Search Results for: Celsius

Core Scientific, Inc. and Celsius Mining LLC Enter into Purchase Agreement for Core Scientific’s Texas Data Center Site, Agree to Settle All Existing Litigation

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

September 15, 2023 8 mins read

Founder and Ex-CEO of Celsius Network Files for FTC Case Dismissal

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

September 12, 2023 2 mins read

Federal Court Freezes Assets of Former Celsius CEO Alex Mashinsky

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

September 6, 2023 1 min read

US Bitcoin Corp (USBTC) Secures Deal with Celsius to Host 8,500 Miners at the Alpha Site

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

August 31, 2023 7 mins read

Celsius Disclosure Statement Approved by Court

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

August 18, 2023 4 mins read

Insolvent Celsius Network Announces App Discontinuation

In a recent filing, Celsius Network said that its app will be discontinued. Celsius, which debuted in 2017, has been mired in financial and legal disputes as of late. Despite these difficulties, the corporation is beginning to see the light as it prepares to become a new organization known as

August 14, 2023 1 min read

Judge Greenlights Fraud Lawsuit Against Celsius Founder

A judge in Manhattan state court determined on Friday that New York Attorney General Letitia James may proceed with her civil fraud lawsuit against Alex Mashinsky, the founder and former CEO of the defunct crypto lender Celsius Network. James sued Mashinsky in January before the former CEO of insolvent crypto

August 6, 2023 1 min read

Insolvent Celsius Network Lures Creditors With Extra 5% Deal

Insolvent Celsius Network LLC has struck a deal that will simplify its legal proceedings. The company has reportedly offered an extra 5% on its claims if a large number of its account holders agree to take part in a legal settlement over allegations of managerial wrongdoing. Celsius Network’s arrangements may

July 22, 2023 1 min read

Celsius Creditors Agree on $25 Million Disbursement Plan

The creditors of bankrupt cryptocurrency lender Celsius and the Series B holders have agreed on a plan to disburse $25 million to the shareholders, with $24 million going towards legal fees and the remaining $1 million being split evenly among the parties. While the terms of the sale to Galaxy

July 18, 2023 1 min read

Insolvent Celsius Network Converts $25 Million Worth of Altcoins

Post receiving approval from the U.S. court supervising its bankruptcy case, the insolvent cryptocurrency lender Celsius has begun selling its altcoin assets in exchange for Bitcoin (BTC) and Ethereum (ETH). After a brief halt in withdrawals due to a lack of client cash, Celsius filed for bankruptcy protection in July

July 17, 2023 2 mins read