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Tag Archives: celsius

Attorney Denies Claim of Celsius Bidding Process Being Abandoned

Legal counsel representing Celsius’ Official Committee of Unsecured Creditors has refuted recent claims that submitted bids for the crypto lender’s assets were rejected. Last week, crypto journalist Tiffany Fong claimed she received documents detailing the bids on Celsius’ crypto assets, which “for the most part, abandoned.” According to Fong, Binance, Bank to the Future, Galaxy Digital, Cumberland DRW, and Novawulf had submitted their bidding proposals for Celsius’ assets,...

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Core Scientific Is Bankrupt but Remaining Functional

Core Scientific – one of the world’s biggest crypto mining enterprises – has filed bankruptcy in recent weeks but is still expected to continue its mining operations in the region of Grand Forks, Texas. Core Scientific Can Continue to Operate as Normal The company first began pursuing chapter 11 bankruptcy protections in the final weeks of December. Core Scientific has experienced a net loss of nearly half a billion dollars at the time of writing stemming back from...

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New York Sues Crypto Lending Network Celsius and Its Former CEO

The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds. New York Comes Down Hard on Celsius The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of...

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Crypto Miners Aren’t Giving Lenders Their Money Back

Of all the people or companies in the crypto space, lenders likely have it worse than anyone or anything. They are the ones giving money to the crypto companies that are now failing or struggling to stay afloat. In many cases, they are not able to repay the funds they’ve utilized or borrowed, which really puts a lot of these lending firms on edge. Lenders Are Enduring Trouble from Crypto Miners Instead of money, lenders are instead receiving machines from miners – who at...

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The Top Bitcoin and Crypto Stories of 2022

2022 is on the verge of disappearing forever, and Live Bitcoin News is looking back one last time on the biggest digital currency stories of the year. The Bitcoin Price The biggest story of 2022 revolved around how poorly bitcoin did. What was once one of the largest and most worthwhile assets around sank to the bottom of a deep financial pit, and the currency has refused to get up. In November of last year, for example, the world’s number one digital currency by market...

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Bankrupt Crypto Lender Celsius Seeks Deadline Extension

Cryptocurrency lender Celsius Network said it is preparing to file a motion requesting a deadline extension for users to submit their claims by another month. In its latest update, Celsius stated that the motion is scheduled to be heard by the bankruptcy court on January 10. The deadline will be extended until at least then. “For now, the deadline is extended until the motion is heard by the Court. We will provide further updates on the bar date as they become available.”...

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The FTX Contagion Goes on: Midas Investments Closes Down

The cryptocurrency platform Midas Investments disabled deposits and swaps due to severe financial losses caused by Celsius’ bankruptcy and FTX’s fiasco. CEO Iakov Levin said the organization will aim to focus on a new project next year that will be “fully transparent” and will offer an “improved investment experience.” Another Victim In a recent blog post, Midas Investments’ Founder and CEO said the company shut down services on its platform yesterday (December 27). It...

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