Cryptocurrency Analysis and News Portal
Bankrupted crypto lender Celsius Network reached two settlements that allows it to return assets to customers and end its bankruptcy proceedings, according to court filings on July 20. The settlements will be analyzed by Judge Martin Glenn at a hearing on August 10 and address $78.2 billion in unsecured claims. Any
Read More
Bankrupt crypto lender Celsius is battling a Chapter 11 bankruptcy with billions of dollars in claims made by various parties. A new estimate by the Bank of the Future (BF) suggests that the troubled crypto lender could likely repay the USD claims if the price of Bitcoin and Ether, the
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The bankrupt crypto lending firm Celsius has filed a motion seeking relief for the distribution of funds resulting from the sale of GK8, a self-custody platform. The settlement, agreed upon by the debtors, the creditors’ committee,
Read More
The XRP ruling could impact creditor repayments for holdings of Celsius’ token CEL, given U.S. bankruptcy rules which apply a mandatory downgrade to customer claims relating to securities. The estate has previously judged the token’s worth at $0.20, but it could also fall to zero, Koenig said, while some creditors
Read More
Bankrupt cryptocurrency lending firm Celsius has requested the court to grant relief in the motion related to the distribution of funds from its sale of the self-custody platform GK8.The Celsius Network’s debtors on July 17 submitted a filing stating that its Series B holders have agreed on a settlement to
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Celsius Network, which filed for bankruptcy in 2022, is selling its crypto holdings as the broader market recovers, partly due to Ripple’s win against the US Securities and Exchange Commission (SEC). Data provided by Lookonchain shows that Celsius
Read More
Bankrupt crypto lender Celsius, its creditors, and its Series B holders have agreed on a settlement to distribute $25 million from the proceeds of the sale of GK8 to the shareholders, with $24 million allocated for legal expenses and $1 million to be distributed amongst the group. Source
Read More
The U.S. bankruptcy court granted the crypto lender permission to sell its altcoin holdings for BTC and ETH starting in July. Source
Read More
The Financial Stability Board (FSB), which groups regulators from some two dozen jurisdictions, including the U.S., EU, China and the U.K., published recommendations to ensure “consistent and comprehensive” regulation of the sector. The recommendations build on proposals originally floated in October and are focused on preventing the kind of behavior
Read More
Top Stories This Week Judge rules XRP is not a security in SEC’s case against Ripple Ripple Labs scored a victory in a district court in New York on July 13, with Judge Analisa Torres ruling partially in favor of
Read More