Bitcoin Theft and Executives’ Fight Push Cryptocurrency Platform Cred to Bankruptcy – Wall Street Journal

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Online cryptocurrency platform Cred Inc. filed for bankruptcy protection, blaming alleged mismanagement and a bitcoin thief while owing clients and customers $140 million.

The company, which made money investing cryptocurrencies it held for customers, sought chapter 11 in the wake of a legal tussle between co-founder, Chief Executive and former PayPal official Daniel Schatt and former executive James Alexander, who departed from Cred on bad terms in June.

Cred…

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