Celsius Network

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 Creditors Blame Wintermute for Assisting Wash Trading

The bankrupt cryptocurrency lending platform has leveled allegations against Wintermute, a prominent crypto market maker. Claiming that they actively participated in price manipulation of CEL tokens by facilitating “wash trading” in collaboration with Celsius executives. The latest development in the legal proceedings showcases, Celsius creditors amending their lawsuit in the

June 24, 2023 1 min read

Celsius Network Picks NovaWulf Offer to Escape From Bankruptcy

Crypto lender Celsius Network has been seeking all options to increase the value of its assets and restructure its business since filing for Chapter 11 Bankruptcy on July 2023. Today the cryptocurrency lender announced that it agreed to partner with asset management NovaWulf Digital Management to recover from bankruptcy. Celsius

February 16, 2023 2 mins read

Celsius Customers to Get Back 72.5% of Their Desposited Crypto

Crypto Lender Celsius Revealed Eligible Users List to Withdraw Assets

The bankruptcy cryptocurrency lender Celsius Network announced that some customers of the custody program from the insolvent crypto lender would be able to withdraw 94% of their eligible assets. Since June 2022, when the Celsius Network halted withdrawals, the crypto lending company created a withdrawal procedure for users who holds

February 1, 2023 1 min read

Fahrenheit Wins Auction To Acquire Insolvent Celsius Network Assets

Celsius Network Acquires Ownership of Customer Cryptocurrency Deposits

A U.S. bankruptcy judge determined on Wednesday that Celsius Network controls the majority of the cryptocurrency that users deposited onto its online platform. This implies that most Celsius users will be last in line for repayment in the crypto lender’s bankruptcy. According to a 45-page petition from the U.S. Bankruptcy

January 5, 2023 2 mins read

Celsius Network Receives Several Possible Bidders for Its Assets

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,

December 21, 2022 1 min read

Defunct Celsius Network Plans to Sue Creditor Over Leaking Confidential Info

Celsius Network Secured Court Approval to Remunerate its Employees

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

December 6, 2022 1 min read

Insolvent Crypto Lender ‘Celsius’ Granted Extension by Court

The Court Filing Discloses Million Withdrawals of Celsius Customers & Execs

The Celsius bankruptcy filing in the U.S Court remains a controversial issue in the industry. Over 4 months the issue is still proceeding in the Court finding many other related documents to the case. Now the Court reveals the transactional data with millions of transactions on the Celsius platform. This

October 7, 2022 2 mins read

Celsius Founder Attempts to Escape the Country?

Mashinsky’s promises that the money was secure. Celsius had recruited experts from Alvarez & Marsal to get guidance on bankruptcy. A recent update from the Celsius officials, Founder and CEO of Celsius Network Alex Mashinsky hasn’t tried any plans to escape from the country, the fall accusations arose him. According

June 27, 2022 2 mins read

Goldman Sachs Advise to Celsius to File Bankruptcy

Goldman Sachs Advice Celsius to File Bankruptcy

Celsius had more than $8 billion lent to clients and $12 billion in assets. All of Celsius’ assets might be bought by Goldman Sachs. The Wall Street firm Goldman Sachs is looking for $2 billion in commitments from investors to purchase distressed assets at significant discounts. According to the source,

June 25, 2022 1 min read