ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that the probability of MicroStrategy going bankrupt is extremely low. For 15 years, Bitcoin has never fallen below the cost basis of long-term holders, which is currently around $30,000. MicroStrategy's debt is $7 billion, while the value of its Bitcoin holdings is $46 billion. Based solely on its Bitcoin holdings, its liquidation price is $16,500.

ChainCatcher news, the virtual asset custody platform Haru Invest was officially declared bankrupt by the Seoul restructuring court in South Korea on November 20.The operating company of Haru Invest, Haru Management Limited, was previously filed for bankruptcy due to its inability to pay debts. The court stated that although the company is registered in the British Virgin Islands, it has an office and operates in South Korea, giving the Korean court jurisdiction over the case.The court plans to hold the first creditors' meeting on February 11, 2025, to liquidate and distribute the company's assets through the bankruptcy administrator. It is reported that Haru Invest attracted investors by making false promises to guarantee principal and high returns since 2020, and suddenly stopped withdrawals in June last year, causing over 16,000 investors to suffer losses.It is reported that from March 2020 to June last year, Haru Invest deceived investors by falsely promising to guarantee principal and pay high returns, suddenly stopping withdrawals and absconding with approximately 14 trillion won worth of cryptocurrency.

ChainCatcher news, according to Cointelegraph, the FTX bankruptcy group is seeking to recover over $100 million from SkyBridge Capital and founder Anthony Scaramucci to reclaim funds spent by former FTX CEO Sam Bankman-Fried (SBF) on sponsorship and investment agreements made with Scaramucci and SkyBridge since 2022.According to legal documents dated November 8, before FTX's collapse, Bankman-Fried engaged in a series of investments and partnerships with SkyBridge Capital and Scaramucci—first providing a $12 million sponsorship for Scaramucci's SALT conference in January 2022.Shortly thereafter, in March 2022, SBF directed Alameda Research to invest $10 million in the SkyBridge Coin Fund. Later, in September 2022, FTX acquired a 30% stake in the operating company managing SkyBridge investment vehicles for $45 million. FTX's lawyers argue that this investment lacked financial prudence—believing that "the FTX group could have easily purchased a basket of cryptocurrencies for a significantly lower cost than the majority of the $45 million investment."

ChainCatcher news, according to Cointelegraph, the California Department of Financial Protection and Innovation (DFPI) has announced the permanent revocation of the lending license of the bankrupt cryptocurrency lending platform BlockFi. This decision was made two years after BlockFi filed for bankruptcy. The DFPI suspended BlockFi's license in November 2022 and subsequently conducted a comprehensive review of the company.BlockFi has agreed to accept the license revocation and has committed to ceasing any illegal and unsafe business practices. The DFPI initially imposed a fine of $175,000 on BlockFi, but considering the company is bankrupt and no longer operating, it decided to waive the fine in order to prioritize consumer protection.

ChainCatcher news, according to Cointelegraph, the California Department of Financial Protection and Innovation (DFPI) has announced the permanent revocation of the lending license for the bankrupt cryptocurrency lending platform BlockFi. This decision was made two years after BlockFi filed for bankruptcy. The DFPI suspended BlockFi's license in November 2022 and subsequently conducted a comprehensive review of the company.BlockFi has agreed to accept the license revocation and has committed to ceasing any illegal and unsafe business practices. The DFPI originally imposed a $175,000 fine on BlockFi, but considering the company is bankrupt and no longer operating, it decided to waive the fine to prioritize consumer protection.

ChainCatcher message, according to The Block, Web3 infrastructure provider Ankr has integrated with the TON blockchain. Ankr stated that through this integration, it will provide developers with a "portal to build on the TON blockchain, allowing them to build dApps and unlock access to the Telegram community of 950 million users."The statement claims that by using Ankr's AP services, developers will no longer need to "deploy or maintain their own nodes to access on-chain data," and will be able to leverage "instant connectivity with the TON blockchain."

ChainCatcher news, the crypto bank Banq previously filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for Nevada, but its application has been dismissed.The judge presiding over the case, Natalie M. Cox, stated that the bank's bankruptcy filing was a "malicious" strategy aimed at "gaining an advantage in pending litigation" rather than restructuring.Judge Cox wrote in her ruling that the bankruptcy proceedings were a tactic to protect Banq and its founder Jon Jiles from an investor lawsuit initiated by N9 (the company's primary creditor holding a $3 million stake). N9 accused Jiles of failing to fulfill his fiduciary duties by prioritizing the interests of Prime Trust (of which he is a founder and managing member) over those of Banq.Previous news, the crypto custody company Prime Trust's subsidiary Banq has filed for bankruptcy protection in the U.S. Bankruptcy Court for the District of Nevada.

ChainCatcher news, according to The Block, former FTX user Alexander Nikolas Gierczyk has filed a lawsuit in the U.S. District Court for the Southern District of New York, accusing the hedge fund Olympus Peak of violating an agreement regarding additional bankruptcy claim proceeds. It is reported that Gierczyk transferred his bankruptcy claim worth $1.59 million to Olympus Peak at a 58% discount in November 2023.Recently, U.S. Bankruptcy Court Judge John Dorsey in Delaware approved the FTX asset restructuring plan. The plan is expected to repay FTX creditors between 129% and 146% of the claim value at the time of the bankruptcy filing in fiat currency. According to the lawsuit documents, based on this repayment ratio, Olympus Peak is expected to profit between $1.1 million and $1.4 million from Gierczyk's claim.The lawsuit documents indicate that although Gierczyk transferred the claim at a discount, the agreement with Olympus Peak included an "excess claim clause." This clause was originally intended to allow Gierczyk to receive additional compensation in the same proportion if the bankruptcy distribution exceeded expectations. However, the plaintiff's attorney stated that Olympus Peak has explicitly indicated it will not fulfill its obligations under this clause.

ChainCatcher news, according to Coindesk, U.S. Delaware bankruptcy court judge John Dorsey decided on Monday during a hearing to approve the FTX bankruptcy plan, which will fully repay cryptocurrency customers in cash plus interest. Under the plan, 98% of creditors will receive at least 118% of the value of their claims in cash.FTX lawyers stated that they are still considering distributing stablecoins to creditors as an option and confirmed that they are in discussions with at least four companies that could handle such distribution if necessary.

ChainCatcher news, according to The Block, the discounted token sales from FTX's bankrupt assets continue to attract investor attention. Investors have snapped up millions of tokens from several projects, betting that these assets are undervalued and may have long-term upside potential.The largest holding of FTX's assets is 41 million locked Solana (SOL), currently valued at approximately $6 billion. The asset management team sold these tokens in batches at a discounted price ranging from $64 to $110 in April and May. The current trading price of SOL is about $142, and investors who bought in, such as Pantera Capital, Galaxy Trading, and Figure Markets, have already realized paper profits.The FTX asset management team plans to auction 22.3 million locked Worldcoin (WLD) tokens, valued at approximately $38 million. Despite concerns from investors about the length of the lock-up period, the auction remains competitive, with WLD trading at "slightly above $1." The current trading price of WLD is about $1.78.The FTX asset management team has also sold Metaplex (MPLX) tokens, which several crypto funds subsequently purchased at a discount from Wave Digital Assets.Investors indicate that they are focused on high-quality assets and projects led by visionary founders. Despite the risks, the appeal of discounted tokens and potential returns make many investors consider these investment opportunities worthwhile.

ChainCatcher news, according to The Block, the FTX bankruptcy management team is auctioning 22.3 million locked Worldcoin (WLD) tokens at a significant discount, currently valued at approximately $37.7 million. This auction is part of FTX's ongoing efforts to recover funds for creditors. Interested buyers must submit bids by 8 PM Eastern Time on Wednesday, with discounts potentially ranging from 40% to 75%.These WLD tokens will be unlocked daily until 2028, and the auction marks FTX's continued efforts to manage its assets following the sale of Solana and Metaplex tokens. The FTX estate currently holds approximately $594 million in assets, most of which are illiquid FTT tokens.

ChainCatcher news, according to RootData market data, the "bankruptcy" concept tokens are leading the rise, among which:FTT briefly touched $2.99, currently quoted at $2.5, with a 24-hour increase of 80.58%;USTC (TerraClassicUSD) currently quoted at $0.0274, with a 24-hour increase of 47.47%;LUNA currently quoted at $0.48, with a 24-hour increase of 18.56%;LUNC currently quoted at $0.0001, with a 24-hour increase of 17.11%.

ChainCatcher news, according to HODL15Capital monitoring, at the time of the Chapter 11 bankruptcy filing, FTX was severely lacking in spot Bitcoin, holding only 0.1% of the Bitcoin that customers believed the exchange held. At the time of the bankruptcy filing, FTX had only 1 million dollars in Bitcoin, while customer balances amounted to 1.6 billion dollars.

ChainCatcher news, according to Spot On Chain monitoring, in the past 9 hours, the wallet "0x999" (possibly the bankruptcy distribution address of Genesis) transferred 5000 ETH (12.9 million USD) to FalconX, and currently still holds 162,000 ETH (423 million USD).

ChainCatcher news, Musk replied to a post from a user on a social media platform, stating: "Federal government spending will bankrupt the nation unless action is taken to reduce government waste. This is the reason for inflation." Previously, it was reported that U.S. Republican presidential candidate Trump said that if he is elected, he will appoint Musk to lead a government efficiency committee responsible for reviewing government spending.

ChainCatcher news, according to Reuters, Terraform Labs received approval from a U.S. bankruptcy court on Thursday to begin liquidation. U.S. Bankruptcy Judge Brendan Shannon approved Terraform's bankruptcy plan during a hearing in Wilmington, Delaware, stating it was a "popular alternative" to continue litigation for investor losses. Terraform estimates that as part of the bankruptcy liquidation, it will be able to pay between $184.5 million and $442.2 million to cryptocurrency investors and other stakeholders.Previous news, according to the official announcement from Terra, the confirmation hearing for the Chapter 11 bankruptcy reorganization plan of Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is scheduled for September 19, 2024, at 10 AM Eastern Time (10 PM Beijing Time).

ChainCatcher news, according to Financefeeds, the parent company of crypto-friendly bank Silvergate, Silvergate Capital, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for Delaware. The bankruptcy filing shows that the company's assets are between $100 million and $500 million, with liabilities between $10 million and $50 million. In March 2023, Silvergate Capital announced it would voluntarily liquidate its subsidiary Silvergate Bank, citing challenges in the banking industry due to rising interest rates and regulatory scrutiny following the bankruptcy of crypto exchange FTX in November 2022. Silvergate Bank was known for its close ties to the crypto industry, and its reputation and confidence among clients plummeted after the FTX collapse. In July of this year, Silvergate Capital reached a settlement with the U.S. SEC, the Federal Reserve, and the California Department of Financial Protection and Innovation (DFPI), agreeing to pay $63 million. The Federal Reserve stated that it has ended its enforcement action against Silvergate Capital after Silvergate Bank completed its liquidation plan, repaid deposits, and ceased banking operations.Previous news, the U.S. SEC has sued Silvergate Capital in a federal court, accusing it of securities fraud. The SEC stated that Silvergate misled investors about its banking secrecy policies, anti-money laundering compliance program, and poor financial condition following the collapse of FTX in 2022.