China Evergrande’s EV arm drops after creditors seek bankruptcy proceedings for units
By Hong Kong newsroom HONG KONG (Reuters) - Shares of China Evergrande New Energy Vehicle fell 7% in Monday morning trade after individual creditors of two of its units sought court approval for the units to go through bankruptcy proceedings and
Gemini customers get back over $2 billion in crypto from Genesis bankruptcy
By Dietrich Knauth NEW YORK (Reuters) - Bankrupt crypto lender Genesis and crypto exchange Gemini have returned over $2 billion in crypto to 232,000 retail customers in their jointly managed Gemini Earn program, giving customers a 242% return on assets locked
Terraform Labs files for bankruptcy protection in US
By Mrinmay Dey (Reuters) - Terraform Labs (TFL), the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets in 2022, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday. Singapore-based Terraform Labs, in
Chinese EV startup WM Motor files for bankruptcy
By Qiaoyi Li, Zhang Yan and Brenda GohEditing BEIJING (Reuters) - Chinese electric vehicle startup WM Motor has filed for bankruptcy, marking the demise of a promising standout among China EV makers as price competition in the world's largest auto market
Gemini tries to line up other creditors in new Genesis bankruptcy plan
By Kanjyik Ghosh (Reuters) - Cryptocurrency exchange Gemini is trying to rally other creditors behind a plan to wring more money out of bankrupt crypto lending firm Genesis' parent company, Digital Currency Group (DCG), The Information reported on Friday. The new proposal
Fintech Vesttoo seeks Chapter 11 bankruptcy protection
By Carolyn Cohn LONDON (Reuters) - Israel-based fintech Vesttoo is seeking Chapter 11 bankruptcy protection in a U.S. court which will enable it to pursue legal action against those responsible for a fake collateral scandal, it said in a statement on