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SAP Announces 2 Billion Euro Restructuring Plan Affecting 8,000 Jobs
cryptocurrency

SAP Announces 2 Billion Euro Restructuring Plan Affecting 8,000 Jobs

SAP SE announces a major restructuring plan, allocating €2 billion to reorient 8,000 roles towards AI-driven business areas, in response to the rapidly evolving tech industry landscape.

Core Scientific's Bankruptcy Exit: Financial Revival and Operational Expansion
cryptocurrency

Core Scientific's Bankruptcy Exit: Financial Revival and Operational Expansion

Core Scientific's court-approved bankruptcy plan sets the stage for its Nasdaq relisting, debt restructuring, and operational expansion, aiming to bolster revenue and shareholder value.

Google Fires Hundreds of Workers in Voice Assistant and Hardware Teams
cryptocurrency

Google Fires Hundreds of Workers in Voice Assistant and Hardware Teams

Google recently laid off hundreds of employees from its Voice Assistant and hardware teams. The layoffs are part of the company's cost-cutting measures and strategic restructuring amidst the rising competition from companies like Microsoft and OpenAI.

Dee Templeton Joins OpenAI's Board Amidst Corporate Governance Overhaul
cryptocurrency

Dee Templeton Joins OpenAI's Board Amidst Corporate Governance Overhaul

Microsoft's Dee Templeton joins OpenAI's board as a nonvoting observer amidst significant corporate governance changes following CEO Sam Altman's brief ouster and reinstatement.

Sam Altman Reinstated as OpenAI CEO Amid Board Restructuring
cryptocurrency

Sam Altman Reinstated as OpenAI CEO Amid Board Restructuring

Sam Altman returns as OpenAI's CEO, with a reconstituted board, after a brief ouster, underscoring his pivotal role in the AI industry.

Celsius to Transition to Mining-Only NewCo following Bankruptcy Court's Confirmation of Plan
cryptocurrency

Celsius to Transition to Mining-Only NewCo following Bankruptcy Court's Confirmation of Plan

Celsius Network, following bankruptcy court approval, is transitioning to a Bitcoin mining-focused entity to address regulatory challenges from the SEC.

SEC Raises Objections to Celsius Network's Restructuring Plan Involving Coinbase
cryptocurrency

SEC Raises Objections to Celsius Network's Restructuring Plan Involving Coinbase

The U.S. Securities and Exchange Commission (SEC) has filed a limited objection to the Chapter 11 restructuring plan of crypto lending platform Celsius Network. The objection, dated September 22, 2023, specifically targets the company's proposed arrangement with Coinbase for distribution services. The SEC is also currently engaged in a lawsuit against Coinbase, adding another layer of complexity to the situation.

Celsius Network to File Disclosure Statement for Restructuring Plan
cryptocurrency

Celsius Network to File Disclosure Statement for Restructuring Plan

Crypto lender Celsius Network will file a disclosure statement on April 12 regarding its Chapter 11 restructuring plan. The statement is aimed at providing adequate information for claim holders to vote on the proposed plan, which would create a public platform fully owned by Earn creditors called NewCo. The committee of unsecured creditors will appoint the majority of the firm’s board members, with no Celsius founder involvement or relationship.

Celsius Network Announces Disclosure Statement for Chapter 11 Plan
cryptocurrency

Celsius Network Announces Disclosure Statement for Chapter 11 Plan

Celsius Network, a bankrupt crypto lender, has announced it will move forward with its Chapter 11 restructuring plan by filing a disclosure statement on April 12. The statement is aimed at providing "adequate information" for claim holders to vote on the proposed restructuring plan sponsored by NovaWulf. The plan proposes creating a public platform fully owned by Earn creditors called NewCo, with no involvement from Celsius founder.

Crypto Lender Celsius to Proceed with Chapter 11 Restructuring Plan
cryptocurrency

Crypto Lender Celsius to Proceed with Chapter 11 Restructuring Plan

Celsius Network, the bankrupt crypto lender, has announced it will proceed with its Chapter 11 restructuring plan, with a disclosure statement containing information for claim holders to be filed on April 12. The proposed restructuring plan is sponsored by NovaWulf.

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