Celsius Network Transfers Over 1B in ETH to Exchanges
Celsius Network makes a major move, transferring over 1B in Ethereum to top exchanges like Coinbase Prime. A strategic shift in crypto assets! #CelsiusNetwork #Ethereum #CryptoStrategy
Celsius Network
Website Showing How Much People Lost With Celsius Now Live
A website showing how much Celsius customers lost has gone live. One person lost more than $40 million. Read CNL for more.
Celsius Customer Data Leak Surfaces in New Document
Crypto firm Celsius is under fire after its leaked customer names are out to the public, alongside how much crypto each account held.
Celsius Network May Require Funds Return by Court Order
Crypto lender Celsius Networks’ customers still want their money back. Celsius maintains that only “pure” custodial account holders are eligible. A ruling on the matter has not yet been made. According to a report by Aaron Bennett, Customers of Earn and Borrow, who anticipated some type of profit or benefit, disagree with Celsius clients who feel that any custodial account holder. i.e any customer who deposited funds in a custody account but held ownership of the assets should receive their monies. The three-hour meeting on Thursday was largely devoted to discussing whether or not custodial account holders should be allowed
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
Bankrupt Celsius Gets Approval to Sell Mined Bitcoin
Celsius Network acknowledged that it ran out of money. Josh Sussberg, an attorney for Celsius, reported the receipt of cash injection offers on Tuesday. Celsius has to invest more money to get its mining operations up and running. A U.S. judge has given the go-ahead for the bankrupt cryptocurrency lender Celsius Network to sell the bitcoin (BTC) that it mines. Celsius Network revealed that it was running low on cash. Since then, the firm has received multiple bids to raise money. During a bankruptcy hearing on Tuesday, Celsius attorney Josh Sussberg reported the receipt of cash-injection bids, although he did
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 Collapse Drags Investors Down
Celsius bleeds from $25 billion to $167 million. According to the bankruptcy filings, Celsius will pay its users around $4.7 billion. The firm has a $1.2 billion deficit on its balance sheet. In this week’s reports, bankruptcy filings of Celsius have surprised no one. The digital lender has been in hot water for some time. CNBC has tweeted that the major cryptocurrency has collapsed and has dragged many investors down with it. Celsius, once a high-flying digital lender, has filed for Chapter 11 bankruptcy protection. The company had $25 billion in assets just last year, but according to the filings,
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
FTX’s Sam Bankman-Fried Linked to Celsius Bankruptcy Filing
Pharos USD Fund SP is the largest creditor of Celsius Network. An SEC filing shows that Pharos is an affiliate of Lantern Ventures. Tara Mac Aulay, CEO of Lantern, said she co-founded Alameda Research. Crypto lending company Celsius Network, who filed for Chapter 11 bankruptcy on Wednesday, has more than 100,000 creditors. Among these creditors, one named ‘Pharos USD Fund SP’ has been the highlight. According to Celsius’ Chapter 11 filing, the crypto lending firm owes $81 million to Pharos. Doubles the amount of claim the firm’s second-biggest creditor has. An SEC filing from April shows that Pharos is an
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
