symbiont

ChainCatcher news, cryptocurrency mining company LM Funding today announced its acquisition of the assets of blockchain fintech company Symbiont for $2.6 million, which is expected to receive approval from the bankruptcy court.In December last year, Symbiont filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code, with assets and liabilities between $1 million and $10 million. LM Funding subsequently provided a $2 million secured loan to Symbiont and is currently its sole secured creditor. (source link)

ChainCatcher news, according to documents submitted to the U.S. Bankruptcy Court for the Southern District of New York, New York fintech company Symbiont.io filed for Chapter 11 bankruptcy protection on December 1, with assets and liabilities between $1 million and $10 million.The company, originally named Math Money FX, was founded in 2013 with the aim of helping financial institutions "reduce risk, save costs, and improve efficiency" using the Bitcoin blockchain. Symbiont had previously partnered with large institutions such as index fund giant Vanguard. Just a few months ago, SWIFT, which helps banks transfer funds across borders, announced it was piloting a blockchain project using Symbiont's technology. (CoinDesk)