News with the tag "Celsius bankruptcy"

Alexander Mashinsky , the former CEO of the now-bankrupt cryptocurrency lender Celsius, has pleaded guilty to two counts of fraud, facing a potential maximum sentence of 30 years in prison. This development comes in the wake of multiple charges filed by the US Department of Justice (DOJ), which orig...

Once a prominent player in the cryptocurrency lending space, Celsius Network has commenced its second round of distributions to creditors, amounting to $127 million. This follows the company’s prior efforts to distribute approximately $3 billion in crypto and fiat currency, initiated after a success...

Celsius token skyrockets 300% a month after paying $2.5 billion to creditors, marking a strong rebound in the aftermath of its bankruptcy settlement.

Bitcoin mining firm Ionic Digital Inc., co-owned by former Celsius Network customers, is under scrutiny as some creditors contemplate liquidation due to concerns over management and financial challenges. Initially intended to compensate former Celsius users, Ionic has faced setbacks in its plans to ...

Crypto firm Celsius has distributed over $2.5 billion to creditors in its ongoing bankruptcy process. On-chain data shows the firm now holds $5 million amid the recent distributions. The company’s bankruptcy distribution plan which dragged on for months is now underway, per new filing. Celsius On-ch...

Over 121,000 Celsius creditors have yet to claim their funds, according to the Celsius bankruptcy administrator.

A wave of controversy has erupted in the crypto community as Celsius Network faces backlash for suing users who withdrew funds prior to the company’s bankruptcy. David Schwartz, the Chief Technology Officer of Ripple, has weighed in on the matter. Moreover, he offered insights into why Celsius might...

According to a Bloomberg report, Celsius Network, the crypto platform that filed for bankruptcy in July 2022, demands that major customers who collectively withdrew over $2 billion before the bankruptcy return those funds to avoid potential litigation. An oversight committee formed during Celsius’s ...

The bankrupt cryptocurrency lending firm Celsius has initiated efforts to recover approximately $2 billion. A significant portion of the total amount put to fundraise, that is, $1.2 billion, was withdrawn by the big customers from the company before it was declared bankrupt on July 22, 2022. Bloombe...

Despite growing concerns of conflict of interests, Sam Bankman-Fried, the ex-CEO of FTX, has decided to move on with another set of attorneys for his upcoming appeal. This transition follows his November conviction on numerous fraud counts, representing a notable shift in his legal strategy. Legal S...