An Ethereum (ETH)-based altcoin ranking among the top 100 crypto assets by market cap is up by triple digits over the past 30 days. Celsius Network (CEL), a utility token on the Ethereum blockchain for the beleaguered centralized finance platform by the same name, is up by 223% since July 12th when the token closed […]
The post Ethereum-Based Altcoin Explodes 750% in Just Two Months, Outrunning Bitcoin and Crypto Markets appeared first on The Daily Hodl.
The chief executive of embattled crypto lending platform Celsius (CEL) is reportedly under investigation by a committee representing its users. A new official mission statement from the committee of unsecured creditors claims Celsius customers were repeatedly misled by CEO Alex Mashinsky about the safety of their funds and the firm’s business model. “Those claims were echoed […]
The post CEL Token Soars As Committee Representing Celsius Users Pledges To Investigate CEO Alex Mashinsky for Wrongdoing appeared first on The Daily Hodl.
A former Celsius executive has alleged that the crypto lending firm may have been negligent in various ways leading up to its ultimate bankruptcy. According to a new report by CNBC, Celsius’ former director of financial crimes compliance Timothy Cradle says that the embattled company was allegedly neglecting compliance laws and manipulating the price of […]
The post Former Celsius Executive Alleges That the Firm Was Manipulating CEL Token and Neglecting Compliance: Report appeared first on The Daily Hodl.
The embattled crypto brokerage Celsius Network (CEL) is outlining steps it will take to repay its customers. In a first-day presentation to the United States Bankruptcy Court for Southern District of New York, Celsius says it will offer its customers the choice to “recover either cash at a discount or remain ‘long’ crypto.” The lending firm […]
The post Celsius Users Will Have Option To Get Cash at a Discount or ‘Remain Long’ on Crypto: Bankruptcy Management Firm appeared first on The Daily Hodl.
A troubled crypto brokerage that recently filed for bankruptcy says they are owed hundreds of millions of dollars by a US-based private lending firm. According to a new report by the Financial Times (FT), Alex Mashinsky, the chief executive officer of Celsius Network, said in a court filing on Thursday that an unnamed lending service […]
The post US-Based Lending Firm Owes $439,000,000 to Embattled Crypto Firm Celsius: Report appeared first on The Daily Hodl.
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 the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that two people familiar with the matter allege […]
Centralized finance (CeFi) platform Celsius Network is revealing plans to compensate users whose funds are still unavailable for withdrawal. In a United States Bankruptcy Court Southern District of New York filing, the platform says it has total assets of $4.3 billion and total liabilities amounting to $5.5 billion. Celsius Network, which recently filed for bankruptcy, says […]
The post Celsius Network Reveals Plans To Compensate Depositors Despite Massive $1,190,000,000 Balance Sheet Deficit appeared first on The Daily Hodl.
The walls are closing in around one embattled crypto lending platform as a new lawsuit alleges it defrauded investors. Celsius Network, which filed for bankruptcy this week, has now also been sued with accusations that it operated like a Ponzi scheme. In a class action suit filed in a US district court in New Jersey […]
The post Class Action Lawsuit Accuses Troubled Crypto Exchange Celsius of Running Like a ‘Literal’ Ponzi Scheme appeared first on The Daily Hodl.
During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto […]
Crypto lending firm Celsius is voluntarily filing for Chapter 11 bankruptcy weeks after its native asset plummeted by more than 99%. According to a new press release, Celsius is filing bankruptcy to undergo a restructuring process in an attempt to stabilize the business and maximize value for stakeholders. As stated by Celsius co-founder and CEO […]
The post Embattled Crypto Firm Celsius Files For Chapter 11 Bankruptcy appeared first on The Daily Hodl.
