Celsius In Fresh Trouble: New Court Filing Says Company Hid Financial Woes, M...
According to a court document from the Vermont Department of Financial Regulation, bankrupt cryptocurrency lender Celsius Network made “false and misleading claims” regarding its “financial health and compliance with securities laws”. Celsius Was Ran Like A Ponzi Scheme The Vermont Department of Financial Regulation said in a document supporting the Justice Department’s request to appoint […]
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Core Scientific claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay. Crypto lender Celsius Network's legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers filed on Oct. 19. Core Scientific, which is one of the largest publicly traded crypto companies, claims the default on payments is threatening its financial stability, already hurt by crypto winter and high energy costs. In the....
After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to get their crypto assets back as one client said he had less than $1K in the bank and his situation was a dire emergency in order to “keep a roof over my family and food on their table.”
Celsius Customers....
The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has revealed over 14,000 pages of the usernames and trading histories of the company’s customers. While the file does not disclose personal information tied to the user’s finance providers or the customer’s residential address, the crypto community believes there are other ways these identities can be doxxed.
Crypto Community Is Appalled by Celsius Username and Trading History Court Filing
The embattled crypto lender Celsius is dealing with....
The crypto lending firm intends to get the liquidity and support its operations with the funds from the sell-off. Celsius Networks, a crypto lending company that had frozen the withdrawals in June and has been proceeding through Chapter 11 bankruptcy since July, asked the United States Bankruptcy Court for the Southern District of New York for permission to sell its stablecoin holdings. This should let the company generate liquidity to help “fund the Debtors’ operations.”A notice was filed by the Celsius’ legal team from Kirkland & Ellis law firm on Sept. 15, a hearing where the court....
The latest findings could brew more trouble for the crypto lender for allegedly misleading and offering wrong details in the court documents. A new bankruptcy coin report filed on Aug. 14 shows that troubled crypto lender Celsius’ actual debt stands at $2.85 billion against their bankruptcy filing claims of a $1.2 billion deficit.The latest report shows that the company has net liabilities worth $6.6 billion and total assets under management at $3.8 billion. While in their bankruptcy filing, the firm has shown around $4.3 billion in assets against $5.5 billion in liabilities, representing....