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Celsius Network, one of the world’s largest cryptocurrency lenders, has filed for bankruptcy protection, a month after freezing customer assets in the wake of sharp turbulence in the crypto market that has toppled business models of several firms. The New Jersey-headquartered startup, which was valued at $3.25 billion when it extended its “oversubscribed” Series B […]
A federal bankruptcy judge ruled cryptocurrencies deposited into interest-bearing accounts at Celsius Network, a now-bankrupt cryptocurrency lending platform, actually belong to the firm – thanks to the fine print. The verdict gives Celsius ownership of the $4.2 billion in cryptocurrency that users deposited into its high-interest Earn program, according to a 45-page filing from the […]
New York Attorney General Letitia James filed a lawsuit against Alex Mashinsky, co-founder and former CEO of Celsius Network, according to an announcement on Thursday. James alleged that Mashinsky defrauded “hundreds of thousands of investors…out of billions of dollars worth of cryptocurrency.” The lawsuit also claims that Mashinsky “repeatedly made false and misleading statements about […]
Crypto hedge fund Three Arrows Capital (3AC) has filed for Chapter 15 bankruptcy in New York, according to a report in Bloomberg. The mega fund, founded by Credit Suisse traders Zhu Su and Kyle Davies, at one time managed an estimated $10 billion in assets and was a linchpin among crypto finance players. Its insolvency […]
