Crypto firms facing insolvency ‘forgot the basics of risk management’ — Coinbase
“The issues here were foreseeable and actually credit specific, not crypto specific in nature,” said three department heads at Coinbase.
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Thai Crypto Exchange Zipmex Suspends Customer Withdrawals
The Thailand-based cryptocurrency platform – Zipmex – froze clients’ withdrawals citing volatile market conditions. It remains unknown when the company will restore the service. The latest firm in the cryptocurrency…
Celsius Was “Absolutely Trading CEL to Manipulate the Price”: Former Exec
Celsius former financial crimes compliance director told CNBC that the beleaguered lender was dealing with a range of internal failures years before it filed for Chapter 11 bankruptcy. Celsius Faces...
Celsius Is Hoping for a Bull Market to Repay Customers
During a late Monday bankruptcy hearing, Celsius lawyer Patrick Nash told the judge that all is not lost, as the firm is aims for a reorganization rather than a liquidation....
Celsius lawyers claim users gave up legal rights to their crypto
Lawyers for the bankrupt crypto lender reaffirmed that user funds essentially belonged to the company and not the user, with potentially one major exception.
Celsius Unveils Recovery Plans in Bankruptcy Hearing
Celsius Network detailed new recovery plans today during its bankruptcy hearing and in a related court document. Celsius Has Plans for Recovery Celsius representatives appeared in court today for the...
Report: Equitiesfirst Named as Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in…
EquitiesFirst Owes Celsius $439M: Report
Celsius is owed $439 million from a single counterparty, EquitiesFirst, which has been paying off its debt by $5 million each month. Celsius involuntarily became EquitiesFirsts creditor when the investment...
Celsius bankruptcy filings show a company in deep trouble
The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back.
“I Am Suicidal”: Celsius Customers Respond to Firm’s Bankruptcy
Celsius announced it had filed for Chapter 11 bankruptcy early Wednesday. Multiple Celsius customers have taken to social media to share their woes following the update. Celsius Files for Chapter...
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