Tag: celsius bankruptcy

Sep 23 2022

Just In: Celsius Shareholders Call For Equal Representation

Sep 23 2022 Published at Coingape under tags  celsius celsius bankruptcy news

Celsius, a bankruptcy ridden digital asset lending company is dealing with legal trouble amid the crypto downturn. However, its shareholders have now filed a motion to set up a committee in order to get the required representation. Is Celsius in another trouble? As per the filings, Shareholders urgently require their... Read more

Sep 01 2022

Celsius Wants To Reopen Withdrawals For Some Customers, Here’s Why

Celsius has been in the thick of bankruptcy proceedings for about two months now. There have been various revelations about the company’s financials and how it viewed various subsets of its customers. These views are made even more obvious in a filing that was published on Thursday stating that the crypto lender wants to reopen withdrawals for Custody and Withhold Account holders. Only...

Aug 17 2022

Severe Allegations On Celsius CEO As The Company Considers Financing Proposal

Alex Mashinsky, the CEO of troubled crypto lender Celsius Networks has been once again on the radar! As per the latest report from Financial Times, Mashinsky took over the control of the trading strategy several months...

Aug 08 2022

Celsius Withdraws Motion To Hire Ex-CFO Following Backlash From The Community

Last week, news of Celsius’ motion to hire its ex-CFO Rod Bolger on a contract basis for $92,000 a month made the rounds. Once the community caught wind of this, users began to share their opinions of the motion, and as expected, the majority was not impressed with this move. Celsius, which had already filed for bankruptcy, was already strapped for cash, so...

Jul 20 2022

By The Numbers: The $1.2 Billion Hole In Celsius’ Balance Sheet

Celsius Network had its first limited withdrawals back on June 13th, and it had taken about one month from that point for the company to finally come forward and file for bankruptcy. It put an end to the speculation in the market regarding the solvency of the company. In the end, the Chapter 11 bankruptcy confirmed information that had been circulating on the...

Jul 18 2022

Crypto Whistleblower Who Predicted Celsius Downfall Claims Its CEO Lied

Jul 18 2022 Published at Coingape under tags  celsius bankruptcy news sbf

According to a crypto investigative journalist, Otterooo, Celsius CEO Alex Mashinsky told a list of lies right before Celsius filed for a Chapter 11 bankruptcy. Citing the Celsius Bankruptcy filings, he revealed that Celsius was already insolvent late in 2021. Otterooo claimed on June 7 that Celsius would be insolvent by the end of 2022....

Jul 16 2022

Why did Celsius Crypto File for Bankruptcy? Here’s What Happened

Crypto lending platform Celsius filed for bankruptcy yesterday. The New York- based company went bankrupt under US insolvency law. The assets and liabilities of the company are said to be between 1 and 10 billion US dollars. What does bankruptcy mean for investors in the crypto market? Why did Celsius Crypto file for bankruptcy? What is Celsius Crypto? Celsius has risen to become one of the largest...

Jul 15 2022

Celsius (CEL) Token Price Soars Massively Despite Bankruptcy Filing, Here’s Why

Celsius' CEL token price is soaring despite the crypto lending firm filing for Chapter 11 bankruptcy. In the last 24 hours, the CEL token price has skyrocketed nearly 80% as a result of the community-led "CEL Short Squeeze." Celsius (CEL) Price Skyrockets Amid "CEL Short Squeeze" Celsius bankruptcy filing has revealed $1.2 billion of bad...

Here’s How Celsius Operated As a ‘Shadow Bank’, Will It Ever Return Money to Depositors?

On Wednesday, July 13, crypto lender Celsius filed for Chapter 11 bankruptcy claiming that the company will proceed with reorganization and protect its customers' interests. However, some dark details regarding Celsius operations have emerged from the documents that it submitted. As per the document, the company has around $4.3 billion in assets and liabilities worth...

Jul 14 2022

Breaking: Celsius Customers Unlikely To Recover Funds, Here’s Why

Crypto lender Celsius Network has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York, the court filing shows. However, according to the company's terms and conditions, customers or depositors may not get their money either from deposits or yields. Customers in Trouble After Celsius Files For Bankruptcy...

Crypto Collapse Pulls Celsius Network Down Into Bankruptcy

Crypto lender Celsius Network, one of the biggest in the world, has filed for Chapter 11 bankruptcy protection, joining a string of crypto asset organizations that have restructured in response to a severe sell-off in cryptocurrencies this year. The news is the latest high-profile crypto bankruptcy as crypto values collapse, making Celsius the latest victim of a $2 trillion meltdown that has crippled...

Celsius’ CEL Token Tanks 50% as Company Files for Chapter 11 Bankruptcy

After persistent efforts to repay its loans, beleaguered crypto lender Celsius Networks decided to file for Chapter 11 bankruptcy on Wednesday, July 13. Following the news, CEL, the native cryptocurrency of Celsius Networks dropped 50% from its intraday high of 95 cents all the way to 45 cents. As of press time, the CEL token...

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