Bankruptcy
Bernstein: Bitcoin Underperforming Against Rivals; Vermont Regulator Alleges Celsius Misled Investors
Investment firm Bernstein wrote Tuesday that bitcoin (BTC)’s correlation with other tokens will weaken as its dominance declines. Vermont authorities allege crypto lender Celsius Network misled investors about its financial health.
Legal Expert: Not Enough Money to Go Around Celsius
As a new cashflow statement comes to light in Celsius Network's third bankruptcy hearing, Hodder Law Firm Managing Partner Sasha Hodder says the crypto lender just does not have "enough assets to go around." She adds that this will be particularly damaging for its Earn program customers. Plus, is Celsius still on track to run out of money by October?
Celsius’ Third Bankruptcy Hearing: Who Should Get Their Money Back?
CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De breaks down Celsius’ third bankruptcy hearing on Thursday which focused on whether custodial account holders should be able to get their funds back.
Mt. Gox to Set Creditor Repayment Date in ‘Due Course’; Celsius Files to Return Custody Clients’ Funds
The distribution of funds to former customers of defunct crypto exchange Mt. Gox will begin on a repayment date to be set in “due course.” Two Georgia-based bitcoin mining facilities used by Compass Mining are closing amid soaring local power costs.
Crypto Lender Celsius’ Bankruptcy Case Back in Court as Hearings Continue
CoinDesk Global Policy & Regulation Managing Editor Nikhilesh De discusses the latest legal developments surrounding crypto lender Celsius and a preview of today’s hearing in the ongoing bankruptcy proceedings.
NFT Markets Aren’t Immune to ‘Spooked’ Buyers: Quadency CEO
NFT platform Opensea saw daily trading volume plummet by 98% since its peak. Quadency founder and CEO Rosh Singh says “people are spooked” by the cascading bankruptcies and liquidity crisis in the broader crypto markets.
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.
