Tag: celsius network

Sep 27 2022

Celsius Network CEO Resigns Following Bankruptcy Filing

Celsius Network has seen months of turmoil as the company halted operations, was hit with lawsuits and filed for bankruptcy in the United States. Now, its CEO and founder Alex Mashinsky submitted his letter of resignation, according to a press release. The resignation will be enforced “effective immediately”,...

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 30 2022

Singapore court places Hodlnaut under judicial management

Aug 30 2022 Published at CryptoSlate under tags  bankruptcy celsius network hodlnaut

Embattled crypto lender Hodlnaut has been placed under interim judicial management (IJM), according to an August 29 announcement. According to the announcement, the court-appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors Pte. Ltd., as interim managers for the Singapore-based company. Aaron and Angela combined have over 50 years of experience...

Aug 24 2022

Celsius Drags Custody Provider To Court Over $17 Million In Crypto

Celsius has been one of the most prominent crypto companies to crash in the recent bear market. The crypto lender had been caught in the crossfire of the LUNA crash and was eventually unable to pay users their deposited funds after making some bad bets. Now, as the company continues to go through the motions of liquidation proceedings, it has dragged a crypto...

Aug 23 2022

Why Celsius Filed A Counter Lawsuit Against KeyFi For “Stealing Millions”

Aug 23 2022 Published at Bitcoinist.com under tags  bitcoin btc btcusdt cel celsius network

According to a document filed with the Southern District of New York, crypto lending firm Celsius Network and Celsius KeyFi introduced a lawsuit against trading firm KeyFi and Jason Stone. The crypto lending firm claims Stone and his company were “incompetent” and “deceitful” during their partnership. In the complaint, Celsius Network asked for the return of alleged stolen property and for the payment...

Aug 22 2022

Celsius CFO Refutes Claims That It Will Not Be Able To Fund Operations For 2022

Celsius Network continues to battle with bankruptcy, and as the proceedings have moved forward, there have been some interesting findings in the court filings. The latest of these has been that the company is struggling to fund its day-to-day activities. After withdrawing its motion to hire back its ex- CFO Rod Bolger at $92,000 a month, current CFO Chris Ferraro has come forward to...

Aug 17 2022

Celsius Network Investment Results In $150M Loss For Canadian Fund Giant

Aug 17 2022 Published at Bitcoinist.com under tags  cel celsius network celusdt crypto news

Celsius Network, the crypto lending firm founded by Alex Mashinsky, reported almost $2 billion in losses to New York courts. The company filed for bankruptcy protection in the United States after halting its operations and defaulting on a number of debt commitments to its clients and investors. Canadian fund manager giant Caisse de Caisse de dépôt et placement du Québec (CDPQ) has been...

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 13 2022

Celsius Users Fight It Out With Crowdfunding For This Battle

Aug 13 2022 Published at Coingape under tags  celsius network news reddit

After Celsius filed for bankruptcy last month, the crypto community was in...

Aug 10 2022

Breaking: Ripple Labs Likely To Buy Celsius Assets?

Aug 10 2022 Published at Coingape under tags  celsius network news ripple (xrp)

Ripple Labs, the company behind cryptocurrency XRP, is a potential buyer of Celsius network's assets. According to a Reuters report, the blockchain payments company is interested in Celsius' assets but there...

Celsius’ CEO Mashinsky Dumps His $CEL Token After Short Squeeze

A $CEL address attributed to the CEO of Celsius Alex Mashinsky, by crypto intelligence firms Nansen and Arkham Intelligence, sold some of its...

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 28 2022

In Defense Of Bitcoin Full Reserve: Not Anti-Credit, But Anti-Fiduciary Media

As we continue to debate the proper roles of crypto and lending, bitcoin full reserve can be the future for credit and commerce.​​This is an opinion editorial by Stephan Livera, host of the “Stephan Livera Podcast” and managing director of Swan Bitcoin International.The debate rages on about what the proper roles of bitcoin, “crypto” and lending should be. What kind...

Jul 21 2022

Former Celsius Executive Said CLE Price Was Manipulated

A former Celsius executive revealed that the company may have manipulated CLE token price. Timothy Cradle started working at Celsius for 2 years as a anti money laundering (AML) analyst.Cradle was then promoted to Head of Monitoring and then Director of Financial Crimes Compliance for 3 months.Going back to 2019, Cradle said he heard senior executives discussing CEL at a Christmas...

Jul 20 2022

Coinbase Distances Itself from Three Arrows Capital, Celsius, and Voyager, Says it Has no Exposure

Summary: Coinbase has stated that it has no financial exposure to Three Arrows Capital, Celsius Network, Voyager Digital, or any crypto company that has collapsed in the last few months. Coinbase points out that these crypto firms' issues were 'foreseeable' as they were overleveraged. The crypto exchange has pointed out that it 'stress tests its exposures' through Monte Carlo Simulations. The San-Francisco-based crypto...

Jul 19 2022

Celsius Network Lawyers Argue That Users Have No Right To Their Crypto

Since Celsius Network limited withdrawals, swaps, and transfers last month, it has been a rollercoaster for users trying to get their funds off the platform. It all came to a head last week when the lending protocol had finally filed for Chapter 11 bankruptcy, following in the footsteps of Voyager. This had given users some semblance of hope that they may get their...

Jul 18 2022

Breaking: Celsius Discloses Restructuring Plan, Options To Recover Funds

Jul 18 2022 Published at Coingape under tags  celsius network defi news news short squeeze

Crypto lender Celsius Network filed for bankruptcy on July 13, exactly a month after stopping withdrawals and transfers from accounts. As part of the bankruptcy court hearing, Celsius today disclosed its financial overview and restructuring plan to Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York. Restructuring plans reveals...

Jul 17 2022

[Updated] Celsius Network CEO Alex Mashinsky Is Moving from VoIP to MoIP

Alex Mashinsky, Celsius Network CEO Alex Mashinsky has most likely affected...

Jul 16 2022

[Updated] What is Celsius Network | Cryptocurrency Interest Accounts and Lending Review

Celsius Network is a cryptocurrency lending platform and interest account; these sorts of companies offer depositors interest on their digital assets, and also offer lending programs. Crypto interest accounts gained popularity by offering...

Jul 15 2022

Celsius Bankruptcy Shows Reckless Behavior With A $1.2 Billion Hole In Its Balance Sheet

Celsius files for Chapter 11 bankruptcy. The company’s balance sheet shows a gap of $1.2 billion and reckless behavior with customer deposits....

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