Examiner Appointed to Celsius Bankruptcy Case, Crypto Lender Files for Access...
According to a recently leaked recording stemming from the bankrupt crypto lender Celsius, the business is attempting to revive the company after falling into a financial burden. Following the leak, a Southern District of New York bankruptcy judge appointed a third-party examiner to review the company’s finances. Celsius is also attempting to sell a stash of stablecoins worth $23 million, according to a court filing submitted on Thursday. Celsius Looks to Revival Plan, Examiner Appointed to Scan Financials, Firm Wants Access to Stablecoin Liquidity The ongoing Celsius bankruptcy....
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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 bankrupt crypto lender has been accused by customers of being a Ponzi. Meanwhile, Binance's $500 million investment in Elon Musk's Twitter has been confirmed. Crypto lender Celsius was one of the biggest casualties of the bear market. After halting withdrawals for months due to “extreme market conditions,” the distressed lender officially filed for Chapter 11 bankruptcy on July 13. Now, the federal judge overseeing the bankruptcy proceedings has ordered the case examiner to determine whether the company was operating like a Ponzi scheme. Disgruntled Celsius customers have made a strong....
Following a motion in August, U.S. Bankruptcy Judge Martin Glenn has signed off on a request to appoint an examiner in the Celsius case. A federal judge overseeing crypto lender Celsius’ bankruptcy case has given the green light for the motion to appoint an independent examiner to investigate aspects of Celsius’ business.In an order dated Sept. 14 from the United States Bankruptcy Court of the Southern District of New York, the order notes the examiner’s investigation will look into Celsius’ digital assets, tax payment procedures, and the current status of its mining business following....
The Federal judge overseeing the Celsius case has asked for an investigation to look into whether the firm acted like a Ponzi scheme and has asked for additional details before approving a $3 million bonus scheme. The judge overseeing the Celsius bankruptcy case has ordered the examiner and the official committee of Celsius creditors to determine who will head a probe into whether the firm was operating like a Ponzi scheme.The order during the Nov. 1 hearing comes in response to allegations from customers that Celsius had used assets of new users to pay yields and facilitate withdrawals to....
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 […]