Follow Celsius news, including bankruptcy proceedings, creditor updates, legal rulings, restructuring efforts, and fallout across crypto markets.
A group of borrowers have filed a motion arguing that in order to maintain transparency and unbiased assessment of Celsius' financials, a chapter 11 Trustee should be appointed.
Christian Nwobodo 2 min read 
Celsius expects to receive extra $70 million in loan repayment by Oct. 7 and retain over $42 million by the end of November.
The firm has filed a petition to allow eligible customers to withdraw assets from its custody program and Withhold accounts.
The creditors are basing their claim on the fact that their funds were held in Celsius' custodial account and not the Earn program.
Celsius hits back at Jason Stone claiming he used client funds to buy CryptoPunks while losing 30,000 ETH in a bad DeFi trade.
Alex Mashinsky allegedly ordered the trading team to sell hundreds of millions of dollars worth of Bitcoin, causing Celsius a $50 million loss.
A Ripple spokesperson reportedly said the firm was interested in looking for M&A opportunities to scale its business.
Celsius CEO Alex Mashinsky is accused of promoting false information about the safety of users' funds at the brink of the bankruptcy.
Celsius withdrew its motion to hire former CFO Rod Bolger as a consultant after hundreds of disgruntled investors wrote letters to the court.
