Creditors of Collapsed South African Crypto Firm Vote to Accept Offer to Resu...
Creditors of a South African crypto trading firm, Africrypt, have agreed to a proposal recently tabled by an unnamed investor who is seeking to resuscitate the collapsed company. Africrypt’s Intellectual Property In addition to paying $4 million — which will be used to pay off some of the crypto firm’s debts — the investor is also willing to part with $1 million which will go towards the acquisition of 51% of Africrypt’s shares and the company’s intellectual property rights. As previously reported by Bitcoin.com News, an....
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An unknown investor has proposed to acquire a 51% stake in Africrypt — the collapsed cryptocurrency investment company — for a purchase price of $5 million. However, in exchange for the offer, the investor wants all criminal proceedings against Africrypt directors dropped.
Offer Must Be Supported by 75% of Creditors
According to a report by Moneyweb, Africrypt creditors are set to vote on the compromise offer on November 12, 2021. However, this offer can only become an order of the court if it receives support from 75% of the creditors.
As previously....
Investors in Africrypt, the now-defunct South African crypto platform, were recently reimbursed a portion of their invested funds. The payments were made by Pennython Project Management LLC as part of a settlement offer that potentially ends claims against Africrypt’s runaway directors.
White Knight Investor Identity Revealed
Investors in Africrypt, a collapsed South African cryptocurrency investment platform, recently began receiving payouts from a so-called white knight investor, a report has said.
According to an Itweb report, which named Pennython Project....
Ameer and Raees Cajee, the two directors of the South African crypto-investment platform, Africrypt, are set to participate in an inquest that seeks to seal the fate of the collapsed firm. The Death Threats According to an Itweb report, the Cajee brothers — who have agreed to testify on October 19 and 20 — will only do so virtually. The report confirms that both Ameer and Raees, who have already received several death threats, were initially scheduled to appear before the inquiry in the second week of September 2021. However, this was postponed after the lawyer for the Cajee....
It is always good to know how several banks around the world feel about Bitcoin, even though the outcome will be identical in most cases. The South African Reserve Bank does not consider Bitcoin and cryptocurrency legal tender, although that doesn’t make usage of these currencies illegal. South African Reserve Bank Creates Bitcoin “Grey Area.” A recent whitepaper by the South African Reserve Bank explains how Bitcoin and cryptocurrencies are not deemed legal tender in the country. However, contrary to popular belief, this does not mean the usage of Bitcoin is illegal in South Africa, as it....
A new unnamed investor has offered to bail out Africrypt, the collapsed South Africa-based crypto investment company, with $5 million. The offer, which does not require criminal charges against Africrypt directors to be dropped, must be accepted within seven days. A Better Offer A new mystery investor has offered to bail out the collapsed crypto investment outfit, Africrypt, with $5 million, a report has said. However, investors have been given seven days to accept an offer that was made on December 3, 2021. As previously reported by Bitcoin.com News, another unknown investor had....