Celsius Initiates Recovery of Large Pre-Bankruptcy Withdrawals
According to a recent creditor notification, creditors who took over $100,000 out of Celsius within three months of the company’s bankruptcy may need to reimburse some of those monies or face legal repercussions. Celsius’s bankruptcy administrators revealed on January 9 a proposal to notify creditors that anyone who took out more over $100,000 in the […]
Celsius Allows Withdrawals for Some Clients Following Court Approval
Celsius, the crypto lending platform that filed for bankruptcy in 2022, has initiated the process of allowing withdrawals for a select group of users. The move is a significant turning point in the company’s complex journey through financial difficulties and legal challenges. According to a recent filing in the United States Bankruptcy Court for the […]
Ex-NovaWulf Team Launches New Crypto Investment Firm Valinor
Some of the key members of NovaWulf, the digital asset investment firm that tried to acquire Celsius, have announced the creation of a new firm called Valinor, which will focus on blockchain and financial innovation opportunities. NovaWulf, the digital asset investment firm that made a bid for the bankrupt crypto lender Celsius, has closed its […]
Celsius Estate Reaches Settlement with Series B Holders
The sale of cryptocurrency custodian GK8 will net $25 million for bankrupt cryptocurrency lender Celsius and its Series B investors. In a late-Monday filing, it was said that $24 million of the Settlement would be used to cover legal costs and that the remaining $1 million would be distributed among the holders of Series B. […]
Celsius Network Fined $4.7B by FTC
The US Federal Trade Commission has fined the insolvent cryptocurrency lender Celsius Network $4.7 billion. The statement made on July 13 states that Celsius and its affiliated businesses will be prohibited from always “offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets.” The company’s […]