Celsius Announces Distribution of Additional $127M to Creditors
In a post on November 28, bankrupt crypto lending firm Celsius announced that it will distribute an additional $127 million to creditors soon. The post stated that the distribution is being made available from the “Litigation Recovery Account” and will be paid to creditors of classes 2, 5, 7, 8, and 9. Retail borrower depositors […]
Former Celsius CEO Scheduled to Reappear in Court on Nov 13
The Former Celsius CEO was ordered by Judge John Koeltl to appear in court on November 13 to address his motion to dismiss charges of market manipulation and fraud. For the first time in months, Alex Mashinsky, the former CEO of crypto platform Celsius , will be present in a New York courtroom to present […]
Celsius Distributes $2.5B to 251K Creditors Amid Bankruptcy Proceeding
According to the Celsius bankruptcy administrator, more than 121,000 creditors have yet to claim their funds. Celsius has reimbursed two-thirds of its eligible clients as part of its much-anticipated bankruptcy proceedings. As per an August 26 court filing , the bankrupt cryptocurrency lender has returned about $2.53 billion to 251,000 creditors. This sum accounts for […]
Celsius Exchange Sues Tether For $3.5B Over BTC Bond Selloff
Celsius exchange has sued Tether, alleging misappropriation of holdings and requesting nearly $3.5B in BTC returns and legal fees. The assets in issue were provided to Tether as collateral. According to Tether, Celsius exchange requests the recovery of approximately $2.4 billion BTC in its lawsuit. Nevertheless, Celsius has requested relief from the court in the […]
Celsius Sues Tether to Recover $2B in Bitcoin Fraud
Celsius argues that Tether sold the Bitcoin at a low price and violated contract terms, exacerbating their bankruptcy. Celsius Network Ltd. has filed a lawsuit against Tether and its affiliated organizations. According to the allegations made in the lawsuit, the USDT issued today carried out “fraudulent” and “preferential” transfers of Bitcoin (BTC) totaling more than […]