud Light are currently facing challenges, smaller brewers aren't necessarily reaping the benefits either. Many craft breweries are grappling with financial difficulties, leading some to shut their doors for good. What Happened: Following the fallout...

Biocept Inc (NASDAQ: BIOC) filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. In a document filed with the U.S. Securities and Exchange Commission, the company said it is filing its petition after considering strategic alternatives. ...

Minerals Technologies Inc (NYSE: MTX) said its subsidiaries, Barretts Minerals Inc (BMI) and Barretts Ventures Texas LLC (together, the Debtors), filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the...

SmileDirectClub Inc. (NASDAQ: SDC), a dental aligner manufacturer, has filed for bankruptcy just a few years after its remarkable $1.35 billion IPO. What Happened: The Nashville-based company made its Chapter 11 declaration in Texas this past week. The move will allow it to sustain...

Distressed trucking firm Yellow Corp. (NASDAQ:YELL) is reportedly contemplating an asset and real estate sale via a bankruptcy filing, potentially happening as soon as this weekend, sources close to the matter reveal. A potential financial bidder has already shown interest in the assets of the...

Crypto exchange Kraken's co-founder Jesse Powell on Wednesday voiced his skepticism about the proposed restructuring plan for beleaguered FTX (CRYPTO: FTT). Kraken Co-Founder On FTX: Powell's remarks come in the wake of FTX's announcement detailing its proposed...

The sudden cessation of operations by the trucking titan, Yellow Corp. (NASDAQ:YELL), may lead to financial losses for American taxpayers, highlighting the inherent risks of government aid to corporations. Government’s Lifeline To Yellow And Its Implications In 2020, during the peak of the...

Bankrupt crypto firm Voyager Digital Holdings Inc. has reportedly been targeted by hackers during its reopening phase. The platform was reopened for a 30-day period to allow customers to withdraw their remaining assets as part of a court-supervised liquidation process. During this period,...

FTX recently detailed its proposed restructuring plan, which aims to facilitate the exchange's revival as an offshore entity. Documents submitted on July 31 include a draft plan that describes the disgraced company's planned approach to resolving an "exceptionally large and complicated...

In a major development, Alexander Mashinsky, the founder and former CEO of Celsius Network (CRYPTO: CEL), has been arrested on charges of securities fraud, commodities fraud and wire fraud. What Happened: The charges, brought forth by the United States Attorney for the Southern District...

The Commodity Futures Trading Commission (CFTC) has found that the now-defunct crypto lender Celsius Network (CRYPTO: CEL) and its previous CEO, Alex Mashinsky, violated U.S. regulations prior to the company's collapse. If the CFTC's commissioners concur with these findings, a lawsuit could...

Beleaguered crypto lending platform Celsius, which filed for bankruptcy in July 2022, received the green light to begin liquidating its cryptocurrency holdings in preparation for distribution to its creditors. The authorization was granted by Bankruptcy Judge Martin Glenn of the Southern...

Crypto exchange FTX (CRYPTO: FTT) is actively seeking to reestablish its principal international exchange platform. This initiative comes in the wake of the company's turmoil due to allegations regarding the loss of nearly $9 billion of client funds before it crumbled last year. John J. Ray III...

EV maker Lordstown Motors Corp (NASDAQ:RIDE) filed for bankruptcy protection on Tuesday, following a drawn-out dispute with Foxconn over a $170 million investment. What Happened: The company said that it started the sale process for its Endurance all-electric pickup truck and...