News

Crypto Lender Celsius to Be Acquired by Novawulf, Exiting Chapter 11 

Coins Legend February 16, 2023 0

Crypto lender Celsius’ committee of unsecured creditors has chosen the digital asset investment firm Novawulf Digital Management to sponsor the company’s reorganization plan, according to a statement published on Wednesday. The proposed agreement would enable Celsius to exit the Chapter 11

News

Bankrupt Celsius Aims to Raise $14.4 Million From Bitcoin Mining Rig Credits and Coupons

Coins Legend February 11, 2023 0

Defunct cryptocurrency lender Celsius aims to secure more than $14 million from credits and coupons backed by Bitmain, according to an interim CEO Christopher Ferraro in a bankruptcy court filing dated Feb. 9, 2023. Ferraro stated in the filing that the “coupons currently provide no utility to the debtors’ mining business.” Celsius Interim CEO Outlines […]

Exchanges

Coinbase Confirms ‘No Financing Exposure’ to Bankrupt Crypto Firms Celsius, Voyager, Three Arrows Capital

Coins Legend July 22, 2022 0

Crypto exchange Coinbase has confirmed that the company “had no financing exposure” to bankrupt firms, including Celsius Network, Voyager Digital, and Three Arrows Capital (3AC). “The issues here were foreseeable and actually credit-specific, not crypto-specific in nature,” Coinbase stressed. Coinbase: ‘We Have Not Engaged in These Types of Risky Lending Practices’ The

News

Keyfi Founder Sues Celsius — Says Crypto Lender’s Entire Portfolio Had ‘Naked Exposure to the Market’

Coins Legend July 8, 2022 0

On July 7, 2022, the pseudonymous non-fungible token (NFT) collector known as “0xb1” published a Twitter thread that discusses the collector’s true identity and his relationship with the crypto lending firm Celsius. According to 0xb1, otherwise known as Jason Stone, his team found “major problems in how the company operated,” and Stone told Celsius his […]

News

Celsius Stories Littered With ‘People Familiar With the Matter’ Sources, Report Claims Lender Struggles With Arguments Over Bankruptcy

Coins Legend June 28, 2022 0

The embattled crypto lending platform Celsius has kept withdrawals and transfers frozen since June 12 and told the Celsius Network community that the “process will take time.” Since then, Celsius users are wondering why they are still receiving weekly rewards, and reportedly the company’s management has been arguing with its lawyers over whether or not […]

News

Report: Goldman Sachs Looks to Buy Distressed Assets From Celsius, Crypto Lender Seeks Restructuring Advice

Coins Legend June 25, 2022 0

After the crypto lending platform Celsius halted operations on June 12, at 10:10 p.m. (ET), two days later the Wall Street Journal (WSJ) quoted “people familiar with the matter” who said Celsius was hiring restructuring lawyers. At the time, the WSJ said Celsius was looking to hire the bankruptcy and restructuring law firm Akin Gump […]

Regulation

SEC, State Regulators Probe Crypto Lender Celsius Over Accounts Freeze

Coins Legend June 18, 2022 0

The U.S. Securities and Exchange Commission (SEC) and several state regulators are reportedly investigating the decision by crypto lender Celsius Network to freeze withdrawals. U.S. Securities Regulators Investigate Celsius’ Withdrawal Freeze The U.S. SEC and securities regulators in Alabama, Kentucky, New Jersey, Texas, and Washington are investigating the decision by

News

Report: Celsius Hires Citigroup to Help the Startup Find ‘Potential Financing’

Coins Legend June 16, 2022 0

According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.” Sources Say Celsius Is Looking for […]

News

Report: Celsius Seeks Help From Restructuring Lawyers Over Financial Hardship

Coins Legend June 15, 2022 0

Following the rumors and speculation surrounding the crypto lending firm Celsius, a Wall Street Journal report, quoting “people familiar with the matter,” explains that the company is reportedly hiring restructuring lawyers. Basically, hiring restructuring and insolvency attorneys is one of the first stages of fixing a company’s financial hardship by essentially attempting

News

Celsius Insolvency Rumors Swirl After Company Pauses Withdrawals, Nexo Offers to Buy Firm’s Assets

Coins Legend June 13, 2022 0

On Monday, June 13, 2022, the crypto economy dropped below the $1 trillion region, as a great majority of crypto assets have lost between 10% to 25% during the last 24 hours. Meanwhile, the crypto community has been discussing the cryptocurrency lending application Celsius as rumors of insolvency have been swirling. On June 12, around […]