According to a report by Law360, a court overseeing the bankruptcy case of the company Celsius Network has given the company permission to sell newly-mined Bitcoin. This is a break for the troubled cryptocurrency lender Celsius Network. Despite initial objections, particularly those linked to the costs of Celsius’ Bitcoin mining activities, Judge Martin Glenn of … Read more
According to Reports, the CEO of Celsius Took Dangerous Actions That Resulted in a Loss of $50 Million. Alex Mashinsky acquired control of the Celsius trading system a few months before the company went bankrupt. Concerning trading decisions and Frank van Etten’s involvement with the trading style, Mashinsky and Frank van Etten, the company’s previous … Read more
Users’ attempts to remove their funds from the platform have been a rollercoaster since Celsius Network prohibited withdrawals, swaps, and transfers last month. The lending program eventually filed for Chapter 11 bankruptcy this week, following in the footsteps of Voyager, which brought everything to a head. Users had some hope that they may receive their … Read more
Although Celsius has declared bankruptcy, legal experts believe it may take a while to satisfy customer claims. The situation is further complicated by the lack of clear legal precedents for those interested. Celsius may list some of its customers as unsecured creditors, bringing a fresh round of legal action. The likelihood of Celsius’ creditors retrieving … Read more
As a new lawsuit claims that a troubled cryptocurrency lending business deceived investors, the walls are coming around it. In addition to being sued, Celsius Network declared bankruptcy last week, is now accused of operating like a Ponzi scheme. Plaintiff Taylor Goines claims the following in a class action lawsuit filed on Wednesday in a … Read more