Celsius Network News

A US judge in the Celsius Networks bankruptcy case ordered the lender to return crypto worth $50 million to users of custody accounts (only), Bloomberg reported.

Embattled crypto lender Celsius has transferred over $125 million worth of Ether to various cryptocurrency exchanges as part of its plan to initiate repayments to its creditors.

The bankrupt crypto lender Celsius Network has notified its creditors that customers who made substantial withdrawals in the 90 days leading up to the bankruptcy declaration may need to return a portion of the funds or face legal consequences.

Now-defunct cryptocurrency lender Celsius Network has revealed plans to unstake its Ethereum (ETH) holdings as part of its efforts to distribute assets to creditors. 

Bankrupt cryptocurrency lending company Celsius Network has achieved a significant milestone in its Chapter 11 bankruptcy proceedings. The United States Bankruptcy Court for the Southern District of New York has granted approval for Celsius Network’s proposed “MiningCo Transaction” within the framework of its Chapter 11 bankruptcy proceedings.

Celsius Network has scaled back its post-bankruptcy business plans to focus only on bitcoin mining, citing U.S. regulators' skepticism of its other planned business lines. Celsius, whose restructuring plan had also envisioned the company earning «staking» fees by validating blockchain transactions and managing its legacy portfolio of cryptocurrency loans, said in a statement late Monday it had changed course after receiving «feedback» from the U.S. Securities & Exchange Commission. Celsius declined to comment on Tuesday. The SEC did not immediately respond to a request for comment. A U.S. bankruptcy court in Manhattan had approved Celsius' Chapter 11 plan on Nov. 9, clearing the company to return cryptocurrency to customers and create a new company owned by Celsius creditors.

Former Celsius Network CEO Alex Mashinsky is set to face a criminal trial beginning on September 17, 2024.

During an October 2 hearing regarding the approval of its reorganization plan, the bankrupt crypto lender, Celsius Network, informed a judge of its intention to initiate repayments to its customers by the end of the year.

On Monday, September 25, the United States Securities and Exchange Commission (SEC) opposed the crypto firm Celsius Network's proposal to involve Coinbase as part of its bankruptcy and reorganization plan.

Creditors in the Celsius bankruptcy case have voted in favor of a comprehensive plan, paving the way for the return of funds and the equitable distribution of assets through the establishment of a new entity.

Beleaguered crypto lending firm Celsius Network, that went bankrupt in July 2022, has filed an “adversary complaint” against private lending platform EquitiesFirst, in an attempt to recover assets.

The US Department of Justice (DOJ) has requested six to eight weeks to gather evidence for its case against Alex Mashinsky, the founder and former CEO of cryptocurrency lender Celsius. 

Bankrupt crypto lender Celsius has liquidated nearly $25 million in different altcoins after a US court approved the firm to convert altcoins to BTC and ETH earlier this month. 

The former CEO of bankrupt crypto lender Celsius Network Ltd., Alex Mashinsky, has been charged with fraud by the U.S. Department of Justice (DoJ) and sued by three regulatory agencies over the company's collapse.

Commodity Futures Trading Commission (CFTC) investigators have ruled that crypto lender Celsius Network and its former CEO Alex Mashinsky violated US rules before the company collapsed. 

The United States Bankruptcy Court for the Southern District of New York has allowed Celsius debtors to trade their altcoins for Bitcoin and Ether starting today. 

Creditors of the bankrupt landing firm Celsius have amended their lawsuit to include Wintermute. 

Now-defunct crypto lender Celsius Network has caused a stir with changes in its ETH staking strategy, exacerbating the already elongated queue to activate new validators on the Ethereum network. 

Bankrupt crypto lender Celsius Network LLC has chosen Fahrenheit as its winning bid, which will provide the capital and team to operate a new company.

The now-bankrupt crypto lender Celsius Network may get a second chance with the help of Wall Street investment giants.

The bankrupt crypto lender Celsius Network has staked close to $75 million worth of ETH via the staking service Figment, on-chain data has revealed.

Apollo Global Management is reportedly part of a bid by crypto investment firm NovaWulf to acquire the bankrupt crypto lender Celsius Network.