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The data of thousands of Celsius customers revealed in court also included its executives showing millions withdrawn from the platform in the weeks before it was suspended to the public. Go to Source Powered by WPeMatico
Co-founder Kalin Metodiev stated that comparisons between Celsius, Voyager and Nexo are “very far from reality” and that the firm is focused on building in a sustainable way. Go to Source Powered by WPeMatico
According to a filing published by the U.S. Bankruptcy Court for the Southern District of New York, the crypto lending firm Celsius has been given a final bid deadline of October 17, 2022. Following the bankruptcy court’s final bid deadline, a sale hearing is scheduled for November 1. A report published last week noted that … Read more
The FTX founder said the company paid the “fair market price” for Voyager’s assets and would look to do the same in a deal for Celsius’ assets. Go to Source Powered by WPeMatico
The objection is seeking a deferral on Celsius motions until the independent examiner report on the company is filed over the next couple of months. Go to Source Powered by WPeMatico
As Celsius’ bankruptcy proceedings continue, the court’s trustee William Harrington appointed an examiner on Thursday in order to review the company’s finances, according to a filing submitted on September 29. On the same day, state securities officials from Vermont and Texas filed objections to the crypto lender accessing the company’s stablecoin cache. 15 days prior … Read more
A key concern is that the firm hasn’t explicitly outlined what it will do with the stablecoin sale proceeds. Go to Source Powered by WPeMatico
On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, … Read more
“I am very sorry about the difficult financial circumstances members of our community are facing,” writes Mashinsky. Go to Source Powered by WPeMatico
Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product … Read more
