CELSIUS
Celsius Says Bitcoin Mining Key to Restructuring Efforts, Repaying Debts
Celsius Network received approval from a U.S. bankruptcy judge to spend $3.7 million in construction costs at a new bitcoin mining facility to generate 'revenue' to repay their creditors.
$1.19B Deficit Hole Listed on Balance Sheet: Celsius Network
A 61-page filing showed Celsius Network with a liability of $5.5 billion, including a $4.7 billion loss from their clients. The Chief executive attributed it to its poor asset deployment decisions.
Celsius Files for Chapter 11 Bankruptcy Protection, Clears Debt with Compound
Celsius Networks has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. The crypto lender also repaid its remaining debt to the DeFi lending protocol Compound.
Celsius is "Deeply Insolvent", Says Vermont's Financial Regulator
Vermont's Department of Financial Regulation also said that Celsius Network is also not honouring its obligations to customers and creditors as it does not have the assets and liquidity to do so.
Celsius Makes More Repayments and Withdrawal: Sources
According to tracker Etherscan, Celsius repaid $78.1 million worth of USDC stablecoin to Aave and $35 million worth of stablecoin DAI on the platform Compound.
Celsius Hires New Lawyers for Restructuring: WSJ
Celsius Network LLC has hired new lawyers to advise the troubled cryptocurrency lender on restructuring, according to a report from the Wall Street Journal (WSJ).
CoinLoan Announces Temporary Reduction of Withdrawal Limit
Crypto-backed loans provider CoinLoan has temporarily reduced the withdrawal limit for traders. The company said that the move was made due to the current market turmoil.
Celsius Denies Allegation of CEO Leaving US
Celsius Network has denied its CEO's leaving from the US, claiming that all related allegations are false. Alex Mashinsky was reportedly stopped by authorities, amid insolvency rumours about his company.
BlockFi Lands $250m Credit Facility from FTX Derivatives Exchange
Struggling digital assets company BlockFi has received a $250 million credit facility from FTX Derivatives Exchange as it looks to survive the current downturn in the crypto industry.
Celsius Repays Compound Finance $10m Worth of DAI
Crypto lender Celsius Network has repaid interest-yielding DeFi service Compound Finance with $10 million worth of the DAI algorithmic stablecoin, according to a report from Crypto Briefing.
Babel Finance Reaches Agreement on Modalities for Repayment of its Loans
Following the halt of its withdrawals amidst its inability to pay its creditors as the crypto market meltdown took a bearish turn in the past few days, Babel Finance has announced measures to ease off its immediate operational burdens.
BitBoy Crypto to Launch Class Action Lawsuit Against Celsius
BitBoy Crypto is taking the cessation of withdrawals by crypto lending platform Celsius more personally and has threatened to file a class-action lawsuit against the embattled lender.
Nexo AG Says Interested in Acquiring Celcius Network's Remaining Qualifying Assets
Nexo AG has released a Letter of Intent showing its potential interest in the possible acquisition of certain assets of crypto firm Celcius Network LLC and Celsius Lending LLC.
US Crypto Lender Celsius to Stop Paying Interests to Unaccredited Investors
In line with regulatory demands, American crypto lender, Celsius has shared details of a restructuring to its Earn product which will now be limited to only Accredited investors.
Crypto Lender Celsius Raises $400M as Investors Shun Regulatory Crackdowns
Kentucky-based digital asset lending platform Celsius Network has announced its latest $400 million fundraisers as led by WestCap and CDPQ.