With multiple financing offers reportedly coming for Celsius Network, it announced it would meet with the Unsecured Creditors Committee (UCC) on August 23 to consider possible options to accelerate the recovery of the customer's funds. During the second hearing held on August 16,...
Crypto lender Hodlnaut has announced that it is seeking judicial management in Singapore following its decision to suspend withdrawals. Hodlnaut Requests Judicial Management Hodlnaut has announced its latest steps toward...
Alex Mashinsky allegedly took control of trading decisions at Celsius, which resulted in a $50 million loss in January, the Financial Times reported. Following the U.S. Federal Reserve's January 2022 meeting, Celsius CEO Alex Mashinsky allegedly stepped in to lead the firm's trading strategy. In anticipation of a hawkish outcome and his conviction that crypto prices would...
Embattled crypto lender Celsius, which filed for Chapter 11 bankruptcy in July, filed new documents in court on Aug. 14, detailing its budget for August through October. According to court documents, Celsius expects its net cash flow to turn negative to the tune...
Siacoin's (SC) parent company, Skynet Labs, has announced that it will shut down operations after failing to raise sufficient funds in its latest funding round. However, this decision will not affect the Skynet platform, which will continue to operate, and all users' files will remain on the platform....
Zipmex, the lender that had halted customer withdrawals on July 20, is allowing customers to access and withdraw up to 0.08 Ethereum (ETH) tokens, worth around $153 at the time of writing, starting Aug. 11 The firm will transfer...
The recent crypto winter plunged some crypto firms into insolvency. Also, the collapse of Terra algorithmic stablecoin and its native token, LUNA, aided the devastating effect of the bearish trend. As a result, almost all the assets in the crypto space experienced a massive decline in their prices and values. The overall events brought billions of dollars on the part of investors. Though...
Ripple Labs is considering a potential purchase of assets from Celsius amidst the latter company's bankruptcy process. Ripple Considers Celsius Buyout Ripple could purchase Celsius' assets. A Ripple spokesperson told...
Ripple Labs could be interested in buying the assets of embattled crypto lender Celsius Network, Reuters reported Aug. 10. A Ripple spokesperson reportedly said the firm was interested in looking for M&A opportunities to scale its business. However, the San Fransico-based company refused to confirm if it would purchase...
Unfavorable market conditions have forced German-based crypto bank Nuri to file for insolvency. Nuri announced on August 9 that it has become insolvent due to financial struggles due to the crypto winter and its exposure to the Luna and Celsius collapse. The filing became necessary to enable the digital bank safely return the customer's funds while it works on a viable restructuring...
The Committee representing customers affected by Celsius' bankruptcy has issued a mission statement as it seeks further investigation into CEO Alex Mashinsky for allegedly misleading the public. Unsecured creditors of Celsius on July 27, formed...
Hodlnaut has said it is working on a recovery plan without disclosing any additional information concerning the current status of users' funds. Hodlnaut Suspends Services Singapore-based crypto lending platform Hodlnaut...
Celsius has withdrawn its motion to rehire former CFO Rod Bolger as a consultant, according to an August 5 court filing. Reports had emerged that the firm wanted to rehire Bolger for at least six weeks in an advisory capacity. However, the motion was opposed by Keith Suckno,...
Voyager has gained court approval to begin providing customers with access to withdrawals. Voyager to Reopen Withdrawals Voyager Digital is planning to let customers withdraw their funds. The company initially...
Embattled crypto lender Voyager Digital has revealed that its users could have access to their funds from Aug. 11. According to the announcement, the Court's Aug. 4 ruling has approved its request to restore access to cash held for the...
Struggling crypto lender Voyager Digital has been allowed to return its customer's $270 million deposited with Metropolitan Commercial Bank, The Wall Street Journal reported on August 4. According to the report, Judge Michael Wiles ruled that Voyager had presented a "sufficient basis" to allow its customers access to their funds at the...
Virginia's Fairfax County Retirement Systems is set to invest its $6.8 billion pension fund in cryptocurrency yield farming to boost returns, the Financial Times reported on Aug 4. The retirement systems fund recently gained approval from its board of trustees for the move, according to the news outlet. Katherine Molnar, chief investment officer of the Fairfax County...
Embattled crypto lender Celsius Network wants to rehire its ex-Chief Financial Officer Rod Bolger, according to a court filing made by the firm on July 25. According to the filing, Celsius wants to hire Bolger for at least six weeks in an advisory capacity because of his familiarity with the firm's business, pending court approval....
Voyager's CEO Stephen Ehrlich made over $30 million when he sold the company shares when it was trading at its peak in 2021, CNBC reported Aug. 3. According to CNBC's report, Ehrlich sold 1.9 million shares between Feb. 9, 2021, and March 31, 2021, in eleven...
Celsius is facing legal action from a group of custody clients seeking a refund of their collective $180 million deposit. The growing group of 400 customers owns about 4% of the total assets locked in the Celsius network — equating to $180 million. To proceed with their legal action, the group has engaged the services of Kyle J. Ortiz, a partner at the...
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