Facing numerous crossroads, FTX.US President Brett Harrison decides to make a company exit, surprising staffers but not FTX chief SBF who said that his move had been "in the works for a while."
Intense scrutiny awaits Celsius with the U.S. court's approval to hire an examiner to look into its dealings, which comes amid optimism that the company could recover from the brink of bankruptcy.
The Vermont securities regulator has filed a motion in support of appointing an independent examiner in which it tore into Alex Mashinsky’s model at Celsius.
Celsius wants to only return funds to customers who hold assets in Custody and Withhold accounts, leaving out anyone who participated in the lending program.
The risks of investing in the digital currency industry remain high as Fed continues to tighten its policies to counter inflation, while fear spreads among potential investors caused by manipulative platforms.
KeyFi founder Jason Stone, who managed billions for Celsius, sued the lender over reckless risking of customer funds, but Celsius is countersuing him for theft.
Offering unregistered securities, failing to hedge against volatility, and making risky investments bear the hallmarks of incompetence, the gov’t trustee says.
The Quebec and Ontario securities watchdogs have joined the probe, with the former especially concerned about the fate of a $150 million investment in Celsius.
More troubles loom for digital assets firms like Celsius Network and Binance; meanwhile, Dubai launches its new 'metaverse strategy' that aims to open 40,000 virtual jobs by 2030.
The Vermont watchdog also accused Celsius of offering unregistered securities even as a new FT report shows that Celsius openly gambled with investor money.
Monday’s hearing in the Southern District of New York also revealed that Celsius’ proposed pathway to recouping its massive losses depend on the success of its wholly owned digital currency mining subsidiary, Celsius Mining.
Celsius Network has an estimated 100,000 creditors and has $12 billion under management as of May 2022, although it's unclear what its exact financial position is as of the announcement.
