Bankruptcy proceedings: FTX tries to sell LedgerX and other companies

0
19

The bankrupt crypto exchange will also have an official creditors’ committee. Also: Elon Musk has sold Tesla shares again and the USA has blacklisted the leading Chinese manufacturer of memory chips.

The FTX collapse has sent a shock through the crypto world – investors are unsettled.
Rafael Henrique/SOPA Images/LightRocket via Getty Images

Good morning! While you slept, work continued elsewhere in the digital scene.

The top topics:

The bankrupt crypto exchange FTX tried the trading platform LedgerX and to sell three other companies as part of the bankruptcy proceedings. The company applied Thursday to the bankruptcy court for approval of the bidding process to sell the companies. Alongside LedgerX, FTX aims to sell Embed Technologies, FTX Japan and FTX Europe on. In addition, the US Department of Justice Bankruptcy Watch has appointed a committee to represent FTX account holders and other subordinated creditors in bankruptcy proceedings. The committee consists of individual account holders, mutual funds and a subsidiary of the US crypto firm Genesis.

Furthermore, it was announced that Paxos, a company that issues and redeems stablecoins, processed $3 billion worth of customer redemptions over a seven-hour period on Tuesday. The redemptions are another sign of the current nervousness of customers. [Mehr bei The Information, Reuters, The Information und CNBC]

On the founding scene: Carina Windau, Oliver Rath, Nicolai Lange, Christian Kötter and Jathavan Sivakumaran want to find happiness in the niche. More precisely: with dirty, hairy horse blankets. your startup ceiling post from Rheine collects blankets directly from riding stables and cleans them in industrial washing machines. But it’s only superficially about horse blankets. Their strategy is to get direct access to the riding stables – and thus to a market worth billions. They revealed exactly what they plan to do to editor Katharina Kotrba. [Mehr bei Gründerszene]

And here are the other headlines of the night:

Elon Musk hat Tesla-More than $3.5 billion worth of shares sold. According to official documents, the Tesla CEO sold around 22 million shares in the electric car manufacturer within three days in December. It’s the second time Musk has sold his stake since buying Twitter reduced at the end of October. Tesla shares, meanwhile, have fallen to their lowest level in two years. [Mehr bei CNBC und The Information]

The US has the leading Chinese maker of memory chips, Yangtze Memory Technologies, blacklisted for export. The USA is trying to slow down the expansion of the Chinese semiconductor industry. Yangtze’s inclusion on the Commerce Department’s so-called company list could further affect the company’s business after an earlier round of restrictions in October. [Mehr bei Wall Street Journal]

Adobe sticks to its forecast for the new financial year. The company said it expects to purchase the design tool Figma worth $20 billion to close next year despite regulatory reviews in the US, UK and Europe. The software maker posted adjusted earnings of $3.60 per share in the fourth quarter, up from $3.50 per share analysts had expected. Revenue was $4.53 billion, as expected. The stock gained around 6 percent in extended trading. [Mehr bei Bloomberg und CNBC]

that to Alphabet belonging companies Intrinsic has several departments of Open Robotics acquired, the company behind the popular robotics software packages Gazebo and Robotic Operating System. Open Robotics funds its operations through projects with public and private entities, including NASA, Amazon, Bosch and Nvidia. [Mehr bei Techcrunch]

Investments: Das New Yorker Health-Startup Juno recently raised $12 million in a Series A for its family-focused healthcare. The round was co-led by Serena Ventures and Next Ventures. Sun King, a provider of off-grid solar energy products in Africa and Asia, has secured a $70 million equity investment led by Leapfrog Investments. This is an expansion of the $260 million Series D round. Eon, a startup that removes atmospheric CO2, has announced a $12 million Series A round. The round was led by Agfunder and Ridgeline. [Mehr bei Techcrunch, Techcrunch und Techcrunch]

Our reading tip on Gründerszene: Enpal receives EUR 855 million to boost solar systems business. Meanwhile, a dispute about the distribution model is raging in the industry. [Mehr bei Gründerszene]

Don’t want to miss anything? Then subscribe to our Gründerszene newsletter! It appears every morning at 8:30 a.m. and brings you all the important news straight to your inbox.

Happy Friday!

Your Gründerszene editors

Source: https://www.businessinsider.de/gruenderszene/business/insolvenzverfahren-ftx-versucht-ledgerx-und-weitere-unternehmen-zu-verkaufen/

Leave a Reply