Notices tagged with bankruptcy
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LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Thursday, 05-Jan-2023 04:30:46 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} https://www.axios.com/2023/01/04/celsius-bankruptcy-earn-accounts | https://nu.federati.net/url/289204 [www axios com & web archive org]
#Bankruptcy judge in Celsius case rules that #cryptocurrency deposits belong to the company, not the depositors (who are now unsecured creditors). This appears to be based on contract language, but I wonder how this would go with a "M of N" type arrangement, where the company is unable (not just by internal policy, but enforced by smart contract) to touch depositors funds without those depositors' allowance.
(Also, I wonder what the legal gobbledegook that cryptocurrency exchanges make people sign has similar clauses.) -
LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} (lnxw48a1)'s status on Friday, 25-Nov-2022 15:20:48 UTC LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864} https://www.youtube.com/watch?v=QxCRRcWSt4I
Elon bought himself a bunch of lawsuits.
/via @geniusmusing
#Twitter #Musk #lawsuit #bankruptcy #sec #ftc