Bankruptcy
Former CEO of Bankrupt Crypto Lender Celsius Cashes Out $960K in CEL, USDC, Data Shows
Data show that Alex Mashinsky, who resigned as Celsius’ CEO on Sept. 27, continues to move crypto out of wallets while withdrawals are suspended for customers.
Judge Ordered Independent Examiner to Produce Interim Report on Celsius
U.S. bankruptcy Judge Martin Glenn ruled that the independent examiner in crypto lender Celsius Network’s bankruptcy will need to produce an interim report detailing Celsius’ financial management and handling of customer accounts. CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down the ruling.
Independent Examiner Ordered to Produce Interim Report About Crypto Lender Celsius
The report’s findings may affect the court’s decisions about custodial accounts and preference claims.
Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy
Crypto lender Celsius Network’s bankruptcy case is entering a new phase where shareholders will be pitted against the firm’s beleaguered customers. This comes as court records show Celsius’ top executives withdrew a little over $17 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy.
Celsius’ Crypto Customers Face New Challenge in Retrieving Deposits
CORRECTION: Since publication, the reporting and headline of Celsius executives withdrawing crypto has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million.
Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy
CORRECTION: Since publication, the reporting and headline has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million.
South Korea To Invalidate Terra Founder Do Kwon’s Passport
CORRECTION: Since publication, the reporting and headline of Celsius executives withdrawing crypto has been corrected to $17 million based on documentation provided by CTO Nuke Goldstein’s lawyers, who showed that most of his apparent withdrawals were sent to other accounts at Celsius. The original headline indicated a figure of $42 million. CoinDesk's Nikhilesh De also discusses the latest developments surrounding South Korean officials announcing it would invalidate Terra creator Do Kwon's passport.
Bitcoin Miner Marathon Invested $31.3M in Bankrupt Data Center Compute North
The miner also has about $50 million in security deposits and prepayment to Compute North for hosting Marathon’s bitcoin miners.
Celsius’ Top Execs Cashed Out $17M in Crypto Before Bankruptcy
Ex-CEO Alex Mashinsky and ex-CSO Daniel Leon pulled bitcoin, ether, USDC and CEL holdings from their custody accounts in May, before the company suspended all customer withdrawals.
Celsius' Crypto Customers Face Big Obstacle in Trying to Claw Back Their Deposits
A change in the corporate structure the bankrupt crypto lender made when it was raising money last year may come under scrutiny.
