The Celsius network filed for bankruptcy last month. Withdrawals and transfers from user accounts have been suspended since June. A prospective acquirer of the assets of the Celsius network is Ripple Labs, the organization that created the XRP cryptocurrency. According to Reuter’s article, the blockchain payments startup is interested in
Mashinsky’s wallet traded 17,475 CEL tokens for $28,242 in ether (ETH). The CEO had more tokens than the next four holders combined. Crypto intelligence outfits Nansen and Arkham Intelligence have identified a $CEL address associated with Celsius CEO Alex Mashinsky that has liquidated part of its assets for the first
Bankruptcy proceedings have been halted, and client funds have been frozen. EquitiesFirst seems to be a creditor of crypto hedge firm Three Arrows Capital (3AC). EquitiesFirst, a single counterparty that owes Celsius $439 million, has been making monthly payments of $5 million to clear its debt with the company. Due
Celsius filed the Chapter 11 bankruptcy protection. Chapter 11 allows a company to continue operating while restructuring its debt. After a month of turbulence, cryptocurrency firm Celsius has filed for Chapter 11 bankruptcy protection to restructure in a way that increased value for all stakeholders in the US Bankruptcy Court
DFR is set to investigate the crypto lending platform, Celsius. As per DFR, Celsius is an ‘unregistered security’, it operated outside the law. The U.S based Vermont Department of Financial Regulation (DFR), has a recent update on the crypto firm, Celsius Network. According to a statement issued on Tuesday, DFR
Almost a tenth of the asset’s $4.4 billion market value has been rescued. More than 23,000 WBTC (equivalent to $440 million) were returned. After retrieving 400,000 Staked Ethereum in collateral from an Aave loan, the troubled crypto lending company Celsius has paid off virtually all of its outstanding DeFi debt.
Celsius Network paid off $113,105,000 on its Aave and Compound loans. Celsius freed up more than $450 million in collateral. Since last week’s wave of bitcoin loan repayments, the troubled cryptocurrency lender Celsius Network which has suspended customer withdrawals due to liquidity issues has paid off $113 million on its
Celsius Network has designated new legal practitioners from Kirkland & Ellis LLP in the hope of revamping the damage control protocols, as per the resources of a close acquaintance. The old law firm that represented Celsius was Akin Gump Strauss Hauer & Feld LLP. The network passed all its withdrawals
Celsius, a leading crypto loan platform, is now experiencing liquidity challenges. The corporation has maintained that it is in excellent health despite the market slump. Tether has informed investors and members of its community that Celsius Network’s recent loan liquidation has no detrimental effect on its reserves. According to the
Stone has been seeking to settle “a significant sum of money” that Celsius owes KeyFi. Stone claimed that the DeFi account 0xb1 was handling roughly $2 billion in assets. Jason Stone, a DeFi entrepreneur and CEO of KeyFi, Inc., is suing Celsius, a crypto lending platform, for allegedly failing to
