Bankruptcy

FTX bankruptcy plan approved for $12.7 billion distribution to creditors in October 2024.

FTX estate liquidated approximately $1 billion in Solana tokens at $64 per token via over-the-counter sales, offering buyers a 60 percent discount to prevailing market prices.

Celsius Network bankruptcy plan confirmed by court, enabling partial recovery for creditors

Genesis Global Capital filed for Chapter 11 bankruptcy on January 19, 2023, owing $3.4 billion to creditors after the FTX collapse froze its lending operations.

Core Scientific, one of the largest bitcoin mining companies, filed for Chapter 11 bankruptcy on December 21, 2022, citing liquidity crisis and debt pressures amid depressed bitcoin prices and unfavorable mining economics.

Swedish bitcoin mining company KnCMiner filed for bankruptcy after raising $32 million, citing high energy taxes, rising competition from Chinese miners, and the impending July 2016 bitcoin halving.