Crypto Lender Celsius CEO Withdrew $10 Million Weeks Before Bankruptcy

Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday that it has “filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New....

According to a press release from the Securities and Exchange Commission (SEC), influencer and socialite Kim Kardashian was charged with allegedly promoting a “crypto security”, called EthereumMax. The celebrity has agreed to cooperate with the regulator’s investigation. Related Reading: Crypto Lender Celsius CEO Withdrew $10 Million Weeks Before Bankruptcy This is not the first time […]

The details of the withdrawal will reportedly be part of upcoming court filings, and it's possible the founder and former CEO of the crypto platform could be forced to pay it back. Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy.The withdrawal was cited by sources from the Financial Times who said Mashinsky withdrew the funds in “mid to late May” prior to the Jun. 12 pause on all withdraws. Celsius was a popular crypto-lending platform with 1.7....

Failed crypto lender Celsius Network has received bankruptcy court approval for its plan to transform into a creditor-owned Bitcoin mining firm, as reported by Bloomberg.  The approval is part of a wider proposal aimed at repaying customers who have frozen their accounts for over a year. Celsius Network’s Path To Recovery US Bankruptcy Judge Martin […]

Celsius Network Ltd., the crypto lender that filed for Chapter 11 bankruptcy protection on July 13, is looking to release roughly $50 million worth of crypto assets to Celsius custody account holders. Reportedly, the Celsius custody accounts did not participate in the earn and borrow program. A court hearing concerning the matter of relief will take place on October 6. Celsius Files Debtors’ Motion to ‘Reopen Withdrawals for Certain Customers’ Court documents show that Celsius is looking to release roughly $50 million in funds to select customers. The....