Crypto firm Celsius' business model different from what it advertised: US bankruptcy examiner
"Celsius did not "deliver" on the promises surrounding its native CEL token."
Source: dealstreetasia.com
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Crypto collapse spurs calls for new rules to crack down on abuse
The court clashes vindicate skeptics like Sen. Elizabeth Warren and SEC Chair Gary Gensler, who warned that small investors were vulnerable.
Source: politico.com
Crypto Lender Celsius Propped Up Its Token, Benefiting Insiders
Bankrupt crypto lender Celsius Network used investor money and customer deposits to prop up its own token, inflating its balance sheet while two of its founders cashed out millions, a U.S.
Source: ibtimes.com
Celsius Propped Up Its Own Crypto Token With Customer Funds
Shoba Pillay, the person tapped to examine Celsius’ goings on, said that execs including Alex Machinsky had sold tens of millions-worth of its native CEL token.
Source: gizmodo.com
Global crypto firms raised $2.3b from VCs in Q4 — a two-year low
VC investments in the crypto sector for the entire 2022 were up 20% to $36.6b, show data from Cointelegraph.
Amber Group Celsius Network Venture Capital Report Three Arrows Capital Voyager Digital Shanghai Based Fenbushi Capital
Source: dealstreetasia.com
Ponzi Probe Finds Bankrupt Celsius Misled Customers on Its Business
Court-appointed examiner Shoba Pillay said the bankrupt Celsius Network acted as the market maker for its native token, and misled customers.
Shoba Pillay Martin Glenn Alex Mashinsky Terms Of Service York Southern Bankruptcy Court Celsius Network
Source: businessinsider.com
Celsius spent customer money to prop up token while insiders bailed: report
CEO Alex Mashinsky reaped $68.7 million in gains while insiders bailed
Source: crainsnewyork.com
Lost your crypto amid Chapter 11 bankruptcy filings? You're probably not getting it back
Legal experts say unsecured creditors shouldn't expect much following a number of Chapter 11 bankruptcy cases in the crypto space
Source: techcrunch.com
BlockFi Secures Approval for Crypto Mining Business Auction
Embattled crypto-centric company BlockFi looks to auction off its mining equipment amid its ongoing bankruptcy case.
Nigeria General Francis Petrie Michael Kaplan Exchange Commission Ankura Trust Company Blockfi Mining Auction Development Follows November Insolvency
Source: coinspeaker.com
Cryptocurrency lender Celsius was "insolvent since inception"
An investigation into Celsius found its collapse was about much more than just the price of Bitcoin.
Source: qz.com