One more catastrophe occurred in the highly volatile cryptocurrency market. In a dramatic turn of events, crypto trading platform Abra and its CEO, William (Bill) Barhydt, are facing allegations of securities fraud as the Texas State Securities Board filed an emergency cease and desist order against the company. The regulator
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
Following Nexo’s settlement with US Securities and Exchange Commission (SEC), and the North American Securities Administrators Association (NASAA), the lending company planned to stop its Earn Interest Product for its U.S customers. The leading lending company Nexo announced in its February 10th blog post that it decided to ban its
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
BlockFi, a cryptocurrency lender, has revealed its revenue figures. The filing describes the consequences of an FTX loan in June on 13 BlockFi executives. BlockFi’s equity interests were wiped out by a total of $800 million as a result of the loan. A statement of financial affairs released by the
A Singapore-based crypto lender Vauld announced on December 26 that the July acquisition agreement between Vauld and its rival Nexo had “not come to fruition.” In response, Nexo stated today that discussions were ongoing and that it was still hoping to close the deal. However, Vauld has until January 20
The company has received inquiries from the SEC, CFTC and FTC. A federal grand jury subpoena was issued to the firm. US federal investigations are being conducted into the bankrupt cryptocurrency lender Celsius Network as per the Bloomberg report. According to a document submitted by attorneys for Celsius’ committee of
