Celsius files to reopen withdrawals for a minority of customers
Celsius has motioned for $50 million worth of the total $225 million held in the Custody Program and Withhold Accounts to be released to owners. Go to Source Powered by WPeMatico
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Celsius Countersues Keyfi Founder, Company Claims Millions Were Stolen From Crypto Lender’s Wallets
Roughly seven weeks after Keyfi founder Jason Stone filed a lawsuit against the crypto lender Celsius, the company has filed a countersuit against Stone claiming that he stole millions from Celsius wallets and allegedly “pocketed seven-figure returns.” Stone’s attorney Kyle Roche says the lawsuit is an attempt to “rewrite history,” and to use Stone as … Read more
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, 3AC demonstrated why financial infrastructure should move on-chain
Instead of operating in darkness, more players in the financial industry should move their transactions to the blockchain, where every move is public. Go to Source Powered by WPeMatico
Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows
The total crypto market capitalization dropped to the $1 trillion support, and weak stablecoin demand and a largely absent funding rate reflect traders’ negative sentiment. Go to Source Powered by WPeMatico
Hodlnaut Court Filings Highlight a $193 Million Shortfall, Whistleblower Condemns Crypto Lender’s Contradictory Statements
The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the startup. The latest update shows that Hodlnaut experienced a shortfall of around $193 million and this past week the company has laid off roughly 80% … Read more
Quebec Pension Fund loses almost entirety of its Celsius investment in less than ten months
“For us, it is clear, when we look at all this, we arrived too soon in a sector which was in transition,” says CEO Charles Émond. Go to Source Powered by WPeMatico
Bitcoin Price Trades Sideways at the $24K Level, Miners Face Substantial Losses
Bitcoin price continues to trade sideways this week, with little change in trading volume over the past 24 hours. After peaking at $25k on Sunday, BTCUSD struggles to hold support and continues to decline, currently trading in the high $23k range. The 24-hour trading volume remains relatively unchanged in the $29.5 billion range. Key Points: … 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