Bankrupt Celsius to Release $50 Million in Custody Client’s Funds
The Motion is applicable only to Custody and Withold Accounts and for custodied assets worth $7,575 or less in value.
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Latest firstCelsius CEO Reportedly Took Reckless Decisions Leading to a Loss of $50M
Key Takeaways: Months before bankruptcy, Alex Mashinsky took over the Celsius trading system. Mashinsky frequently disagreed with Frank van Etten, the company’s former chief investment officer, regarding trading choices and his interference with the trading style. In July, Celsius filed…
From Miscalculated Deals to Negative Rumors: What caused Celsius’s downfall?
Key Takeaways: “De-pegging” of stETH forced Celsius to sell its own holdings A rumor about a potential bailout following LUNA crash led to over $1 billion being withdrawn from Celsius within five days In Tether liquidation, Celsius incurred a loss…
One More Giant Down: Celsius Network files for Chapter 11 Bankruptcy
Key Takeaways: Celsius says it has $167 million of cash available to meet urgent needs. The firm had over $8 billion lent out to clients, and $12 billion in assets under management in May. The bankruptcy filing comes after a…
Celsius faces accusations of being ‘Deeply Insolvent’ by Authorities
Key Takeaways Celsius deployed customer assets in risky activities. Multistate investigation of Celsius in USA. Celsius engaged in an unregistered securities offering. U.S. state of Vermont’s Department of Financial Regulation (DFR) claims that Celsius lacks the assets and liquidity to…
Battered Celsius Network pays off $20M in AAVE debts
Key Takeaways Celsius paid 20 million USDC for its AAVE loan. Total debt stands at $215 million. Earlier Celsius paid off over $220 million in a week. The battered crypto lender Celsius is rushing to pay off its outstanding debt…
Celsius accused of running “Ponzi Scheme” by Former Employee
Key Takeaways The complaint was filed by KeyFi Inc., a company founded by the Celsius’s former investment manager, Jason Stone. Stone accuses Celsius of running a Ponzi scheme to benefit itself through “gross mismanagement of customer deposits”. The filing states…
Celsius Network Repays Bitcoin Loan Entirely, Liquidation Price at $0
Key Takeaways Since July 1, Celsius has repaid over $150 million worth of Dai (DAI) stablecoins across 5 separate transactions. On July 7, a wallet linked to Celsius repaid the remaining $41.2 million of the loan in DAI, the Maker…
Troubled Celsius pays off $142.8 Million Bitcoin Loan since July 1
Key Takeaways Since July 1, the platform has repaid $142.8 million worth of Dai (DAI) stablecoins across four separate transactions On July 4, the lending platform paid over $114 million to clear its bitcoin loan. Crypto Lending Platform Celsius has…