ChainCatcher news, according to Cointelegraph, finance professor David Krause stated that a significant drop in Bitcoin prices could severely impact MicroStrategy, jeopardizing its debt repayment ability and potentially leading to financial distress or bankruptcy, which could trigger a stock sell-off.Financial analyst Jacob King mentioned that when MicroStrategy's stock price is above its Bitcoin asset net worth, the company raises funds through debt or equity to purchase more Bitcoin. This cyclical strategy only works if BTC continues to rise; if BTC stagnates or crashes, this cycle will collapse.

ChainCatcher news, according to the official announcement, the cryptocurrency exchange WazirX, which was previously hacked for over $230 million, has announced the launch of a recovery token for the settlement of outstanding debts. This token will be airdropped to creditors proportionally based on their balances on the platform.The recovery token will provide a recovery path through the following means: future platform profits; monetization of illiquid assets held by third parties from new business initiatives; and recovery of stolen assets. The main use cases for the recovery token include: buybacks: to facilitate creditor recovery and capture market trends. Additional liquidity: depending on the sentiment of creditors, the token can be traded on the open market for early access to funds, providing flexibility and opportunities for immediate value.It is reported that on July 18, the Indian cryptocurrency exchange WazirX suffered a hacking attack, and its multi-signature wallet on the Ethereum network was compromised. A total of $234.9 million was transferred to a new address.

ChainCatcher news, according to Cointelegraph, although FTX's newly revised proposal promises "billions of dollars in compensation," creditors are dissatisfied with specific terms related to the law firm Sullivan & Cromwell (S&C). On the 7th, FTX announced a new amendment to the debt repayment plan, which includes a release clause. The release clause means that if damages occur during the execution of the bankruptcy process, some parties may be exempted from liability.FTX creditor Sunil stated that in the case of FTX, S&C may have included terms that release themselves from any potential liability. Sunil is a member of the largest creditor group of FTX—the FTX Customer Ad-Hoc Committee, which has over 1,500 FTX creditors.Earlier today, it was reported that FTX and its affiliated debtors submitted a revised reorganization plan and disclosure statement to the U.S. Bankruptcy Court in Delaware on Tuesday. The plan is expected to concentrate the distribution of nearly all of FTX's assets at the time of its bankruptcy in November 2022 to global customers and other creditors. FTX anticipates that the total value of the assets collected, converted to cash, and available for distribution will be between $14.5 billion and $16.3 billion.

ChainCatcher news, Voyager Digital has successfully raised $484.35 million through settlements with FTX, Three Arrows Capital (3AC), and Directors and Officers (D&O) insurance to compensate creditors. Among these, the settlement with FTX accounted for the majority, approximately $450 million. The company had filed for bankruptcy protection in July 2022.Additionally, Voyager obtained approximately $675 million in claims from the lawsuit against Three Arrows Capital, of which $20.43 million has already been allocated to Voyager.Aside from these settlements, Voyager is also facing some operational hurdles, including a large number of uncashed checks. The deadline is set for April 20.Voyager is still dealing with issues related to a data breach and is conducting an investigation to determine the source and impact of the leak.Finally, under a restructuring plan, Voyager customers will initially recover 35.7% of their claims, with part of it being provided in the form of cryptocurrency or cash.

ChainCatcher message, Radiant Capital initiated RFP-27 proposal, seeking consensus from Radiant DAO stakeholders on the strategy and timeline for capital restructuring of the Arbitrum lending market and repaying the excess debt in the WETH market following the vulnerability on January 2.Among them: Option one is to use liquid DAO funds and operating costs to repay bad debts. The Radiant DAO treasury currently holds approximately $5,236,996 in non-RDNT assets, excluding ARB tokens allocated through previous RFPs; Option two is the same as option 1, but includes repaying the DAO Treasury with ETH obtained from selling RDNT tokens within one year. Given that the attack value is 1,902 ETH (currently $4.3 million), this would involve the DAO selling approximately $360,000 worth of RDNT tokens each month over 12 months; Option three is to abstain and rework the plan.

ChainCatcher news, according to The Block, V Ventures now only wants to repay 10% to 20% of the debts to the creditors of the Southeast Asian cryptocurrency exchange Zipmex, having previously promised to provide 100% of the funds for user fund repayment. Zipmex lawyer Morgan Lewis Stamford stated, "The subscriber is now only prepared to consider making concessions to the planned creditors, allowing for 10% to 20% repayment of the existing debts of the creditors."ChainCatcher previously reported that V Ventures acquired 90% of Zipmex for approximately $100 million in digital assets and cash, which includes $30 million in cash, with the remainder in cryptocurrency. (The Block)

ChainCatcher news, the issuer of the algorithmic stablecoin MIM, the Abracadabra community has initiated a vote on the bad debt repayment plan triggered by the UST collapse. The voting options include using treasury funds, using protocol revenue, and a combination of treasury funds and protocol revenue. The voting deadline is November 2 at 22:00.The Abracadabra team stated that during the Terra collapse, Abracadabra's UST lending market generated approximately 12 million MIM in bad debt. As of mid-October, Abracadabra's treasury assets included 6,580,153 CRV, 996,059 USDT, 280,153 USDC, 3,300,000 yveCRV, 5,312,299 MIM tokens, and other assets worth about $300,000. (source link)