CEL climbs 50% as Celsius Network aims to return $50M to clients
The CEL price rally could fizzle out due to prevailing Celsius issues, including its bankruptcy. Go to Source Powered by WPeMatico
Bankruptcy
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3AC’s Zhu was in Bangkok, disputed liquidator’s court filing in Singapore: Report
Zhu, whose whereabouts had been unknown for weeks, delivered an affidavit that disputed Teneo claims and elucidated the internal structure of the failed hedge fund. Go to Source Powered by WPeMatico
US court gives Voyager green light to pay bonuses to key employees
Voyager Digital will pay $1.9 million in retention bonuses to key staff members to ensure the beleaguered cryptocurrency lender can continue operating through bankruptcy proceedings. Go to Source Powered by WPeMatico
Singapore authorities approve probe of 3AC on behalf of liquidators: Report
Liquidator Teneo has recovered only a miniscule portion of the Singapore-based Three Arrows Capital so far, while cofounder Zhu has allegedly tried to sell property there. Go to Source Powered by WPeMatico
Celsius countersues KeyFi, claims deceit and incompetence led to tens of millions in losses
Crypto lender Celsius has gone on the offensive against former staking and DeFi strategy associate KeyFi and its CEO, which had sued it a week before it went bankrupt. Go to Source Powered by WPeMatico
Celsius calls out Prime Trust in court, alleging firm didn’t turn over $17M in crypto
“Prime Trust was obligated under the Bankruptcy Code to deliver all property belonging to Celsius […] including these remaining crypto assets,” said Celsius’ legal team. Go to Source Powered by WPeMatico
Celsius Approved to Sell Mined Bitcoin, Customer That Lost 50,000 USDC Insists Her Regulated Stablecoins Should Be Treated Differently
On August 16, the crypto lender Celsius Network has been approved by a bankruptcy court judge to sell bitcoin the company previously mined to continue funding specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much … Read more
Report: Celsius CEO Accused of Controlling Crypto Company’s Trading Scheme and Placing Bad Bets
According to a recent report published on Tuesday, the Israeli-American founder and CEO of Celsius Network, Alex Mashinsky, was in charge of the company’s trading strategy. The report, citing multiple people familiar with the matter, said Mashinsky sold millions of dollars’ worth of bitcoin in anticipation to buy bitcoin cheap. Except after the CEO allegedly … Read more
Celsius CEO personally directed crypto trades months before bankruptcy: Report
One person familiar with events at Celsius reportedly said CEO Alex Mashinsky was “slugging around huge chunks of Bitcoin” and ordering trades based on bad information. Go to Source Powered by WPeMatico
Celsius Network coin report shows a balance gap of $2.85 billion
The latest findings could brew more trouble for the crypto lender for allegedly misleading and offering wrong details in the court documents. Go to Source Powered by WPeMatico
