Celsius Says Maintaining Financial Stability Will Take Time
Celsius, one of the top crypto lenders, halted withdrawals on its platform last week due to a terrible liquidity crisis. And now, the crypto lending network has stated that it will take more time to get back on track financially as they are still recovering from financial crises. Celsius is a cryptocurrency lending and interest-paying […]
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The USDT stablecoin issuer Tether denies any correlation between its investment in Celsius and its reserves or stability. The ongoing crisis of Celsius’s native token has nothing to do with the stablecoin provider Tether and will not impact its USDT reserves, according to the company.Tether issued a statement on Monday regarding the major cryptocurrency lending platform Celsius halting withdrawals due to its rumored liquidity crisis. According to the statement, Tether’s lending activity with Celsius has “always been overcollateralized” as with any other borrower and “has no impact” on the....
“It’s not $400 million. It’s the credibility that comes with the people who wrote those cheques,” Celsius CEO said. Cryptocurrency lending platform Celsius Network has raised $400 million in a new equity funding round amid United States regulators increasingly cracking down on crypto lending.Announcing the news on Oct. 12, Celsius noted that the latest funding was led by Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec (CDPQ), and WestCap, an equity firm established by former Airbnb executive Laurence Tosi.Celsius Network raises $400m. @FT "The funding round was....
Celsius reportedly onboarded attorneys to find different solutions to the current financial challenges that the company is facing. Crypto lending platform Celsius Network (CEL) has onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions to the firm's financial woes. The firm is reportedly looking for other strategic alternatives, such as a financial restructuring, apart from its attempts to solve its current problems. The report also noted that Celsius is trying to find investors who would be able to provide financing options for the crypto lending....
The embattled crypto lending platform Celsius has kept withdrawals and transfers frozen since June 12 and told the Celsius Network community that the “process will take time.” Since then, Celsius users are wondering why they are still receiving weekly rewards, and reportedly the company’s management has been arguing with its lawyers over whether or not the business should file for Chapter 11 bankruptcy. However, most of the Celsius articles these days are quoting ‘people familiar with the matter,’ and ultimately these sources cannot be verified. Celsius....
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....