Celsius Network, a bankrupt cryptocurrency lender, has agreed to allow cryptocurrency miner, Core Scientific to shut down over 37,000 mining rigs, which it hosted for Celsius during the miner’s bankruptcy proceedings. After deciding to reject its contract in recent days, Core Scientific (CORZ) will shut down mining equipment connected to
The bankruptcy filing of crypto lender Celsius network is still in process dragging the case in the U.S court. Early in July, the filing of chapter 11 bankruptcy came into existence which halted the withdrawals of its customers right then. Moreover, the Celsius requested all its customers to file their
Celsius Network, the bankrupt crypto lending company, has attracted 30 possible bids for its different assets, including its retail platform and mining businesses. According to a company presentation filed on Tuesday, more than 125 parties have approached since September. Also, 30 prospective bidders have signed non-disclosure agreements. As per Celsius,
An American bankruptcy court overseeing the insolvency of cryptocurrency lender Celsius Network has directed the return of about $44 million in digital currency. Judge Martin Glenn’s decision, as reported by Bloomberg, would affect a very tiny portion of the total client money kept by Celsius that has never been used
The exclusivity period for defunct cryptocurrency lender Celsius was extended until February 15, 2023. With the court’s OK, the struggling cryptocurrency lender has a few more months to submit a Chapter 11 reorganization plan. Two court sessions on December 6 resulted in the permission to prolong the term of exclusivity.
The Celsius Network’s bankruptcy filing in the U.S.Court remains a controversial issue in the global cryptocurrency industry as It’s been more than 5 months since its initiation. Now the crypto lender obtained court sanctions to reward bonuses worth up to $2.8 million to their employees in an attempt to prevent
This past Friday, insolvent cryptocurrency lender Celsius Network reported that Galaxy Digital (GLXY), founded by Mike Novogratz, had won an auction to buy the GK8 self-custody platform. The details of the arrangement, however, were kept under wraps. Galaxy’s co-president, Chris Ferraro, reportedly said that the business acquired the assets for
The casualties of the FTX collapse are not seemingly slowing down. Evidently, the bankrupted crypto exchange’s fall caused the global crypto market cap to plunge to $780 billion on Monday. Popularly, November 2021 turned out to be the crypto summer when the crypto market cap rose to $3 trillion. Notably,
Celsius, the bankrupt crypto lender has received approval for the bar date on Jan 3, 2023. The bar date is the deadline for the Celsius customer to file the claim for the entities the held until July 13. That is before the date, the network went into bankruptcy. This week,
Celsius reported being exposed to FTX. On November 11, the business tweeted that it has FTX contracts locked up for 3.5 million SRM ($1.3 million). It also disclosed that the FTT token was collateral for $13 million in loans to Alameda Research that were not adequately backed. Celsius also said
