Celsius owned the assets in Earn accounts, not the users, judge rules
Pre-bankruptcy, Celsius held $4.2 billion for 600,000 users in Earn accounts, digital assets which the judge ruled it legally owns and can sell to fund operations.
Latest Celsius Network News
Celsius founder sued by NYAG as judge rules customer deposits belong to Celsius
Among Mashinsky's many sins, chief among them is his promise to prospective investors of high yields with minimal risk reassuring that their digital assets would be "as safe as money in a bank."
Farewell to 2022… Hello 2023!
2022 witnessed the dashing dreams of BTC loyalists who called for the price to hit $100k, given their infallible plan to get rich by HODLing, while the Defi crowd got their time in the sun.
Celsius seeks to extend deadline for customers to file claims
Celsius set the initial deadline to January 3 but is now seeking to push it to early February, with those who fail to file risking losing out on distribution.
BlockFi seeks to reopen withdrawals, but there’s a catch
The defunct digital asset lender will only reopen withdrawals for Wallet Accounts, and just as with Celsius, users with interest-earning accounts won’t benefit.
Celsius Network ordered to return $44 million to customers
The $44 million was held in its custodial accounts, which, according to its Terms and Conditions, wasn’t under its ownership and interest-bearing account holders have been left out to dry.
Celsius customers given until January 3 to file claims
Customers who fail to file their claims by January 3 may not be eligible for any distribution from the case even as new reports point blame on Celsius custody.
Bitcoin Historian Kurt Wuckert Jr. talks FTX collapse on FOX Business
Bitcoin influencer and historian Kurt Wuckert Jr. joined Lisa Kennedy on FOX Business to talk about the recent FTX collapse, Sam Bankman-Fried, and what it means for the industry at large.
Celsius requests to extend submission of reorganization plan as bankruptcy proceedings heat up
Celsius said that the reorganization process was more complex than anticipated, requiring a tentative approach to achieve success.
Was Celsius a Ponzi scheme? Federal judge orders probe
A U.S. federal judge has ordered the examiner and the official committee of Celsius creditors to determine who would head the probe.
KYC sucks
As a subset of Anti Money Laundering (AML) laws and regulations, Know Your Customer places a lot of burden on companies to secure client data.
Celsius bankruptcy filing leaks tens of thousands of user details
Twitter account Crypto Vinco reported that the latest paperwork filed by Celsius in its bankruptcy proceedings revealed the names, dates, transactions, and amounts of every user on its platform.