Mashinsky files motion to dismiss NY AG suit, says it ‘parrots misinformation’
Former Celsius CEO Alex Mashinsky was charged with seven counts of fraud in connection with “false and misleading statements” about his company, among other things.
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Former Celsius CEO Alex Mashinsky was charged with seven counts of fraud in connection with “false and misleading statements” about his company, among other things.
Two new consortiums will dispute the assets of bankrupt crypto lender Celsius Network in an auction scheduled for April 25 in New York.
Creditor Tiffany Fong has argued that she hasn’t done anything wrong, asserting that she didn’t break any non-disclosure agreements by reporting on the leaked information.
"Our Disclosure Statement will provide a summary of the Plan, account-holder recovery percentages, FAQs, and additional information on certain risk factors," said Celsius.
Peer-to-peer marketplace Paxful will refund its Earn program users impacted by Celsius Network's bankruptcy.
Should they opt in to the deal, Celsius customers cannot “pursue any litigation, including seeking relief from the automatic stay, turnover, or other claims or causes of action.”
Software developer Cam Crews compiled data showing almost $102 million being filed with the courts and $42 million estimated to be filed eventually.
Wrapped Bitcoin garnered DeFi traders' support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions.
Celsius creditors have filed a proposal to sue Alex Mashinsky, while creditors of FTX are turning their attention to the exchange's venture backers.
The judge’s ruling does not require Celsius debtors to sell the Bitmain coupons, but they would need the consent of the committee of unsecured creditors.