Mashinsky Takes Over Celsius Trade Amid Bankruptcy

Mashinsky personally directed individual trades. Celsius was given the bargain to get out of the lost trade. For nearly a month, the cryptocurrency market continued to move sideways. Before a forthcoming US Federal Reserve meeting in January, Celsius Network CEO Alex Mashinsky assembled his investment team and informed them that he would be taking over the crypto lender’s trading strategy. The former telecoms entrepreneur claimed that because prices of well-known cryptocurrencies like bitcoin and ether had dropped from all-time highs, Celsius needed to take precautions against additional drops. He was confident that a hawkish decision would cause a drop in

Is Celsius Cryptocurrency Network Beyond Repair?

Sam Bankman-Fried offers buyout deals for both BlockFi and Voyager. Celsius Network, who were hit the hardest, wasn’t offered such deals. The joint proposal offered to Voyager was declined on the grounds that it was “highly misleading” and could possibly “harm customers.” The name of Sam Bankman-Fried, the CEO and founder of crypto exchange FTX, is breaking the silence of social media as the CEO had been the center of acquisition talks amid crypto meltdown.  Recently, crypto lending firms that offer an interest rate as high as 18% or more have suffered as crypto markets were down nearly 70% from

Celsius Network Plans to Address Crypto Deficit by Mining Bitcoin

Celsius Network filed a Chapter 11 reorganization bankruptcy on Wednesday. As per the document, the firm’s liabilities was around $5.5 billion. The crypto lending firm plans to address the deficit by continuously mining Bitcoin. A former banker turned full-time crypto analyst whose social media accounts are named ‘CryptoWorldJosh’ unveiled via tweet the balance sheet of crypto lending company Celsius. As per the YouTube account of CryptoWorldJosh, his main focus is about Bitcoin news, Ethereum news, and the prices of these top cryptocurrencies. His social media accounts share information about cryptocurrencies and also makes both fundamental and technical cryptocurrency analysis in

Celsius Network Files Chapter 11 Bankruptcy Amid Market Fall

Celsius Network filed voluntary petitions for Chapter 11 protection. The decision was followed by the company’s decision last month to halt withdrawals, swaps, and transfers on its platform. The lending firm plans to provide a plan to restore activities via its platform, while restructuring its obligations. Celsius Network, a Cryptocurrency lending company, confirmed that they’ve filed voluntary petitions for Chapter 11 bankruptcy in the US Bankruptcy Court of Southern District of New York amid Multistate investigations and legal charges. The US bankruptcy code 11 or Chapter 11 is a bankruptcy filed by corporations that allows companies to operate while restructuring

BlockFi CEO Irked by Celsius, Voyager Comparison

Zac Prince told people not to compare BlockFi with Celsius and Voyager. FTX has acquired BlockFi for $25 million. Celsius has hired new lawyers to explore its Chapter 11 bankruptcy options, while Voyager explained where customers’ money is held. BlockFi CEO Zac Prince took his displeasure to Twitter at being placed in the same league with embattled Celsius Network and Voyager Digital. As stated in the tweet, people should not put “BlockFi in the same bucket/sentence as Voyager and Celsius.” However, he admitted that two months ago, their situation were similar. In detail, BlockFi has been struggling in many areas

Celsius Faces Legal Charges From State Regulators and SEC

Crypto lending firm Celsius halted withdrawals from its platform. The firm’s action provoked an investigation from security regulators and the SEC. Legal charges from individuals like Ben Armstrong were also added from the firm’s plate. Celsius was in deeper trouble after State securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are set to investigate the crypto lending firm as per Reuters. The investigation was in response to the crypto lending firm’s decision to halt customer’s withdrawals, transfers, and swaps earlier this week.  The Texas State Securities Board Enforcement Director Joseph Rotunda told Reuters on Thursday that the officials

What happened With Celsius (CEL), and How its Crypto Lending Burned Out

Crypto lending firm Celsius opened a bundle of loans. The firm bought more than $500M worth of stETH but its value dropped due to extreme market conditions. The situation has caused the firm to halt withdrawals. Earlier this week, the crypto market was in turmoil after Celsius’ amassed $20 billion in assets at its peak had been dissolved, which led into a solvency crisis. Technically, Celsius is a do-it-all app that provides its customers seamless and trusted access to crypto services. The company is a custodial asset manager that allows users to access regulated loans and yield, for a transaction