Bankruptcy

Hut 8

2026-10-01 02:38:07

Bidding Reopens for Poolin’s Texas Mining Assets, With Hut 8 Offer Valued at Up to $180 Million

A U.S. bankruptcy court in New Jersey has approved the reopening of bidding for Poolin’s Texas bitcoin mining assets, sending the sale process back into competition after objections tied to Hut 8’s proposed acquisition. A public auction is scheduled for 10 a.m. Eastern Time on Oct. 2, while competing bidders must submit offers by noon on Oct. 1. Hut 8’s affiliate remains the stalking-horse buyer under an agreement worth as much as $180 million, made up of $100 million in cash at closing and up to $80 million in milestone payments linked to future data center transactions. Court filings show those additional payments depend on qualifying leases and developments tied to acquired power resources for AI, high-performance computing, cloud computing and colocation facilities, but not facilities used primarily for crypto mining. The dispute traces back to a Sept. 10 auction, where Thor CALAP bid $180 million, above Hut 8’s $179 million offer. After later negotiations failed, Poolin turned to Hut 8’s proposal, saying it offered greater deal certainty. If another buyer prevails, Hut 8 would receive a $3 million breakup fee and $250,000 in expense reimbursement.

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Celsius

2026-09-21 13:38:22

Celsius bankruptcy estate sues BitMEX affiliates to recover 6,360.1666 BTC

The Celsius bankruptcy estate filed suit against BitMEX-affiliated entities on Sept. 12 in the U.S. District Court for the Southern District of New York, according to a post by Bitcoin News on X. The complaint alleges that the defendants carried out an improper liquidation in March 2020. The filing covers a total of 6,360.1666 BTC. That amount includes 1,325.8385 BTC that Celsius said it lost on March 12, along with another 5,034.3281 BTC that it acquired the following day from fund JST Alpha 1. The post also said BitMEX plans to cease exchange operations on Sept. 23. No further details were provided in the source material about the lawsuit claims or the planned shutdown.

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BitMEX

2026-09-18 07:26:26

Celsius sues BitMEX affiliates for 6,360 BTC days before the exchange shuts down

Celsius Network’s bankruptcy estate has filed suit against five BitMEX-linked entities in the U.S., seeking the return of about 6,360.1666 BTC liquidated during the March 2020 market crash. The complaint was filed on Sept. 12 through litigation manager Blockchain Recovery Investment Consortium, according to records from the U.S. Bankruptcy Court for the Southern District of New York. Celsius argues that BitMEX’s liquidation setup created a conflict because the exchange controlled the pricing trigger, the liquidation engine, and an insurance fund that received part of the liquidated assets. The filing says one Celsius leveraged position lost about 1,325.84 BTC on March 12, 2020, while investment fund JST lost about 5,034.33 BTC the next day. JST later assigned its claims to the Celsius estate. Using a Sept. 18 Bitcoin price of about $77,195 from CoinMarketCap, the disputed amount is worth roughly $491 million. The lawsuit also points to BitMEX’s March 13, 2020 service disruption, which the exchange attributed at the time to a DDoS attack. Celsius says selling pressure eased once the liquidation engine paused, though that remains an allegation rather than a court finding. BitMEX has already said it will end all trading services at 04:00 UTC on Sept. 23 after announcing the exchange shutdown in July.

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Bitcoin ATM

2026-09-10 15:23:47

Bitcoin Bancorp buys 2,547 Bitcoin Depot ATMs after bankruptcy filing

Bitcoin Depot, a Bitcoin ATM operator, has sold roughly a quarter of its more than 9,200 kiosks after filing for Chapter 11 bankruptcy protection in May. Publicly traded digital asset infrastructure company Bitcoin Bancorp (BCBC) won 2,547 ATMs for $620,750 and agreed to pay an additional $110,500 for related site agreements, intellectual property, trademarks, patents, and the BitcoinDepot.com domain. Before the filing, Bitcoin Depot reported a 49% year-over-year drop in first-quarter revenue, while profit swung from $12.2 million to a $9.5 million loss. In its last full financial report before bankruptcy, for the fourth quarter of 2025, the company valued all property and equipment at more than $26 million, with 98% tied to kiosks. Bitcoin Bancorp, based in Las Vegas and formerly known as Bullet Blockchain, trades at $0.04 on OTC Markets with a market capitalization of about $18.5 million. The company said the remaining closings are expected to be completed next quarter. The sale comes as regulators step up scrutiny of crypto ATMs, with 2025 scam losses reaching $389 million, up 58% year over year.

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Poland

2026-09-05 10:44:29

Polish lawmakers fail again to override crypto bill veto as Zondacrypto probe widens

Poland’s lower house failed again to override President Karol Nawrocki’s veto of crypto legislation, leaving the country without a designated domestic authority to supervise the market under the European Union’s Markets in Crypto-Assets Regulation, or MiCA. The Sejm voted 241-198, with three abstentions, missing the required 266 votes by 25. Nawrocki has said he supports crypto regulation but objects to what he sees as overly broad provisions, including compliance costs and powers to block websites. The political standoff is unfolding alongside a widening investigation into defunct crypto exchange Zondacrypto. Prime Minister Donald Tusk cited testimony from a key witness alleging a 2 million Polish zloty payment arrangement involving a foundation linked to former Justice Minister Zbigniew Ziobro, as well as a separate claim that an unnamed person promised to secure a presidential pardon. Prosecutors are investigating suspected fraud and money laundering tied to the case, which was merged in July with a probe into the 2022 disappearance of BitBay founder Sylwester Suszek. Prosecutors said in April that losses linked to Zondacrypto were estimated at no less than 350 million Polish zlotys, while the exchange’s Estonian operator, BB Trade Estonia, was declared bankrupt in August.

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BitMart

2026-09-03 09:34:32

Echo Base Forms BitMart Creditor Committee, Hires Counsel to Recover Frozen Funds

Echo Base, an institutional firm focused on stable digital assets, helped organize a BitMart creditors' committee on Sept. 2, according to Bitcoin.com News. The committee represents users whose assets remain frozen on the exchange and has hired legal counsel to evaluate recovery options, one of which is seeking bankruptcy proceedings without pre-arranged funding. The move follows an earlier unanswered overture. On Aug. 6, Echo Base proposed a plan worth up to $10 million to support a pre-negotiated bankruptcy filing by BitMart. Echo Base says the exchange never responded, and that its current actions stem from BitMart ignoring both the restructuring proposal and user withdrawal requests. In parallel, Sonn Law Group has opened an investigation into users with $500,000 or more in frozen assets at BitMart, weighing potential claims and routes for asset recovery. Echo Base CEO Roshan Dharia cautioned that time is running short, noting BitMart's staffing plans only keep operations running until January 2027. The longer the delay, he said, the fewer workable options remain.

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crypto projec

2026-08-28 09:10:17

RootData: Over 100 Crypto Projects Shut Down or File for Bankruptcy in First 7 Months of 2026

Hong Kong Economic Journal, citing RootData statistics, reported that more than 100 cryptocurrency projects announced shutdowns, bankruptcy, or indefinite suspension of services in the first seven months of 2026. The article, relayed by ChainCatcher, stressed that the actual closure count may be higher, because many projects never issued formal announcements and instead faded away quietly. It further said the closure wave is not restricted to one niche, but has spread widely across exchanges, wallets, DeFi protocols, DAO tools, Layer 2 networks and infrastructure projects, forming a sector-wide trend. The column’s takeaway, based on RootData’s tracking figures, is that the recorded shutdowns are merely a floor and the real toll is probably larger. In other words, a project that simply goes silent still counts as a failure in practice, even if no one files a formal notice. The column presents this as a wave across the whole industry.

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Poolin

2026-08-21 06:50:36

Poolin and Two Affiliates File for Chapter 11 Protection in New Jersey

Crypto mining pool operator Poolin Technology PTE. LTD and its affiliated entities, Lonestar Taproot LLC and Lonestar Dream, Inc., filed for protection under Chapter 11 of the U.S. Bankruptcy Code on July 22, 2026, according to the case information page maintained by Verita Global. The filing was submitted to the federal bankruptcy court in New Jersey. The jointly administered case is being overseen by Judge Eamonn J. O'Hagan under case number 26-18325. The docket timeline listed on the case page shows that the creditors' meeting has already been held on Aug. 28. The bid deadline is scheduled for Sept. 8, and a sale hearing for the assets is set for Sept. 18. The debtors are represented by Archer & Greiner, P.C. The case page also states that creditors may submit proofs of claim by mail to the KCC dba Verita Global claims processing center in El Segundo, California. The update identifies the filing as a Chapter 11 bankruptcy process involving Poolin and the two named related entities.

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