Poolin auction bid lifted to $180 million: the court didn’t approve yet—don’t assume it’s in your pocket
In Poolin’s asset auction, the winning bid was raised to about $180 million. Compared with the previous benchmark bid of roughly $52 million, it’s up by about 2.5 times—around 3.5 times the original price.
The deal still needs approval from the U.S. Federal Bankruptcy Court in New Jersey and then completion/settlement. How much creditors can actually recover still depends on the court’s confirmation, the bankruptcy plan, and subsequent distributions. Wallet users’ tokens were previously used as collateral to borrow about $213 million from AntAlpha; claims against the founders personally and the Wallet-related federal criminal investigation are still not resolved.
A winning bid being higher doesn’t mean the funds have been received. Until the court approves it, don’t treat the $180 million as a “received” number.
In Poolin’s asset auction, the winning bid was raised to about $180 million. Compared with the previous benchmark bid of roughly $52 million, it’s up by about 2.5 times—around 3.5 times the original price.
The deal still needs approval from the U.S. Federal Bankruptcy Court in New Jersey and then completion/settlement. How much creditors can actually recover still depends on the court’s confirmation, the bankruptcy plan, and subsequent distributions. Wallet users’ tokens were previously used as collateral to borrow about $213 million from AntAlpha; claims against the founders personally and the Wallet-related federal criminal investigation are still not resolved.
A winning bid being higher doesn’t mean the funds have been received. Until the court approves it, don’t treat the $180 million as a “received” number.
