Most qualified creditors have already received their liquid crypto payments via PayPal and Coinbase, the two distribution agents of the defunct crypto lender Celsius, as per the announcement. The legal team representing Celsius, Kirkland & Ellis, recently updated the court on the payouts to creditors as stated in the restructuring
Celsius Network LLC, a prominent cryptocurrency lending platform, has successfully emerged from bankruptcy, signaling a triumph for the company and its stakeholders. The completion of the confirmed plan of reorganization, approved by an overwhelming 98% of the Company’s account holders and confirmed by the Bankruptcy Court for the Southern District
Projected Lower Management Fees and Increased Liquid Cryptocurrency Distributions for Creditor Payouts Beginning in January 2024 Debtors to File Motion for Revised Transaction with Focus on Bitcoin Mining HOBOKEN, N.J.–(BUSINESS WIRE)–On November 9, 2023, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) confirmed
MIAMI–(BUSINESS WIRE)–Today, U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp (USBTC) announces two significant developments: the progression of its merger with Hut 8 Mining Corp (“Hut 8”) and court approval of the Celsius restructuring plan. USBTC is moving forward with its all-stock merger (the “Transaction”) with Hut 8, an
After a judge in Delaware bankruptcy court accepted Celsius Network’s customer payback plan on Thursday, the defunct crypto lending firm is on pace to emerge from bankruptcy. The proposal, filed with the bankruptcy court on October 2, proposed allocating $450 million to start up a new company. Dubbed NewCo, it will
Celsius Mining LLC to Acquire and Operationalize Core Scientific’s Partially Developed Ward County Bitcoin Mining Data Center Site; Companies Agree to Settle All Existing Litigation AUSTIN, Texas–(BUSINESS WIRE)–$CORZQ #bitcoin—Core Scientific, Inc. (OTC: CORZQ) (“Core Scientific” or “the Company”), a leader in high-performance blockchain computing data centers and software solutions, and
The founder and ex-CEO of defunct cryptocurrency lender Celsius, Alex Mashinsky, has filed a fresh application in court asking for the U.S Federal Trade Commission (FTC) action against him to be dismissed “in its entirety.” The ex-CEO of Celsius had his lawyers contend that there is insufficient evidence to prove
Following a request from the United States DOJ, a federal court has ordered the freezing of certain financial accounts and assets belonging to Alex Mashinsky, former Celsius CEO. A motion to unseal a restraining order concerning Mashinsky’s assets was approved by a court on September 5, according to a filing
MIAMI–(BUSINESS WIRE)–U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC” or “the Company”), a leading operator of large-scale data centers for new-age workloads such as digital asset mining, is thrilled to announce that it has secured a deal with Celsius Network LLC (“Celsius”) to host an initial 8,500 miners
Plan Focused on Distributing a Meaningful Liquid Cryptocurrency to Customers as well as Equity in NewCo Celsius Creditors Encouraged to Vote in Favor of Chapter 11 Plan by September 22, 2023 HOBOKEN, N.J.–(BUSINESS WIRE)–Celsius Network LLC (“Celsius” or the “Company”) announced today that its Disclosure Statement was approved by the
