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On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, … Read more
Voyager hints that its customers will eventually transition to the FTX platform after it finishes its chapter 11 bankruptcy proceedings. Go to Source Powered by WPeMatico
According to leaked audio obtained by CNBC, the crypto lender Celsius wants to create an IOU cryptocurrency in order to pay clients back. The audio was provided by a Celsius customer and the recording explains the bankrupt crypto lender wants to create a form of “wrapped tokens” that represents a ratio of what customers are … Read more
Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter 11 Bankruptcy Protection Five … Read more
Following a motion in August, U.S. Bankruptcy Judge Martin Glenn has signed off on a request to appoint an examiner in the Celsius case. Go to Source Powered by WPeMatico
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege … Read more
The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back. Go to Source Powered by WPeMatico
During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto … Read more
The company says it’s planning to continue operations throughout the restructuring process, though withdrawals will continue to be paused at this time. Go to Source Powered by WPeMatico
An unnamed source told CNBC that the company plans to file the bankruptcy paperwork “imminently.” Go to Source Powered by WPeMatico
