Defi News Judge Martin Glenn’s decision, would affect a very tiny portion of the total client money. Just 15,680 consumers held around $43.87 million in “Pure Custody.” An American bankruptcy court ov...
Tag: Celsius
Bankruptcy Judge Orders Celsius to Return $50 Million to Customers
Martin Glenn, the judge overseeing Celsius’ bankruptcy proceedings, has ordered the crypto lending firm to return cryptocurrency worth approximately $50 million to users who use custody accounts, acco...
Galaxy Digital gets 60% off Celsius assets after crypto lender’s bankruptcy
Galaxy Digital, Mike Novogratz’s crypto-focused financial services firm, announced Friday that it had won an auction to purchase GK8 from insolvent cryptocurrency lender Celsius Network. Price lower t...
Celsius Bankruptcy Judge Orders Return of $50M in User Assets
Chief bankruptcy judge of the Southern District of New York Martin Glenn has ordered failed crypto lender Celsius Network to return cryptocurrency worth $50 million back to its customers. Glenn delive...
Celsius Bankruptcy Ruling Could Set Precedent for FTX
A U.S. judge has determined that certain customers of bankrupt crypto lender Celsius Network are entitled to receive their deposits back. Celsius Network was among the larger crypto platforms to go ba...
Celsius Ordered To Return $44M To Users
A United States court has ordered the bankrupt crypto company Celsius to refund its customers with crypto assets worth $44 million. Judge Orders Crypto Returns The crypto lender, which announced its ...
Judge orders Celsius to reimburse $50 million to crypto investors
A U.S. bankruptcy judge has ordered Celsius Network, a defunct crypto lender, to reimburse $50 million worth of crypto to custodial account holders. Celsius Custody account holders finally have justic...
Celsius ordered to return $50M to crypto investors
Crypto investors have seen the worst of financial winters in 2022. However, that narrative is about to change for some Celsius crypto investors. Recent reports indicate that a U.S. bankruptcy judge in...
Judge orders Celsius to return $50m crypto to custody account holders
A U.S. bankruptcy judge ordered Celsius to return some coins. Meanwhile, Celsius has asked the judge for permission to sell the $18 million worth of crypto to keep paying its bills. As per a recent Bl...
Celsius Ordered to Return $44M of Customer’s Custodied Crypto
In a hearing on Dec. 7, bankruptcy judge Martin Glenn ordered the embattled crypto-lending firm to return funds that were not part of its yield-bearing accounts. The total is around $44 million, which...
Mike Novogratz’s Galaxy Buys Dirt-Cheap Celsius Assets
Alex Dovbnya Galaxy Digital, Mike Novogratz’s cryptocurrency firm, has agreed to buy Israeli cybersecurity company GK8 for $44 million According to a recent court filing, Galaxy Digital, Mike Novograt...
Celsius must return $44 million in crypto to users: Bloomberg
Crypto lender Celsius Network must return around $44 million worth of crypto back to customers, even if it didn’t enter Celsius’s interest-bearing accounts. Chief Bankruptcy Judge M...
Celsius Chapter 11 Update and Galaxy’s Acquisition of GK8
December 7, 2022, 10:16AM EST • 3 min read Quick Take Galaxy Digital agrees to purchase GK8 from Celsius for ~$44.0mm Required escrow deposit of ~$5.4mm from November 3, 2022 agreement Celsius KERP a...
Bankrupt Crypto Lender Celsius To Release $2.8 Million In Bonuses To Prevent Staff ‘Poaching’
Celsius Network employees are now aware that the company, which filed for Chapter 11 bankruptcy in July, was given the green light from a bankruptcy court judge to distribute $2.8 million in incentive...
Court gives Celsius new deadline on restructuring
Bankrupt crypto exchange Celcius sees a new deadline for submitting its restructuring plan. The court ordered the company to present it by February 15. On Monday, Celsius announced the new development...
Insolvent Crypto Lender ‘Celsius’ Granted Extension by Court
10 seconds ago | 2 mins read Defi News Celsius has a few more months to submit a Chapter 11 reorganization plan. The crypto lending firm had declared bankruptcy on July 13. The exclusivity period for ...
Customer Fury Over Crypto Lender Celsius Staff Bonuses
Celsius Network won court approval to distribute bonuses worth $2.8 million to its employees. But what about users’ funds? A U.S. bankruptcy court has approved the key employee retention program (KERP...
Celsius team awaits judge’s approval to sell stablecoins
The Celcius team has been discussing their motion to request authorization to sell stablecoin in court this morning. According to the most recent reports, the motion is intended to provide liquidity f...
Celsius Network Secured Court Approval to Remunerate its Employees
14 seconds ago | 2 mins read Exchange News Non-executive employees may get rewards from Celsius Network. U.S. Court approved Celsius’s request to withhold the proceedings until February 15, 2023. The ...
Court sets new deadline for Celsius restructuring plan
Bankrupt crypto lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The court approval gives the troubled crypto lender another couple of months to file for a Chapte...
Celsius gets extension for chapter 11 reorganization plan
Embattled crypto lender Celsius has received approval from the bankruptcy court to extend its timeline for submitting a chapter 11 reorganization plan until Feb. 15, 2023. A Chapter 11 reorganization ...
Celsius receives extension to submit Chapter 11 reorganization plan
Bankrupt crypto lender Celsius received court approval to extend its exclusivity period — the time when it maintains the exclusive right to submit a Chapter 11 reorganization plan — to Feb. 15. ...
Galaxy Digital to Acquire Israeli Custody Firm GK8 from Celsius Network
Amongst other things, GK8 will help solidify GalaxyOne, the bigger company’s trading platform. Cryptocurrency financial services firm, Galaxy Digital Holdings Ltd (TSE: GLXY) has been selected as the ...
Novogratz’s Galaxy Digital to acquire Celsius’ GK8 in bankruptcy garage sale
Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and c...
Celsius Network gets a break after Galaxy Digital purchases GK8
No Result View All Result © Copyright 2022. The Coin Republic Are you sure want to unlock this post? Unlock left : 0 Yes No Are you sure want to cancel subscription? Yes No Source: https://www.thecoin...
Celsius Clients Now Moving for Further Bankruptcy Process
In a recent interview with CNBC on December 03, 2022, A former director at Celsius told that the company’s failure to match its assets and liabilities contributed to the hole in its balance sheet. The...
Will Clients Of Bankrupt Celsius Platform Get Their Funds Back?
Now bankrupt crypto lender Celsius, which managed assets worth around $12 billion earlier in the year, was forced into bankruptcy in July after crypto prices spiraled down, thus causing an industrywid...
Galaxy Digital Buyout of GK8 from “Bank Run” Celsius
Mike Novogratz’s firm Galaxy bought GK8 from Celsius. Back story of Celsius and the recent deal. Improvements at the GK8 after the Auction deal. Mike Played It Right Mike Novogratz founded crypto-cen...
Celsius Network finds some respite after Galaxy Digital acquires GK8
Galaxy Digital bought GK8 from bankrupt Celsuis Network Galaxy to expand its company in Tel Aviv after acquisition In a relief to Celsius creditors, New York-based crypto investment firm Galaxy Digita...
Galaxy Digital Wins Celsius Bankruptcy Auction to Acquire Crypto Custodian GK8
Mike Novogratz’s Galaxy Digital has won the bid to acquire GK8, a self-custody crypto firm. GK8 was first acquired by Celsius in November 2021 for $115 million. After Celsius filed for bankruptcy, the...
Mike Novogratz’s Galaxy Digital To Buy Assets Of Bankrupt Celsius
Galaxy Digital (GLXY), owned by Mike Novogratz, has won the auction to acquire the self-custody platform GK8 from the defunct cryptocurrency lender Celsius Network, the company announced on Friday. Ho...
Celsius Gets Cash Infusion From Prime Trust as Scammers Target Customers
As if a prolonged bankruptcy wasn’t enough, court documents show the story of defunct crypto lender Celsius has a new wrinkle: scammers impersonating lawyers involved in its Chapter 11 proceedings. Th...