Thu, November 21

Celsius Token Surges 300% in a Month After $2.5B Repayment to Creditors

The native token of the Celsius Network had a price spike of more than 300 percent in the month after the debut of its $2.5 billion repayment plan for over 250,000 debtors. The insolvent digital asset lender paid back around $2.53 billion to 251,000 creditors, according to a court document

September 24, 2024 1 min read

Celsius Distributes Over $2.5 Billion to Creditors Amid Bankruptcy

Celsius Network’s bankruptcy proceedings have concluded. Celsius’ bankruptcy administrator distributed over $2.53 billion to approximately 251,000 creditors. This distribution, representing roughly 93% of the total eligible value, was completed in both liquid cryptocurrency and cash, using valuation prices from January 16. However, despite the substantial progress, not all creditors have

August 27, 2024 2 mins read

Celsius Network Plans to Repay Creditors via PayPal’s Hyperwallet

Insolvent Crypto lender Celsius Network has filed a notice to the court about its intentions to distribute funds to creditors. In a filing submitted to the US Bankruptcy Court for the Southern District of New York, the attorneys for the business outline their strategy to repay creditors via the use

August 20, 2024 1 min read

Celsius Network Files Lawsuit Against Tether Over $2B Worth Bitcoin Claims

In response to Celsius Network’s Bitcoin (BTC) fraud accusation, stablecoin issuer Tether has declined to assume responsibility. The chief executive officer of the company, Paolo Ardoino, provided a clear account of what happened between them. Celsius Network has sued the USDT issuer and its related organizations, claiming that they were

August 10, 2024 2 mins read

Celsius and KeyFi Settle Lawsuit with Asset Transfer and NFT Sales Agreed

Last week, an agreement was filed in court by the two parties involved in the KeyFi and the founder Jason Stone’s link to the insolvent crypto lender Celsius. This settlement follows a series of lawsuits and countersuits. As part of the settlement deal, Celsius will get a plethora of assets

July 15, 2024 2 mins read

Defunct Crypto Lender Celsius Distributes $2B in Crypto to Creditors

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

February 17, 2024 1 min read

Celsius Emerges Back Stronger With $3B Worth Crypto Distribution

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

February 1, 2024 2 mins read

Bankrupt Celsius Network’s Repayment Plan Approved by Judge

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

November 10, 2023 1 min 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