'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection as the fallout from the collapse of crypto exchange FTX spreads outward.
In a Monday filing for bankruptcy protection in New Jersey, where it is based, BlockFi claimed more than 100,000 creditors and liabilities ranging from US$1 billion to US$10 billion.
"Chapter 11 is a transparent process and we will continue to communicate with our clients to ensure they hear directly from us," BlockFi said in a tweet.
Cryptocurrencies were in retreat Monday in what has already been a disastrous year. Bitcoin, among the most widely traded cryptocurrencies, has plunged almost 70% in 2022 to below $16,000 apiece.
BlockFi Inc., which was founded in 2017, said bankruptcy protection will allow it to stabilize the company and restructure. That restructuring will include an attempt to recover all obligations that it is owed by its counterparties, including FTX. BlockFi, which was bailed out by Sam Bankman-Fried's FTX early last summer, said it anticipates recoveries from FTX will be delayed.
FTX filed for bankruptcy protection earlier this month. BlockFi said that because of the FTX collapse, it was no longer able to do business as usual and was pausing client withdrawals.
"With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the company," Mark Renzi of Berkeley Research Group, BlockFi's financial advisor, said in a prepared statement Monday.
The implosion of FTX is still being sorted out and it is unknown how much collateral damage it could inflict.
There are already comparisons to the collapse of the storied Wall Street bank Lehman Brothers in 2008, at least within the confines of cryptocurrency. The bank trafficked heavily in subprime mortgages that lost almost all of their recognized worth and shook the U.S. and global economy.
BlockFi has US$256.9 million in cash on hand, which it expects will provide enough cushion to support some operations during the restructuring.
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a suspect in a homicide investigation after a man was slashed in downtown Toronto on Sunday.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.