Faillissement
Crypto Lender Celsius Files 2 New Lawsuits in Attempt to Recover Funds
Crypto lender Celsius Network has filed two new lawsuits in an attempt to retrieve lost funds. Ropes & Gray Business Restructuring Associate Daniel Gwen discusses what this means for Celsius and its creditors and customers.
Alleged Tornado Cash Developer Must Stay in Jail; Judge Approves Voyager Paying 'Retention' Bonuses
Alexey Pertsev, accused of facilitating money laundering via now-sanctioned Tornado Cash, must stay in jail for at least 90 more days, a Netherlands judge ruled Wednesday. Crypto-focused venture capital firm Electric Capital has named former SEC Chairman Jay Clayton as an adviser, according to Bloomberg. A U.S. federal judge ruled crypto lender Voyager Digital, which is undergoing bankruptcy proceedings, can pay more than 30 employees a collective $1.6 million as a "retention" award.
‘Not Unusual’ for Voyager to Pay Employees Retention Bonuses, Restructuring Expert Says
A U.S. federal judge ruled in Voyager’s bankruptcy hearing Wednesday the crypto lender can pay more than 30 employees a collective $1.6 million as a “retention” award. Ropes & Gray Business Restructuring Associate Daniel Gwen discusses the key takeaways from the hearing, explaining why this is “customary” and “not that unusual.”
Crypto Advocate Michelle Bond Loses Primary Bid for Congress
Michelle Bond lost her primary bid to be the Republican congressional candidate for her New York district. CoinDesk's Global Policy & Regulation Managing Editor Nikhilesh De discusses what this means for crypto candidates across the country. Plus, what to expect from Voyager's bankruptcy hearing.
Celsius CEO Alex Mashinsky Owes Transparency to Creditors, Says Legal Expert
Hodder Law Firm Founder Sasha Hodder discusses crypto lender Celsius Network’s Chapter 11 bankruptcy proceedings and the “need” for CEO Alex Mashinsky to clarify what the firm owes to its creditors. “Mashinsky hasn’t provided the transparency that, really, he owes everyone,” Hodder said. “We need more transparency.”
DOJ Calls for Examiner to Probe Bankrupt Crypto Lender Celsius
The U.S. Trustee office, which oversees bankruptcy matters, said an independent probe into Celsius' financials is needed to address "significant transparency issues" in the crypto lender's bankruptcy case, according to a court filing Thursday. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the details.
DOJ Calls for Independent Examiner in Celsius Bankruptcy Case
The U.S. Trustee office overseeing Celsius’ bankruptcy proceedings has asked that an independent examiner be appointed to look into the crypto lender’s collapse into bankruptcy. Hodder Law Firm Founder Sasha Hodder discusses the legal implications of the Celsius case and the potential concerns with CEO Alex Mashinsky.
‘Consumer Business Is Dead’ for Bankrupt Crypto Lender Celsius: Expert
Celsius Network has received multiple offers to help restructure. During a Tuesday bankruptcy hearing, the company said it received several proposals to inject cash into the company and won approval from a U.S. judge to sell bitcoin (BTC) that it mines.
'Long and Arduous' Path Ahead For Crypto Lender Celsius, Says Legal Expert
The second day of Celsius Network's bankruptcy hearing is underway, with the troubled crypto lender's attorneys laying out a path forward for the company. King & Spalding LLP Partner Thad Wilson discusses his initial reactions, explaining why "the path here is going to be long and arduous for Celsius to otherwise emerge from Chapter 11."
Voyager: ‘No Customer Will be Made Whole’ Under FTX Proposal
507 Capital Partner Thomas Braziel discusses his take on FTX's proposal to offer early liquidity to customers of crypto lender Voyager, saying their best bet is to "be patient and let the bankruptcy court process run a full auction." Plus, insights into Mt. Gox's bankruptcy case of 2014 and how it differs from Voyager's, citing the benefits of the American court system.
