Celsius Network founder and ex-CEO Alex Mashinsky withdrew $10 million before the company froze customer withdrawals and ultimately declared bankruptcy, the Financial Times reports. Citing people fami...
Tag: Bankruptcy
Celsius: A look into the crypto lender’s ex-CEO may solve the bankruptcy puzzle
Alex Mashinsky, the single-most controversial figure in the Celsius Network [CEL] bankruptcy saga, was back in the spotlight. And this time around, the claims that haunt the executive aren’t ones that...
Celsius founder Alex Mashinsky withdrew $10M weeks before bankruptcy – FT
Celsius Network’s founder Alex Mashinsky reportedly withdrew $10 million from the struggling crypto lender a few weeks before the firm froze its customer funds and filed for bankruptcy, the Financial ...
Former Celsius CEO Withdrew $10M Ahead of Bankruptcy to ‘Pay Taxes’
Former Celsius CEO Alex Mashinsky withdrew $10 million in May to pay state and federal taxes and also used it for ‘estate planning.’ A spokesperson for Mashinsky said that he had deposited crypto that...
Celsius founder reportedly withdrew $10M before bankruptcy filing: FT
Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy. The wi...
Justice Department seeks to block withdrawal motion in Celsius case
The representative for the Department of Justice in the Celsius bankruptcy case is looking to block the firm’s attempt to reopen withdrawals for certain customers until after an independent inve...
Celsius Mining claims hosting provider Core Scientific violated bankruptcy terms
Celsius Mining, the mining arm of the bankrupt crypto lender, filed a motion Wednesday against its hosting provider Core Scientific, accusing the company of breaching their agreement and violating ban...
Amidst bankruptcy proceedings, Celsius head Mashinsky resigns
Join Our Telegram channel to stay up to date on breaking news coverage 2022 has been more or less, a period of total chaos for the Defi sector. As one of the most successful blockchain categories, Def...
Court appoints examiner in Celsius bankruptcy case
The court has approved an examiner for the Celsius bankruptcy case, according to a new order signed by bankruptcy judge Martin Glenn. The U.S. Trustee, the representative of the Department of Justice ...
Voyager files proposed order to facilitate FTX sales process
Voyager counsel filed a proposed order last night to authorize its sale to FTX US, providing more insight on the $1.4 billion winning bid and the path forward for customers. After a two-week-long au...
Celsius Network CEO Alex Mashinky Resigns Amid Bankruptcy
5 hours ago | 2 mins read Defi News The company has been granted authorization to sell Bitcoin it has mined. Celsius Network was silent for weeks before filing for bankruptcy. The CEO of the defunct c...
Celsius CEO Resigns amid Broader Bankruptcy Tango
Alex Mashinsky, the Chief Executive Officer of the embattled crypto lending firm Celsius Network, has tendered his resignation as the head of the firm, effective immediately. As contained in a Press R...
Celsius CEO Alex Mashinsky Resigns Amid Tumultuous Bankruptcy Proceedings – Bitcoin News
On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve ...
FTX Wins Bid to Buy Crypto Lender Voyager Digital’s Assets Out of Bankruptcy
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Celsius Network CEO Resigns Following Bankruptcy Filing
Celsius Network has seen months of turmoil as the company halted operations, was hit with lawsuits and filed for bankruptcy in the United States. Now, its CEO and founder Alex Mashinsky submitted his ...
Court approves more first-day motions in Compute North bankruptcy case
Bankrupt bitcoin mining hosting provider Compute North received approval today to operate its cash management system, pay insurance obligations and file a list of its creditors. Judge Marvin Isgur of ...
Crypto Investors Got Burned by Celsius. Then They Battled Back.
Cryptocurrency lender Celsius Network LLC attracted scores of people over the last five years who wanted to make money betting on bitcoin. After a crypto crash pushed the company into bankruptcy this ...
Compute North’s CFO details the firm’s collapse amid first-day filings
A series of filings is providing more color on why Compute North filed for bankruptcy protection just one day after the firm began the Chapter 11 process. A hearing took place this morning to approve...
Compute North bankruptcy case: CFO declares the cause of filing bankruptcy
Crypto winter among other reasons for initiating chapter 11 proceedings ‘Change’ in relationship with Generate Capital, its largest creditor The company will continue operations after Friday’s hearing...
Compute North sued two months before declaring bankruptcy
Bitcoin mining host provider Compute North is facing a lawsuit from one of its partners for failing to return almost $1.4 million after an agreement went sour. NBTC Limited, a subsidiary of Chinese ga...
Celsius investors file for ‘fiduciary’ to advocate for them in bankruptcy case
Two investors holding equity in crypto lending platform Celsius filed a request on Thursday for a committee to represent their interests in bankruptcy proceedings. Growth equity firm WestCap and Quebe...
Bitcoin Mining Firm Compute North Files for Chapter 11 Bankruptcy – crypto.news
Compute North Holdings, a firm that offers data center services to cryptocurrency miners and blockchain firms, filed for bankruptcy in Texas. Compute North Applies for Bankruptcy Compute North, a Bit...
Bitcoin Mining Data Center Firm Compute North Files For Bankruptcy
Compute North, a data center provider for cryptocurrency miners and blockchain companies, has filed for chapter 11 bankruptcy at a Texas court, as energy costs spiral and the crypto market’s prolonged...
BTC mining firm Compute North files for bankruptcy
Bitcoin (BTC) mining hosting firm Compute North has filed for Chapter 11 bankruptcy amid growing pressure on the firm due to the effects of crypto winter and rising energy costs. The firm’s CEO, Dave ...
Bitcoin Mining Firm Compute North Files Bankruptcy
7 hours ago | 2 mins read Bitcoin News Back in April, the firm said that work had begun on a Granbury, Texas, co-location plant. Compute North has at least 200 creditors who are owed a total of almost...
Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy Protection – Bitcoin News
Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition fi...
Compute North, one of the largest crypto mining firms, files for bankruptcy
CEO steps down The company had closed $385 million in equity and debt this Feb Compute North might be a victim of crypto winter US based cryptocurrency mining company Compute North has filed for bankr...
Compute North Files for Bankruptcy as Crypto-Mining Data Center Owes up to $500M
However, Hive decided to back out of the deal with Compute North, after seeing risk of higher power costs in Texas, president and chief operating officer, Aydin Kilic, told CoinDesk. “In doing o...
Celsius shareholders want their own legal representation in bankruptcy case
Celsius shareholders have requested an official legal representation that would represent their interest in the bankruptcy proceedings, according to a Sept. 22 court filing. According to the filing, t...
Washington State Hops on Celsius Network’s Bankruptcy Case
Celsius has been grilled by state watchdogs for alleged “financial mismanagements.” In a recent turn of events, Washington’s Assistant Attorney General Stephen Manning filed a motion on September 22nd...
Bitcoin Miner Marathon Digital Downgraded at BTIG on Headwinds From Compute North’s Bankruptcy
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Bitcoin mining firm Compute North files for bankruptcy
Compute North, a leading operator of cryptocurrency mining data centers and which counts multiple top Bitcoin (BTC) mining firms as partners, has filed for bankruptcy. The Minnesota-based company, whi...