Celsius Network Begins Next Round of $220 Million Creditor Payment
Celsius Network begins third $220M creditor payout, completing 64.9% of claims. Repayments include crypto and cash through multiple platforms.
Former Celsius CEO Alex Mashinsky Fights to Delay Prison Sentence Amid Legal Battle
Federal prosecutors have rejected Mashinsky’s request for more time, labeling it premature. However, they are open to a brief delay of one week.
Celsius Creditors Explore Liquidation of Ionic Digital as It Faces Delays in Public Listing
Creditors of Ionic Digital, a crypto mining firm linked to Celsius, are considering liquidating the company due to delays in its public listing plans.
Celsius Network Distributes Over $2.5B to Two-Thirds of Creditors
In a Monday court filing, the Celsius Network administrator clarified that “approximately 64,000 of these remaining creditors have a distribution of less than $100, and approximately 41,000 more have a distribution of between $100 and $1,000”.
Celsius Agrees to Liquidate Tokens and Rare NFTs in Settlement with KeyFi Founder
This settlement marks the conclusion of a protracted legal battle between Celsius and Jason Stone.
Celsius Mining Assets Find New Life as Ionic Digital Gears Up for Takeover and IPO
By acquiring all of Celsius mining equipment and infrastructure, Ionic Digital believes it can quickly reach its goal of total mining power of 12.7 exahash per second (EH/s) later this year.
Celsius Exits Bankruptcy, Begins $3B Repayment to Creditors
Celsius said it will initiate a controlled wind-down of operations by February 28, 2024. The crypto lender will discontinue its mobile and web applications.
Celsius CEO Requests to Drop Two Charges Linked to Fraud and Manipulation
The court filing contends that the government’s handling of cryptocurrencies creates an inconsistency and contradiction between the second count of commodities fraud and the first count of securities fraud.
Celsius Network to Unstake Ethereum for Asset Distribution amid Restructuring
Blockchain analytics firm Nansen reports that almost a third of the ETH in the pending withdrawal queue belongs to Celsius, totaling 206,300 ETH valued at approximately $468.5 million at current prices.
Bitcoin Miner Hut 8 Agrees to Build New Site for Celsius Creditors
The deal with Hut 8 comes after Celsius recently obtained approval from the bankruptcy court to transition into a Bitcoin mining entity that creditors will solely operate.
Celsius Network Allows Withdrawals for Qualified Custody Clients
Celsius also advised customers to make use of its mobile app for the withdrawal, stating the app would only be available for a limited time.
Celsius Faces Heat from SEC in Its Bankruptcy Revival Plan
Celsius Network has received court approval to transform itself into a Bitcoin mining company, owned by its creditors, as part of a comprehensive strategy to repay account holders whose funds have been inaccessible for over a year.
Celsius CEO Alex Mashinsky to Start Facing Trial in September 2024
Until the trial proceeds next September 2024, Mashinsky will remain free on $40 million bail, however, will continue to face travel and financial restrictions.
Celsius Network Seeks Court Approval to Repay Creditors by Year End
Celsius Network filed for Chapter 11 bankruptcy protection in April 2022, hoping to restructure its debt and find a buyer for its assets.
Celsius Network Valuation Consultant Approves Value of Debtors’ Assets and Liabilities
By Tolu Ajiboye
Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens.