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“Sealing information such as that sought by the Debtors [Celsius] from public disclosure risks transforming the open and transparent bankruptcy process into something very different, which the Court is loath to do without a strong showing of real and not speculative risks,” Judge Glenn wrote in a September court filing. Original
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Crypto lending platform Celsius filed for Chapter 11 bankruptcy on July 13, 2022. Although the Celsius case involves digital assets, it remains subject to United States Bankruptcy Code under the Bankruptcy Court for the Southern District of New York. While this may be, a series of unusual events have ensued since
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The crypto community is upset about a recent discovery stemming from the Celsius bankruptcy case as a court filing has revealed over 14,000 pages of the usernames and trading histories of the company’s customers. While the file does not disclose personal information tied to the user’s finance providers or the
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Over a dozen other executives, including the company’s Chief Compliance Officer, Oren Blonstein, Chief Risk Officer Rodney Sunada-Wong and new CEO Chris Ferraro did not make any significant withdrawals during that time period, according to the document, one of several filed to the Bankruptcy Court for the Southern District of
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Ex-CEO Alex Mashinsky, ex-CSO Daniel Leon and CTO Nuke Goldstein pulled bitcoin, ether, USDC and CEL holdings from their custody accounts in May, before the company suspended all customer withdrawals. Original Source
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Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy.The withdrawal was cited by sources from the Financial Times who said Mashinsky withdrew the funds in “mid to late May” prior to
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Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter
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“Not only is the UCC [Unsecured Creditors Committee] laser focused on maximizing value for the customers, without regard for the Equity Holders, but the Debtors also have made it abundantly clear that the UCC is their partner, and these cases are all about the customer,” the statement said. Original Source
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The state’s move continues a trend of state-level regulators moving faster than the feds on regulating crypto. Source
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