One hearing into its lengthy bankruptcy process, Celsius has already sparked controversy regarding its restructuring plans and claims over user funds. According to Kirkland & Ellis, the law firm r...
Tag: Celsius
Mike Novogratz Says His Heart Physician Lost $1 Million with Celsius
Alex Dovbnya Celsius recently filed for bankruptcy after locking user funds last month While speaking at the Bloomberg Crypto Summit, Galaxy Digital CEO Mike Novogratz revealed that his heart physicia...
Celsius Network Lawyers Argue That Users Have No Right To Their Crypto
Since Celsius Network limited withdrawals, swaps, and transfers last month, it has been a rollercoaster for users trying to get their funds off the platform. It all came to a head last week when the l...
Who Will Take Worst Hit After Celsius Bankruptcy Filings?
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Crypto lender Celsius loaned $75 million to Three Arrows Capital
Crypto lender Celsius loaned $75 million to collapsed hedge fund Three Arrows Capital (3AC). Documents obtained by The Block show that Celsius made two loans in the stablecoin USDC to 3AC. One loan ...
Reddit Users Report Problems With Coinbase, Questions Celsius Like Policy
Crypto exchange Coinbase has come under fire as rumors of potential insolvency continue to grow. Now, Reddit users have started pointing out problems with Coinbase including withdrawals and transfers ...
Former employees say issues plagued crypto company Celsius years before bankruptcy
Problems at Celsius appear to have been simmering for years before the crypto lender filed for bankruptcy. The crypto company saw a range of internal missteps leading up to its recent turmoil, accordi...
Celsius Network Attempting to Re-instate Trust of Their Stakeholders
Celsius Network, on Monday, presented a plan of action to their stakeholders. According to the presentation, Celsius Network expects to push forward its balance sheet so that it can fund mining operat...
Celsius Is Hoping for a Bull Market to Repay Customers
Key Takeaways Celsius has revealed it plans to reorganize and continue operating rather than face liquidation. The insolvent crypto lender said it will allow customers to withdraw cash at a discount o...
Celsius legal team throws investors under the bus
It is yet another bitter day for the cryptocurrency industry. The attorneys for the failed crypto lender Celsius claimed that user money belonged to the business, not the customer. According to the ba...
Celsius Network Defends Bitcoin Mining Plans Amid Bankruptcy
The renowned crypto lender Celsius Network defends its Bitcoin mining plans amid bankruptcy concerns. The New Jersey-based venture gained approval from Martin Glenn, a US Bankruptcy Judge, to spend 3....
This is How 3AC, Celsius Network & Terra (LUNA) Crash Are All Interconnected
The crypto lending platforms are not in a good position right now where bankruptcy is hovering around the firms. The major of them include Three Arrow Capital (3AC) and celsius network celsius network...
Celsius lawyers claim users gave up legal rights to their crypto
Celsius’s 1.7 million registered users across over 100 countries gave up title to the crypto they deposited into Earn and Borrow accounts, according to the firm’s lawyers. At the first bankruptcy hear...
Celsius Legal Team Argues That Customers Signed Over Their Crypto
After about a month of hemming and hawing, Celsius Network recently filed for Chapter 11 bankruptcy protection. In the month leading up to the pretense dropping, customers’ access to their funds was c...
Celsius Begins Restructuring, Receives Approval for Bitcoin Mining Facility
Celsius Network has received approval to construct a new bitcoin mining facility, as its plans to financially restructure the business take off. The company is starting a new journey, which will be cl...
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25
Reducing your initial debt of $820 million to just $0.013 over a month can’t be easy. And, it’s hardly surprising that such a heroic dash has led Celsius to bankruptcy. Last week, the crypto lending p...
After Declaring Bankruptcy, Celsius Network Discloses Its Restructuring Plan! – Coinpedia – Fintech & Cryptocurreny News Media
On July 13, exactly one month after halting withdrawals and transfers from accounts, cryptocurrency lender Celsius Network filed for bankruptcy. Judge Martin Glenn of the U.S. Bankruptcy Court for the...
Celsius Bankruptcy Filings Hint Retail Customers Will Bear Brunt of Its Failure
Liquidity-strapped crypto lender Celsius Network filed for Chapter 11 bankruptcy protection in the Southern District of New York on Wednesday, more than a month after it halted customer withdrawals be...
Celsius Unveils Recovery Plans in Bankruptcy Hearing
Key Takeaways Celsius’ first bankruptcy hearing was held on Monday. In the hearing and a related document, the firm detailed plans that will allow customers to recover their balances. Celsius su...
US-Based Lending Firm Owes $439,000,000 to Embattled Crypto Firm Celsius: Report
A troubled crypto brokerage that recently filed for bankruptcy says they are owed hundreds of millions of dollars by a US-based private lending firm. According to a new report by the Financial Times (...
Investors lost over $100M after Invictus Capital moved funds into UST, Celsius against their wishes
Invictus Capital, a crypto investment firm based in South Africa, moved crypto from funds designated for investments with “no anticipated downside risk” into Terra USD and held the tokens through the ...
Anatomy Of The CeFi Implosion
getty getty I have been and still am a big fan of DeFi (decentralized finance) and for that matter CeFi (centralized finance) but the recent implosion highlights the issues for all financial services....
Bankruptcy lawyers believe Celsius customers may have to wait years for settlement
Lawyers commenting on Celsius’s recent bankruptcy filing told Reuters that users could face a long, drawn-out process in the path to recover their funds. “Customers should now buckle up for a bumpy ri...
Celsius Customers Could Wait Years to Access Funds
The prospects of Celsius’ creditors recovering their funds from the exchange any time soon are looking slim, with parties advised to brace themselves for an extended tussle in court. Celsius sent shoc...
Crypto Whistleblower Who Predicted Celsius Downfall Claims Its CEO Lied
According to a crypto investigative journalist, Otterooo, Celsius CEO Alex Mashinsky told a list of lies right before Celsius filed for a Chapter 11 bankruptcy. Citing the Celsius Bankruptcy filings, ...
Last Week [In] Crypto: 3AC Founders Vanish, Celsius Faces Class Action Lawsuit, Binance Accused of Breaking Sanctions on Iran
Be[in]Crypto has scoured the crypto industry for the leading stories that reverberated during the last week. The stories range from the weak Reserve Risk Indicator for Bitcoin, crypto personalities ru...
Here’s How The Celsius Bankruptcy Has Impacted Bitcoin Mining – Coinpedia – Fintech & Cryptocurreny News Media
The Celsius network’s bankruptcy has imbalanced the whole crypto market, including the mining sector. On Wednesday, Celsius’s mining sector filed for creditor protection. As per the filing, the compan...
Celsius Network Users May Face Prolonged Waiting Time Over Repayment: Report
A new report has revealed that users of troubled crypto lending platform Celsius may have to wait a long time to access their funds frozen on the platform. Recall that the firm had filed for voluntary...
Arkansas Resident Alleges Celsius Of Running A Ponzi Scheme –
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Tezos co-founder Kathleen Breitman Says Celsius Insolvency Is Not A Surprise
Celsius’ bankruptcy filing is unsurprising says Tezos co-founder Kathleen Breitman. Breitman calls Three Arrows Capital’s insolvency uniquely bad. The second and third-order effects of the Terra...