Tens of Celsius clients ask US court to recover $22.5M in crypto
Suspension of withdrawals on Celsius custody contradicts the plain language of the firm’s terms of use, a group of disgruntled creditors argued. Go to Source Powered by WPeMatico
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Amid crypto winter, Nexo commits additional $50M to buyback program
The Bitcoin lender has sought advice from Citigroup on how to acquire distressed crypto firms amid the bear market. Go to Source Powered by WPeMatico
Hodlnaut now placed under creditor protection after freezing withdrawals
Hodlnaut froze withdrawals and all other services on its platform on Aug. 8, citing a liquidity crisis and turbulent market conditions. Go to Source Powered by WPeMatico
Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days
An ongoing debt crisis at lending platform BendDAO is also increasing the risks of the NFT bubble going bust. Go to Source Powered by WPeMatico
Hacker tries to exploit bridge protocol, fails miserably: Finance Redefined
Majority of the DeFi tokens in the top-100 had a mixed week as several tokens traded in red while a few others managed to make double-digit gains. Go to Source Powered by WPeMatico
Celsius bankruptcy proceedings show complexities amid declining hope of recovery
Celsius Network’s bankruptcy proceedings have highlighted that the firm has misrepresented many of its assets with deep complexities in its operations. Go to Source Powered by WPeMatico
Amendments to US commercial code differentiate crypto and ‘electronic money’
The updated guidelines seek to clarify the terms of crypto assets lending and specify the status of CBDCs. 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
3 reasons why Bitcoin’s drop to $21K and the market-wide sell-off could be worse than you think
There are signs of further turbulence ahead. The absence of a BTC futures premium, $470 million in liquidations and excessive stablecoin lending all point toward new yearly lows. Go to Source Powered by WPeMatico
