CELSIUS CHAPTER 11
Bitcoin miner and AI firm Ionic Digital files for Nasdaq direct listing
The company was formed in January 2024 to acquire the cryptocurrency mining assets of Celsius Mining, a subsidiary of Celsius, which received U.S. bankruptcy court approval for a restructuring in November 2023.
Celsius Network wins court approval for shift to bitcoin mining
US bankruptcy judge Martin Glenn in Manhattan on Wednesday said the bankruptcy plan approved in November contained enough flexibility to allow Celsius to switch to a backup plan after it hit a road block with the US Securities and Exchange Commission.
Celsius Network pivots to bitcoin mining after bankruptcy
Celsius declined to comment on Tuesday. The SEC did not immediately respond to a request for comment.
Crypto lender Celsius Network cleared to exit bankruptcy
US Bankruptcy Judge Martin Glenn in Manhattan signed off on the restructuring in an order published on Thursday. The reorganized business will be managed by Fahrenheit LLC, a consortium that includes hedge fund Arrington Capital, and it will focus on mining new bitcoin and earning "staking" fees by validating blockchain transactions.
Crypto lender Celsius Network cleared to exit bankruptcy
New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals. Celsius, which was once valued at $3 billion, was one of the largest crypto collapses last year.
Binance's Bitcoin trading volume dips 48% amid reintroduced fees
Binance has witnessed its Bitcoin trading volume drop by 48% this month after the exchange reinstated fees for its most liquid BTC trading pairs.
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Payments processor Checkout dumps Binance over regulatory concerns
Binance was once Checkout.com's largest client -- with more than $2 billion in transactions in one month in 2021, reports Forbes.
Crypto lender Celsius sends bankruptcy plan to creditor vote
Judge Martin Glenn signed off on Celsius's disclosure statement and solicitation materials at a U.S. Bankruptcy Court hearing in Manhattan, saying Celsius had given creditors sufficient information to vote on the proposed restructuring.
Founder of bankrupt crypto lender Celsius must face NY fraud lawsuit
Justice Margaret Chan said the attorney general sufficiently alleged that Mashinsky defrauded investors by touting Celsius as a safe alternative to banks and concealing its risks, including hundreds of millions of dollars of investment losses.
Founder of crypto lender Celsius Network pleads not guilty to fraud charges
Mashinsky was charged with seven criminal counts - including securities fraud, commodities fraud and wire fraud - according to an indictment unsealed earlier on Thursday.
Founder of crypto lender Celsius Network Alex Mashinsky arrested, charged with fraud
Alex Mashinsky was charged with seven criminal counts - including securities fraud, commodities fraud and wire fraud - while Celsius' former chief revenue officer, Roni Cohen-Pavon, was charged with four criminal counts.
Crypto lender Celsius picks Fahrenheit's bid for bankruptcy exit
Fahrenheit, a consortium that includes blockchain-based venture capital firm Arrington Capital, will provide the capital, management team and technology to establish and operate the new company (NewCo), Celsius said.
Bankrupt crypto lender Voyager Digital predicts 35% customer payout
Cryptocurrency lender Voyager Digital said Wednesday that customers will soon recover about 35% of their cryptocurrency deposits as the company winds down operations after a failed buyout attempt by crypto exchange Binance.US. U.S. Bankruptcy Judge Michael Wiles approved Voyager's liquidation plan at a court hearing in Manhattan, allowing the company to return about $1.33 billion in crypto assets to customers and end its efforts to reorganize under Chapter 11. Customers may be able to make withdrawals by
Bankrupt crypto lender Voyager Digital predicts 35% customer payout
Voyager filed for bankruptcy protection in July, citing volatility in cryptocurrency markets and a default on a large loan made to crypto hedge fund Three Arrows Capital (3AC).
Crypto lender Celsius Network chooses NovaWulf bid for bankruptcy exit
The proposed deal with NovaWulf should allow Celsius to exit Chapter 11 and begin returning crypto assets to customers in June, Celsius attorney Ross Kwasteniet said at Wednesday's hearing.
FTX judge weighs demand for independent bankruptcy investigation
FTX says an examiner would merely duplicate work already being done by FTX, its creditors, and law enforcement agencies.
New York sues Celsius Network founder Mashinsky, alleges crypto fraud
Mashinsky persisted in promoting Celsius as a safe alternative to banks, paying interest as high as 17% on deposits, while concealing hundreds of millions of dollars of losses in risky investments, according to a complaint filed by the attorney general, Letitia James.
Crypto miner Core Scientific files for Chapter 11 bankruptcy
The Austin, Texas-based miner said it would not liquidate and would continue to operate normally, as it expects to enter into a restructuring support agreement with its creditors, who represent over 50% of the holders of its convertible notes.
Crypto firm Voyager to sell assets to Binance.US in $1 billion deal
Palo Alto, California-based Binance.US, which operates as an independent legal entity and has a licensing agreement with Binance.com, will make a $10 million deposit and reimburse Voyager for certain expenses up to $15 million.
FTX gets official creditors' committee in its bankruptcy case
The committee - which includes a mix of individual account holders, investment funds, and an affiliate of U.S. crypto firm Genesis - will represent the interests of all unsecured creditors, who are among the last to be paid in a typical bankruptcy.
Galaxy wins bid for collapsed crypto lender Celsius' GK8 unit
The purchase followed a sale process executed in connection with Celsius' Chapter 11 bankruptcy and is subject to court approvals and other closing conditions, the company said.
Crypto meltdown a boon for bankruptcy lawyers
Large law firms can rake in more than $100 million in legal fees during a long-running bankruptcy, experts said. "You've got to pay the gravedigger," said Adam Levitin, a law professor at Georgetown University who specializes in bankruptcy law. "These are complicated cases with a bunch of novel issues, and it shouldn't be surprising that they are going to require a lot of attorney involvement."
BlockFi makes first appearance in bankruptcy court
BlockFi is expected to tell U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey why it went bankrupt and how it plans to exit from Chapter 11.
Crypto lender Celsius not seeking payments for outstanding loans
The lender also listed a $1.19 billion deficit on its balance sheet and had about 23,000 outstanding loans to retail borrowers totaling $411 million backed by collateral with a market value of $765.5 million in digital assets, as of July 13 this year.
Celsius CEO steps down amid bankruptcy proceedings
Celsius, based in Hoboken, New Jersey, filed for Chapter 11 bankruptcy on July 13, one month after freezing withdrawals and transfers for its 1.7 million customers because of "extreme" market conditions and listing a $1.19 billion deficit on its balance sheet.
Celsius Network's CEO Alex Mashinsky resigns, says will work with business to ensure creditors get best solution
Celsius Network's CEO, Alex Mashinsky, resigned months after the company filed for bankruptcy. The company's financial circumstances caused the market to fall and made many companies freeze their assets. However, the company is considering introducing a new cryptocurrency in the market.
Bankrupt crypto lender Celsius sues ex-money manager over alleged theft
In a complaint filed in Manhattan bankruptcy court, Celsius accused Jason Stone and his company KeyFi Inc of "gross negligence" and "extraordinarily inept" crypto investing, after Stone falsely portrayed himself as a pioneer in the field.
Crypto Price Today Live: Bitcoin, Ethereum, Solana & Polygon jumped up to 4%
The global cryptocurrency market cap was trading higher at the $978.65 billion mark, rising close to 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped about 3 per cent to $60.49 billion.
Crypto lender Celsius Network reveals $1.19 bln hole in bankruptcy filing
Crypto lenders boomed during the COVID-19 pandemic, drawing depositors with high interest rates and easy access to loans rarely offered by traditional banks. They lent out tokens to mostly institutional investors, making a profit from the difference.
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