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Crypto marketplace Paxful will refund its Earn program users affected by the Celsius Network collapse in 2022, according to a Twitter thread posted on March 29 by company CEO Ray Youssef."I’ve personally taken action and will be refunding all affected Paxful users," noted Youssef, explaining that funds will be available
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After the Customer Contract Decision, the bankruptcy partner at McCarter & English, LLP, David Adler, announced that Celsius is adjusting its timetables. Apr. 28, 2023, is the new cutoff, also called the Bar Date. Because of this amendment, it is now possible for creditors to provide evidence of a claim within the allotted
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A bankruptcy judge overseeing the bankruptcy case for crypto lending platform Celsius Network has approved a settlement plan allowing custody account holders to get back 72.5% of their crypto holdings.In a March 21 hearing, United States Bankruptcy Judge Martin Glenn signed off on an agreement allowing Celsius custody account holders
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Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank. The crypto-friendly Signature Bank was shut down by New York regulators on Mar. 12 in conjunction with the United States Federal Deposit Insurance Corporation (FDIC) to
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Crypto lender Celsius Network, which is currently operating under bankruptcy protection, has established a crypto wallet with $25 million of digital assets for Celsius’ custodial account holders to withdraw, blockchain intelligence firm Arkham Intelligence said in a report. Source
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Enough progress has been made to suggest the plan to set up a new recovery corporation should be the only one on the table, Martin Glenn said Source
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Coffeezilla provides his perspective on the recent allegations surrounding the Celsius Network, highlighting the potential legal and financial implications of the controversy. In the world of finance, scandals seem to be all too common, and the recent controversy surrounding Celsius Network has caught the attention of many, including Coffeezilla. In a
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Celsius secured approval to process certain withdrawals according to several U.S. court orders in January. In February, Celsius published a list of names of users who could withdraw assets locked on the platform, with the company saying at the time it had permission from the New York bankruptcy court to
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Celsius customers participating in the company’s custody program can now withdraw their funds. However, some users are experiencing delays in processing their requests due to a backlog of pending withdrawals. After a crypto lending company Celsius froze withdrawals before filing for bankruptcy, some customers now report that they can finally withdraw
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Some Celsius customers have reported being able to withdraw funds from the bankrupt crypto firm for the first time, some 263 days after the lender froze withdrawals in the lead-up to its bankruptcy filing.According to numerous social media posts, as of Mar. 2, certain customers who held funds in Celsius’
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