Bankrupt Mt. Gox’s Biggest Creditor Won’t Sell Returned Bitcoin (BTC) - Bloomberg: The Mt Gox Investment Fund — which bought claims against the bankrupt digital-asset platform — doesn’t plan to sell the tokens that are scheduled to be returned in September, according to a person familiar with the fund’s thinking, who asked not to be identified discussing private information.
NJOY Investment Nets $1.3 Billion Bonanza for Hedge Fund: Mudrick bought a controlling 51% interest in NJOY for $20 million shortly after it emerged from bankruptcy in early 2017. Mudrick added to and sold parts of its stake over the years, betting NJOY could be turned around by increasing distribution of its products under new management and with more money.
US Crypto Caution Adds Hurdle to Silvergate’s Rescue Effort - Bloomberg: Receivership is a ‘distinct possibility,’ Wedbush says
CFTC head says stablecoins are in agency's jurisdiction without 'clear direction from Congress': The CFTC's head argued that most stablecoins could be considered commodities if Congress doesn't pass a comprehensive law
Silvergate Capital Corporation Announces Intent to Wind Down Operations and Voluntarily Liquidate Silvergate Bank : In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward. The Bank’s wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets.
Silvergate shutting down operations and liquidating bank: All deposits will be fully repaid, according to a liquidation plan shared on Wednesday afternoon. It is unclear, however, how the crypto-friendly bank plans to resolve claims against its business.
Embark Trucks lays off 70% of employees - FreightWaves: In a filing with the Securities and Exchange Commission on Friday, San Francisco-based Embark said it was laying off 230 employees by the end of the second quarter and is looking for a buyer. Liquidation is another option, the filing said.
Silvergate (SI) Stock Tanks on Plan to Wind Down Bank Operations and Liquidate - Bloomberg: Company specialized in services for crypto clients like FTX; as digital assets plunged Silvergate lost billions in deposits