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The mining firm has cited the low price of Bitcoin, electricity costs, an increase in the BTC hash rate, and litigation with Celsius playing a role in its financial difficulties. Go to Source Powered by WPeMatico
One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov. … Read more
A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29. Creditors Object … Read more
A website revealing personal information from Celsius creditors has created stress and chaos for many, leading some to question the privacy of centralized exchanges. Go to Source Powered by WPeMatico
Core Scientific claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay. Go to Source Powered by WPeMatico
German crypto bank Nuri joins a growing list of crypto service providers to shutter their doors permanently amid the bear market. Go to Source Powered by WPeMatico
CEO Stephen Ehrlich and financial head Evan Psaropolous will keep their jobs even though they okayed a huge loan to Three Arrows Capital without sufficient due diligence. Go to Source Powered by WPeMatico
Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans … Read more
Advisory firm Teneo argued that standard methods to contact the Three Arrows Capital founders have failed, and is now looking for other ways to subpoena them. Go to Source Powered by WPeMatico
Judge Martin Glenn says U.K. legal principles may be “persuasive” in the absence of U.S. legal precedents in the complex case of the crypto lending platform’s bankruptcy. Go to Source Powered by WPeMatico