Celsius resumes withdrawals for Custody customers
Approximately 263 days after the lender froze withdrawals in the run-up to its bankruptcy filing, some Celsius custody customers have reportedly been able to withdraw money from the cryptocurrency company. As of March 2, some customers who had money in Celsius’ Custody accounts have reportedly been thrilled to finally be able to get their money […]
Celsius selects NovaWulf as sponsor for its bankruptcy plan
For its proposed Chapter 11 bankruptcy restructuring plan, insolvent cryptocurrency lender Celsius Network has selected NovaWulf Digital Management as the sponsor. On February 15, Celsius filed a document with the United States Bankruptcy Court for the Southern District of New York outlining the strategy. The Celsius Official Committee of Unsecured Creditors (UCC), a group that […]
Celsius to reopen partial withdrawals for users who qualify
Celsius stated that it will inform qualified consumers of how to begin withdrawing assets from certain custody accounts. According to the release, Celsius placed the list of qualified consumers in its distribution plan and will send emails and in-app notifications for the next phases. To present, Celsius has not specified a time when withdrawals will […]
Court Sets New Deadline For Celsius Restructuring Plan
Bankrupt cryptocurrency lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The troubled crypto lender now has a few more months to file for a Chapter 11 restructuring plan thanks to the court’s approval. After two court appearances on December 6, the decision to prolong the exclusivity period was made. […]
Galaxy Digital acquires Celsius GK8 in bankruptcy sale
GK8, the self-custody platform, which Celsius paid $115 million in 2021, is about to change hands, subject to regulatory permission. GK8, an institutional digital asset self-custody platform owned by Celsius Network, has been awarded to Mike Novogratz-led investment firm Galaxy Digital Holdings, subject to court clearances and other closing requirements. The platform’s almost 40-person team, […]