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External Examiner Reports Shortfalls In Celsius’ Custody Program

Shoba Pillay, the external examiner in the Celsius bankruptcy case, reported that the lender's Custody program lacked proper “accounting and operational controls or technical infrastructure.”

Court Approves January 3 As Deadline For Celsius Customers to File Claims

The court has approved January 3 as the bar date for all Celsius customers to file their claims. Stretto will send out a notice to all customers through emails, physical mail and notifications on the Celsius app.

BlockFi Halts Withdrawals Following FTX/Alameda Crisis

BlockFi has announced that it will limit platform activity, including clients’ withdrawals. This follows the FTX liquidity crunch and a series of reassuring tweets by BlockFi.

Celsius Requests Extension For Submitting Restructuring Plan

Celsius filed motions requesting the Court to extend its exclusivity period for submitting a restructuring plan.

Nexo Boasts Of $0 Net Exposure To FTX

Nexo has boasted of its $0 exposure to FTX amid the exchange crisis. Its small loan to Alameda, fully collateralized by digital assets, was sold off a few days ago, making them immune to any losses.

Celsius Under Investigation Over Allegations Of Operating Like A Ponzi Scheme

Federal judge Martin Glenn expanded the scope of the investigation into Celsius’ bankruptcy proceedings. Next, Pillay will consult with the Celsius Creditors Committee to decide who will lead the probe into Celsius.

Judge Rejects Celsius’ $3M Key Employee Retention Plan

Federal judge Martin Glenn disapproved Celsius’ plan to pay bonuses worth $3M to select employees.

Core Scientific Set To File For Bankruptcy

Core Scientific might be filing for bankruptcy in the near future. This is due to the prolonged decrease in Bitcoin price and other factors, which have affected the company’s liquidity.

Alex Mashinsky Accused Of Falsely Claiming To Invest $18M In CEL’s ICO

Tiffany Fong’s latest set of Tweets alleged that Alex Mashinsky, Co-Founder and Ex-CEO of Celsius, falsely claimed to invest $18M in CEL's ICO.

Celsius Gains Court Approval For Its Bidding Procedure

The Court approved Celsius' plan for the auction of its assets and mandated the appointment of a customer privacy ombudsman.

Freeway Halts Services Following Unprecedented Volatility

Freeway has announced halting transactions related to its Supercharger product. The company cited unprecedented volatility in the market and claims this move will help diversify its asset base.

Prime Trust Agrees To Return $17M To Celsius

Prime Trust has agreed to transfer $17M worth of crypto assets to Celsius.

JPMorgan Hires Ex-Celsius Executive As Crypto Policy Head

JPMorgan Chase hired former Celsius executive Aaron Iovine as its head of crypto regulatory policy. Following his appointment, Iovine will now work with JPMorgan’s regulatory affairs group.

Celsius To Pay Over $3M As Legal Counsel Fees

Monthly fee statements from law firms revealed that Celsius owes them over $3M as litigation counsel expenses.

Celsius Files Motion To Schedule Bar Date

Celsius requested the Court to set the deadline for its clients to submit their proof-of-claim forms on December 13.

Celsius Creditors’ Details Leak In Bankruptcy Disclosure Proceedings

Celsius has filed its Schedules of Assets and Liabilities and Statements of Financial Affairs in line with the bankruptcy proceedings. This move has placed users at risk of fallouts and possible cyber threats.

TrueFi Announces First Default on BUSD Loan by Blockwater Technologies

TrueFi has issued its first notice of default on the BUSD loan to Blockwater Technologies. The firm owes TrueFi over $3.4 million and has only been able to pay $645,000.

Updates on Celsius

So much has been going on with embattled crypto lender Celsius. Here are some updates detailing the activities of its Top Execs and what the future holds for the lending platform.

Celsius’s Top 3 Executives Withdrew $56M Before Company’s Bankruptcy

A new court record reveals that the top three executives of the now defunct crypto lending platform, Celsius, withdrew about $56.2 million before the company halted withdrawals and filed for bankruptcy.

Celsius’ Chief Strategy Officer Steps Down

S. Daniel Leon, Celsius’ Co-Founder, resigned from his position as Chief Strategy Officer via an internal memo.

Nexo’s Co-Founders Debunk Rumors Of Insolvency

Nexo’s Co-Founders reassured investors that Nexo is fully solvent and quelled rumors about the platform facing bankruptcy. They also answered the community’s questions related to Nexo's recent developments.

Lido Staked Ether (stETH) Regains ETH Peg

Lido Staked Ether (stETH), which previously lost its peg to Ethereum (ETH), has recovered. This follows the DAO’s decision to raise stETH's APR after Ethereum's Merge.

FTX’s CEO Reveals How They Will Approach Celsius' Auction

Addressing Simon Dixon's Tweets, Sam Bankman-Fried disclosed how FTX would place bids on Celsius’ Assets.

Alex Mashinsky Withdrew $10 Million Days Before Freezing Clients' Accounts

A Financial Times report revealed that Alex Mashinsky, former CEO of Celsius, withdrew $10 million shortly before freezing clients' funds in June. His representative claims the withdrawal was used for tax settlements.

Celsius Submits Proposal For The Auction Of Its Retail Assets

Celsius filed a notice to auction its retail assets and exit Chapter 11 bankruptcy. According to sources, FTX has set its sights on acquiring Celsius' assets.

Celsius Creditor Committee Objects To Equity Holders' Motion

The Unsecured Creditor Committee (UCC) is moving to counter the motion to set up another committee to represent equity holders.

State Regulators Object To Celsius' Plan Of Selling Stablecoin Holdings

The Texas and Vermont regulators raised concerns over Celsius' request to sell its $23M worth of stablecoin assets to generate liquidity for its operations.

Court Appoints Shoba Pillay To Examine Celsius’ Chapter 11 Bankruptcy Case

The U.S. Bankruptcy Court in the Southern District of New York has approved the appointment of a third-party examiner to look into Celsius’ finances.

FTX Reportedly Seeks To Acquire Celsius’ Assets

According to sources, Sam Bankman-Fried, CEO of FTX, is considering bidding on crypto lender Celsius’ assets to bail the latter out of bankruptcy.

Alex Mashinsky Steps Down As Celsius Network CEO

Alex Mashinsky, CEO of defunct crypto lender, Celsius Network, has submitted his resignation letter. He will be stepping down immediately as the CEO but will still maintain his direct position as the company's founder.

Celsius CEO’s Wife Sells “Unbankrupt Yourself” T-shirt Referencing Company’s Slogan

An e-commerce site, usastrong.io, founded by the wife of Celsius CEO, Krissy Machinsky, now sells T-shirts branded “Unbankrupt Yourself.” This has raised reactions across social media as users think it is insensitive.

Celsius Seeks Court Approval To Sell Its Stablecoin Holdings

Celsius Network filed a request to sell its stablecoin assets in order to acquire funds for its operations.

Thai SEC Prohibits Crypto Operators From Providing Staking and Lending Services

Thai SEC has banned crypto operators from providing or advertising crypto depository services that pay returns to depositors. They claim this move will protect the public from the business risks of these services.

South Korean Prosecutors Issue Arrest Warrant Against Terraform Labs CEO

Investigation teams from the Seoul Southern District Prosecutor's Office issued an arrest warrant against Do Kwon, co-founder, and CEO of Terraform Labs, over violation of the Capital Markets Act.

Celsius Files To Reopen Withdrawal For Eligible Users

The defunct crypto lender announced that it is making moves to pay holders of certain accounts. The proceeding will be held on 14 September, so until then, affected users will have to keep their fingers crossed.

Celsius CFO Debunks Rumors, Reveals Details About Mining Operations

In a recent bankruptcy hearing call, Chris Ferraro, Celsius’ CFO, assures investors that the platform has enough funds to last until the end of 2022. 

Zipmex CEO Refuses To Resign Following $50M Loss

Marcus Lim, CEO of crypto exchange platform Zipmex, reveals he will not step down from his leadership role despite the company’s losses amounting to over $50M.