Celsius repays two-thirds of its creditors
Celsius has repaid $2.53B to 251,000 creditors, covering 84% of the debt. 121,000 creditors still haven’t claimed their funds, many due small amounts. Former CEO Alex Mashinsky faces fraud charges,…
Celsius initiates recovery of large pre-bankruptcy withdrawals
Celsius Creditors withdrawing $100k+ pre-bankruptcy face legal action and must comply for future distributions. Celsius’ post-bankruptcy Bitcoin mining focus approved; Ethereum unstaked for timely creditor repayments. Legal challenges persist; CEO…
Celsius set to unlock $470M Ethereum for creditor repayments
Celsius, in bankruptcy since 2022, begins unstaking 206,300 ETH ($468.5M) for creditor distributions. Market speculates on a potential ETH “dump,” while some see Celsius’s move as relieving pressure on Ethereum.…
Celsius Network granted approval to pivot to Bitcoin mining
The US Bankruptcy Court for the Southern District of New York approved Celsius Network’s restructuring plans for bitcoin mining on Wednesday. Celsius filed for Chapter 11 bankruptcy protection in July…
Embattled crypto lender Celsius wants to start repaying customers by year-end
Key takeaways Celsius is seeking court approval to start repaying customers in the coming weeks. The company will repay its creditors using Bitcoin and Ethereum and stock in the new…
Celsius (CEL) price remains strong even as ex-CEO assets get frozen
At the time of writing, Celsius was trading at $0.1439, up 13.87% in a day. The former Celsius CEO, Alex Mashinsk, was arrested on July 13 this year. Alex Mashinsk…
US Bitcoin Corp announces a deal with Celsius Network
USBTC to host 8,500 miners belonging to Celsius at its Alpha Site. Hashrate of these machines is estimated to be 820 petahash (PH). Us Bitcoin Corp expects to be managing…
Celsius reaches key settlements in bankruptcy proceedings
Celsius could return customer assets by the end of the year after parties resollved two key bankruptcy issues. CEL price rose more than 12% to $0.18 before paring gains. The…
MATIC, LINK, AAVE among $59M worth of altcoins moved by Celsius
Celsius has moved over $59 million of altcoins to FalconX ahead of possible liquidation. The crypto lender plans to convert the tokens to BTC or ETH. Celsius’s largest altcoin holding…
US Federal Trade Commission slaps Celsius Network with $4.7B fine
The FTC said Celsius “squandered billions in user deposits” after “duping” customers into depositing funds. Celsius and its former CEO have also been sued by the US SEC today. Last…