Crypto lender Celsius has paid out $250M in rewards
The crypto rewards platform has seen tremendous growth over the past three months. Celsius, a centralized cryptocurrency lending platform, claims to have paid out over $250 million in rewards to its 415,000 users, underscoring the rapid growth of blockchain lending protocols. Celsius announced the milestone in a Monday press release, which highlighted the company’s significant growth over the past two years. “Celsius remains one of the fastest-growing companies in finance as it achieves new milestones week-over-week,” the company said. Unlike DeFi protocols, Celsius offers a centralized....
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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....
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....
The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals.
U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze
The U.S. SEC and securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are investigating the decision by crypto lender Celsius Network to freeze withdrawals, Reuters reported Thursday.
Texas’ director of enforcement Joseph Rotunda explained that officials representing the five state....
According to a Ripple Labs spokesperson, the distributed ledger company is interested in learning about the bankrupt crypto lender Celsius and its assets. When Ripple’s spokesperson was asked if the blockchain firm was interested in acquiring Celsius, the company declined to say. The news follows Celsius customers begging the bankruptcy court to release funds over dire financial emergencies. Ripple Spokesperson Explains Distributed Ledger Company Is Interested in the Bankrupt Firm Celsius and the Crypto Lender’s Assets While Celsius customers await the Southern District of....
According to leaked audio obtained by CNBC, the crypto lender Celsius wants to create an IOU cryptocurrency in order to pay clients back. The audio was provided by a Celsius customer and the recording explains the bankrupt crypto lender wants to create a form of “wrapped tokens” that represents a ratio of what customers are owed and what the firm has left on its balance sheet. The pitch claims that if Celsius customers hold on to their tokens there’s a possibility financial loss could be mitigated. Leaked Audio Verified by Former Celsius Employees Reveals an IOU....