CELSIUS
Examiner: Celsius' accounting and operational controls were 'insufficient'
The independent examiner in Celsius' bankruptcy case has alleged that the company failed to set up "sufficient" accounting and operational controls in its handling of customer funds. The interim report shed light on what ultimately forced the lending platform to halt withdrawals on June 12. Celsius, founded in 2017 by Alex Mashinsky and Daniel Leon, didn't start tracking its balance sheet until after confrontation with regulators in May.
Celsius Gets Green Light from Bankruptcy Judge for Bidding Plans
Celsius Network has received an ok sign from a federal bankruptcy judge for bidding procedure plans. The next step will include setting up a schedule in motion which could see the platform's assets sold by the end of the year.
Lark Davis Escapes Celsius Network Bankruptcy With $2.5Million
According to crypto sleuth ZachXBT, Lark Davis withdrew $2.5 million from Celsius long before the company crashed.
Celsius Co-Founder Daniel Leon Calls it Quits
The embattled crypto lender Celsius Network Ltd. has lost another top member as co-founder Daniel Leon resigned this week.
FTX's Bankman-Fried Considering to Bid on Celsius' Assets
Sam Bankman-Fried is considering bidding for the assets of bankrupt lender Celsius Network, according to a source familiar with the matter.
Celsius May Repay Customers With Wrapped Assets
Executives at Celsius Network are proposing to pay back customers by issuing new wrapped assets to trade on other platforms, a new leaked recording revealed.
Neutral Third Party to Examine Celsius' Finances
A neutral third party is set to examine the finances of Celsius Network which earlier this year filed for Chapter 11 bankruptcy.
Celsius Spent Over $40m on Crypto Mining in First Two Weeks after Bankruptcy
Celsius Network LLC used more than $40 million in cash on its startup mining operation in the first two weeks after filing for bankruptcy, according to a report from the Wall Street Journal.
Celsius Received Approval to Continue Bitcoin Mining
Celsius Network has been granted the approval to use its mined Bitcoin to offset some of the deficit incurred in its daily operations.
Celsius CEO Alex Mashinsky Involves Untimely Trading Prior to Crash: FT
Celsius's Chief Executive Officer, Alex Mashinsky, has been practically handling untimely trading activities of the firm since January.
Celsius Network Coin Report Shows Latetst Net Liabilities Over $2.8 Billion
Embattled crypto lending platform Celsius Network's latest coin report shows the company owing a total of $6.7 billion of token liabilities against just $3.8 billion in assets as of July 29.
Zipmex Files for Bankruptcy Protection, Seeking Moratoriums from Third Party Creditors
Singapore-based crypto trading platform Zipmex has filed a moratorium for seeking bankruptcy protection from the local court. Some of its core activities have been suspended.
Celsius Network Petitions Court to Consult Former CFO Rod Bolger
Crypto lending platform Celsius Network has petitioned the US Bankruptcy Court to grant it permission to re-engage Rod Bolger, its former Chief Financial Officer for resuming consultation.
In Talks with "Interested Parties" for Bailout, Says Zipmex
Zipmex cryptocurrency trading platform is looking ahead as it has confirmed that it is in talks with interested parties who would like to bail out the platform from its recently identified woes.
Celsius Case Experts Yet to Understand Cryptos Ruling Under US Bankruptcy Code
Celsius Network's repayment options to creditors suggest either accepting "cash at a discount" or remaining long-term crypto holders, but this is yet to be decided as the crypto lender's bankruptcy case carries on.