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
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
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
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
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
After his arrest on Thursday on allegations of fraud, a U.S. District Judge set bail for Alex Mashinsky, founder and former CEO of insolvent crypto lender Celsius, at $40 million. Court records show that Mashinsky entered a not-guilty plea to seven charges. Including deceiving investors and manipulating the price of
According to a court filing made on Thursday, the U.S. SEC is suing defunct cryptocurrency lender Celsius Network and its founder and former CEO Alex Mashinsky. According to Bloomberg, citing a source familiar with the matter, Alex Mashinsky was detained on Thursday morning as a result of the ongoing investigation
A $2 billion lawsuit has been brought against FTX’s sister firm Alameda Research by Celsius Network on claims of suspicious trading activity that may have affected the price of the Celsius CEL token in 2022. Regulatory agencies such as the U.S. CFTC, the U.S. SEC, and federal prosecutors in Manhattan
Bankrupt crypto lender Celsius and its former CEO Alex Mashinsky allegedly infringed many United States rules before the company’s collapse in 2022, as found by investigators from the Commodity Futures Trading Commission (CFTC). Attorneys from the CFTC’s enforcement section reportedly determined that Celsius deceived investors, failed to register with the
The bankruptcy court has approved Celsius Network’s plan to convert all assets held in cryptocurrencies into Bitcoin and Ethereum. Judge Martin Glenn of the Southern District of New York has rendered a fresh judgment in the platform’s bankruptcy proceedings. And the liquidations will soon allow for the release of payment
