Crypto Chronicle with NewsCrypto

Welcome back NewsCrypto readers!

Today, we're zooming in on the latest Bitcoin shopping spree and collapsed projects like FTX, Celsius, Mt. Gox and many others. Will creditors ever see the money they lost or will it disappear forever?

Let’s find out.

Here's what we got on the menu today:

1. Bitcoin Shopping Spree

2. Crypto Bankruptcies and the Road to Recovery

3. Funny meme

Bitcoin Shopping Spree

MicroStrategy, known for its bullish stance on Bitcoin, has been on a shopping spree. Their latest acquisition? A whopping 14,620 Bitcoin, amounting to a cool $615 million. This brings their total spending on Bitcoin since November to nearly $1.2 billion. To put it in perspective, that's enough to buy an island.

Visionary or Bitcoin Fanboy?

Michael Saylor, MicroStrategy's Chairman and former CEO, seems to have a one-track mind: Bitcoin, Bitcoin, and more Bitcoin. With an average purchase price of $31,168 per Bitcoin, the company's total investment stands at around $5.9 billion for 189,150 Bitcoin.

The ETF Catalyst

Saylor has been vocal about the potential approval of spot Bitcoin ETFs, calling it a "catalytic event" for companies with Bitcoin exposure. His rationale? More ETFs mean more mainstream coverage, more education, and consequently, more interest in Bitcoin.

MicroStrategy vs. Bitcoin ETFs

While some might see the launch of Bitcoin ETFs as competition, Saylor is unfazed. He argues that while ETFs charge fees, MicroStrategy offers Bitcoin exposure without the extra cost.

Strategic Genius or High-Stakes Gamble?

MicroStrategy's aggressive Bitcoin strategy is a fascinating case study. Whether it's a stroke of genius or a gamble in the world's most sophisticated digital casino, only time will tell.

Crypto Bankruptcies and the Road to Recovery

2022 and 2023 have been nothing short of a rollercoaster for the crypto world, with several major players filing for bankruptcy. From the high-profile collapse of FTX to the strategic restructuring of Celsius.

Let's take a closer look at where all of the collapsed companies stand now.


FTX, once a titan in the crypto world, now finds itself in the throes of bankruptcy proceedings. With its former CEO, Sam Bankman-Fried, awaiting sentencing after a guilty verdict on fraud charges, the company's future hangs in the air.

Creditors are eyeing a recovery plan, but they might have to settle for November 2022 prices, which, let's face it, isn’t anywhere near their peak.


Celsius, after facing its own set of challenges, has been cleared to exit bankruptcy. The company is set to be managed by a consortium humorously named Fahrenheit, focusing on bitcoin mining. However, the SEC's raised eyebrows at this pivot mean Celsius isn't out of the woods just yet.

This is a real thing! First they took your money now they want you to pay for a shirt to unbankrupt them…


Voyager Digital, sharing a similar fate with Celsius, filed for bankruptcy around the same time. While it has reached a settlement with the FTC, the company's bankruptcy proceedings have been relatively quiet, with most of its available crypto assets already withdrawn by creditors.


BlockFi, another major player, has managed to emerge from bankruptcy. The company is now focused on recovering assets owed by FTX and Three Arrows, aiming to distribute crypto back to customers in the near future.


Genesis, which filed for bankruptcy in January, is in the midst of proceedings, attempting to recover significant sums from Gemini. The company's recovery plan, in collaboration with its parent company Digital Currency Group, could see creditor recovery rates as high as 90%.

Core Scientific

Core Scientific, a bitcoin miner, filed for bankruptcy in December 2022 but is on track to emerge from it soon. With a new investment and hosting agreement from Bitmain, the company is looking to close the year on a more positive note.

Mt. Gox

Nearly a decade after its dramatic collapse, Mt. Gox's creditors are finally seeing some repayments. In a surprising turn of events, some creditors have received payments via PayPal, marking a significant milestone in one of crypto's most infamous bankruptcy cases. However, the recovery has not been without its hiccups, including issues with double payments. And important to know, these repayments were made in Japanese yen.

Funny meme