Tag Archives: celsius

Earlier, Celsius Network said that Prime Trust refused to fulfill its obligation of transferring the $17 million in crypto assets at the time of dissolving the agreement. On Thursday, October 20, crypto service provide Prime Trust agreed to return $17 million to troubled crypto lender Celsius Network. Prime Trust is popular for offering custodial services for digital assets.Celsius Network and Prime Trust CaseThe company reportedly held $119 million of Celsius’ assets. In August, Celsius...

Alex Mashinsky – the CEO of the Celsius Network, the doomed digital currency staking platform that is now in the middle of bankruptcy proceedings – has resigned from his post and will no longer be associated with the company. Celsius CEO Alex Mashinsky Says Goodbye A letter of resignation by Mashinsky was submitted in late September and became effective immediately, though while he’s not set to have any official title with the company, Mashinsky said he would be staying...

Celsius – the doomed crypto lending platform that completely collapsed in the summer and is now undergoing bankruptcy proceedings – has issued a plan to compensate all the customers and people that had accounts on the platform that they now cannot access. Celsius Is Looking to Give Customers Their Money Back Celsius caused several individuals to raise eyebrows in confusion and disgust when it was announced the company had frozen withdrawals and that anyone working with...

A new Celsius-themed Monopoly game is coming out for crypto users to “enjoy,” but the problem is that many people out there don’t seem too thrilled or amused by the product. In fact, this is now getting Celsius a lot more flak than when it decided to file bankruptcy and halt all withdrawals. Celsius Continues to Stoke the Fire We all probably remember playing Monopoly as a kid. The game would often take days, weeks, or even months given how strict you were with the...

The Department of Justice (DOJ) is objecting to a motion by troubled cryptocurrency lender Celsius, seeking to reopen withdrawals for selected customers. Since Celsius halted withdrawals in June, the company has filed for Chapter 11 bankruptcy, while the CEO recently resigned from his position. A United States Trustee for the DOJ, William Harrington, on Friday (September 30, 2022), filed an objection, asking the bankruptcy court to deny Celsius’ motions to reopen withdrawals...

As volatility in the crypto market continues, another company has decided to halt all withdrawals as a means of retaining and controlling liquidity. This time, the firm in question is a crypto mining pool provider known as Poolin, and none of the firm’s customers can gain access to their money. Poolin Is Preventing Customers from Accessing Their Money The maneuver has got a lot of crypto traders and analysts worried given that these kinds of steps only lead to more...

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When it comes to crypto, we’re witnessing a wide array of new elements that have not been witnessed before. We are seeing several companies – from Celsius to Voyager Digital to Three Arrows Capital – filing bankruptcy and taking drastic measures to protect themselves from incoming volatility and other market-based problems, and there’s a lot at stake. Bankruptcy Is Becoming Too Common Situations like these are really bringing the space down. People are now viewing crypto...

Sasha Hodder – founder of Hodder Law Firm – has mentioned the U.S. trustee overseeing the Celsius Network bankruptcy proceedings is seeking the aid of an independent examiner due to the company not being transparent enough. Is Celsius Trying to Hide Something? Right now, Hodder is saying that the company and its CEO Alex Mashinsky have not been fully clear or honest about what kind of creditors are owed money, nor have they gone into detail about how much is owed. She...

An independent examiner will look into various aspects of Celsius Network’s digital asset holdings, a US Bankruptcy Court ruled. It indicates that the failed crypto lending platform will face more stringent scrutiny of its financial conduct.    US Bankruptcy Judge Martin Glenn approved a request to this effect on Wednesday, media reports said. However, the examiner has not been selected yet.  Probe by Independent Examiner  The court order to appoint an independent examiner...