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
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
On May 25th, insolvent cryptocurrency lender Celsius Network announced that the auction to sell its assets to cryptocurrency consortium Fahrenheit LLC had concluded. After consulting with its official committee of unsecured creditors. Celsius Network ultimately decided to go with Fahrenheit as the high bidder in the court-supervised auction. The Fahrenheit
Celsius Network, a cryptocurrency lending platform, has announced that certain customers will soon be able to recover their whole initial investments. Even though it has been almost a year since the company temporarily halted withdrawals. Users of Celsius who have only ever had their funds in custodial accounts were previously
In July 2022, Celsius, a company with over $4 billion in consumer debt, filed for Chapter 11 bankruptcy. The business has also been under investigation for numerous months. The collapse of the 2022 cryptocurrency market primarily affected lending companies for cryptocurrencies, with Celsius Network, Voyager, and Three Arrows Capital being
A court document suggests that defunct cryptocurrency lender Celsius Network sought to sue crypto blogger and Celsius creditor Tiffany Fong for disclosing confidential business information. According to a snapshot posted by Fong, she has around $119,000 worth of crypto assets locked on Celsius after the company halted withdrawals in the
Despite the fact that the refund may not be fast in all situations, the courts have declared that Celsius consumers are entitled to up to 72.5% of their deposited crypto back according to a historic ruling by Justice Martin Glenn. Customers with Custodial accounts would be the only ones eligible
Despite receiving an offer from asset management NovaWulf Digital Management, insolvent crypto lender Celsius Network said on Wednesday that it was in talks with another possible buyer and would continue to seek more offers. During a hearing in Manhattan’s bankruptcy court, attorney Chris Koenig stated that Celsius is open to
Due to the FTX breakout, the crypto lending platform BlockFi filed for chapter 11 bankruptcy protection on November 28, 2022. On Monday, the company got approval from the United States Bankruptcy Court for the District of New Jersey to hold an auction for its crypto-mining assets. The company wants to
Celsius said in court on Tuesday that it is considering issuing a new digital asset token as part of its strategy to restructure and emerge from bankruptcy as a future regulated cryptocurrency platform. At a video hearing, Celsius’s attorney Ross M. Kwasteniet argued that creditors would be better served by
