Embattled crypto lending platform Celsius is announcing a plan to distribute hundreds of millions of dollars worth of Bitcoin (BTC) and cash to its creditors. In a new thread on the social media platform X, crypto firm Celsius Network – which filed for Chapter 11 bankruptcy earlier this year – says it will hand out […]
The post Bankrupt Crypto Lender Announces Plan To Distribute $127,000,000 in Bitcoin or US Dollars to Creditors appeared first on The Daily Hodl.
The U.S. Securities and Exchange Commission (SEC) has filed settled charges against Plutus Lending LLC, operating as Abra, for failing to register the offers and sales of its crypto asset lending product, Abra Earn. The SEC also accused Abra of operating as an unregistered investment company, further complicating the firm’s regulatory standing. SEC Targets Abra […]
Ledn’s groundbreaking $50 million Bitcoin-backed loan, syndicated by Sygnum, is set to transform retail lending and institutional crypto finance.
On Aug. 20, Ledn, a digital lending platform, announced the successful acquisition of a $50 million syndicated loan backed by Bitcoin.
The Bitcoin (BTC) backed loan is syndicated by Sygnum, a global digital asset banking group with $4.5 billion in client assets.
According to a press release shared with Cointelegraph, the loan marks an industry first and will “fund the growth of Ledn’s retail lending operations.”
New York Attorney General Letitia James has secured a $50 million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were unable to withdraw when the program collapsed. Additionally, Gemini is now banned from operating any crypto lending program in […]
A wallet associated with the defunct crypto lending platform Celsius deposited $30.34 million worth of Ethereum (ETH) to Coinbase on Monday, according to the crypto tracker Lookonchain. Lookonchain also notes that Celsius deposited $5.13 million worth of ETH to the crypto exchange FalconX. Celsius’ two staking wallets still hold a total of 557,081 Ethereum worth […]
The post Celsius Wallet Deposits Nearly $36,000,000 Worth of Ethereum (ETH) Into Crypto Exchanges: On-Chain Data appeared first on The Daily Hodl.
New court documents reveal that authorities have seized assets and a house from Alex Mashinksy, the former chief executive of bankrupt crypto lending company Celsius. According to an unsealed court order, several bank accounts and a Texas home belonging to Mashinksy have been seized as the Department of Justice (DOJ) continues its criminal case against […]
The post US Court Seizes Alex Mashinsky’s Bank Accounts and Texas House: Unsealed Order appeared first on The Daily Hodl.
A New Jersey judge reportedly ruled that BlockFi owns the funds that customers transferred from interest-bearing accounts when the bankrupt crypto lender froze withdrawals last year. In November, BlockFi announced it would stop allowing customers to withdraw their funds amid uncertainties on the status of crypto exchange FTX and its trading arm Alameda Research. A […]
The post Judge Sides With Bankrupt Lender BlockFi in Dispute Over Customers’ Crypto in Interest-Bearing Accounts: Report appeared first on The Daily Hodl.
A Shiba Inu (SHIB) and Dogecoin (DOGE) competitor is announcing a new partnership with the Binance Chain’s biggest lending protocol. The team behind Floki (FLOKI) says that the crypto project is collaborating with the Venus Project, the second-largest decentralized finance (DeFi) ecosystem on the BNB Chain. The partnership will allow FLOKI holders to use their […]
The post Shiba Inu (SHIB) and Dogecoin (DOGE) Competitor Partners With Binance Chain’s Largest Lending Protocol appeared first on The Daily Hodl.
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail […]
BlockFi is demanding Bankman-Fried’s investment company turn over its shares in Robinhood as collateral it agreed to pay as part of a pledge agreement.
Newly-bankrupt crypto lending platform BlockFi has filed a lawsuit against Sam Bankman-Fried’s holding company Emergent Fidelity Technologies seeking his shares in Robinhood that were pledged as collateral earlier in November.
The suit was filed on Nov. 28 in the United States Bankruptcy Court for the District of New Jersey just hours after BlockFi filed for Chapter 11 bankruptcy in the same court.
As per the filing, BlockFi is demanding Emergent turnover collateral as part of a Nov. 9 pledge agreement that saw Emergent agree to a payment schedule with BlockFi that it has allegedly failed to pay.
BlockFi names the collateral as “including certain shares of common stock.”
In May, Bankman-Fried acquired a 7.6% stake in the online brokerage firm Robinhood, buying a total of $648 million in Robinhood shares through his Emergent investment company.
Related: FTX collapse drives curiosity around Sam Bankman-Fried, Google data shows
BlockFi is one of the latest firms to file for bankruptcy as a result of the collapse of FTX crypto exchange.
The crypto firm initially previously denied that a majority of its assets were held on FTX earlier in the month, but also acknowledged “significant exposure” to FTX.
In its bankruptcy filing, BlockFi stated that it has assets between $1 billion and $10 billion with liabilities in the same range, along with over 100,000 creditors.
