Tag Archives: celsius network

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CoinspeakerThai SEC Files Legal Charges against Former Zipmex CEO for Alleged Fraud Earlier this month, financial authorities ordered Zipmex Thailand to cease digital asset trading and brokerage services on the platform. Thai SEC Files Legal Charges against Former Zipmex CEO for Alleged Fraud

Celsius Network filed for Chapter 11 bankruptcy protection in April 2022, hoping to restructure its debt and find a buyer for its assets. Celsius Network, the bankrupt crypto lending company, has taken a significant step forward in prioritizing the needs of its creditors. The company is currently seeking court approval to efficiently distribute payments to its creditors before the year comes to an end. This proposed plan showcases Celsius’ commitment to transparency and efficiency in...

Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens. A mathematician working for Celsius Network’s valuation advisor Stout Risius Ross LLC has confirmed that the fair value of some debtors’ assets and liabilities as of May 31, 2023, is correct. Joel E. Cohen, in a declaration at the New York bankruptcy court, detailed the methods used to analyze the valuation and arrive at the conclusion. Cohen noted in the...

CoinspeakerPrime Trust Files for Bankruptcy Protection amidst Financial Struggles Prime Trust announced its intention to present a series of motions to the court. Prime Trust Files for Bankruptcy Protection amidst Financial Struggles

CoinspeakerBREAKING: SEC Sued Alex Mashinsky Former CEO of Bankrupt Crypto Lender Celsius Network The problems with Celsius Network and Mashinsky first surfaced in June of last year when the platform abruptly froze withdrawals, leaving users anxious about the security of their cash. BREAKING: SEC Sued Alex Mashinsky Former CEO of Bankrupt Crypto Lender Celsius Network

CoinspeakerCelsius Ex-CEO Risk to Face CFTC Lawsuit CFTC investigators claim that they have reasons to believe that the bankrupt lender and its former CEO violated the rules of the agency. Celsius Ex-CEO Risk to Face CFTC Lawsuit

The deal is yet to be finalized as an initial deposit is expected within the next ten days. It is a good day for the embattled crypto lender Celsius Network as crypto consortium Fahrenheit LLC has won the bid to acquire the insolvent firm whose assets were previously valued at $2 billion. According to a May 25th court filing, the Arrington Capital-backed group emerged as the successful bidder after beating NovaWulf Digital Management. Markedly, Fahrenheit is a conglomerate of buyers which...

While the EU is in the final stages of making MiCA a reality and hence fosters a more defined market participation, the industry has been fussing around the laid-back approach of the US in relation to floating similar rules. The European Union (EU) has now broken the record of being the first region in the world to pass the most comprehensive regulations to guide the broader nascent digital currency ecosystem. The recent approval came from the EU Parliament who voted for the bill by a...

Despite several headwinds in 2022, Novogratz said that the company continues to lead from a position of strength, remaining open for business for our clients and counterparties. On Tuesday, March 28, Canadian investment firm Galaxy Digital, operated by Wall Street veteran Mike Novogratz, reported a pre-tax profit of $150 million from January 1, 2023, through March 24, 2023. This is a major sign of optimism for the crypto firm which reported $1 billion in net losses for the last year 2022....