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The deal is yet to be finalized as an initial deposit is expected within the next ten days. It is a good day for the embattled crypto lender Celsius Network as crypto consortium Fahrenheit LLC has won the bid to acquire the insolvent firm whose assets were previously valued at $2
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The bid, though accepted by Celsius and a committee of its creditors, must still be approved by regulators to finalize the acquisition. Months ago, Bankruptcy Court Judge Martin Glenn warned “regulatory roadblocks” could plague the sale of Celsius much like it thwarted a fellow lender’s acquisition. In April, crypto exchange
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The assets include a loan portfolio, mining rigs and infrastrsucture and cryptocurrency worth as much as $2 billion. Original Source
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Bankrupt crypto lending firm Celsius is anxious to get its staked Ether (ETH) stash back from liquid staking platform Lido which enabled withdrawals this week.Celsius initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. According to transaction data it has requested the withdrawal of 428,840 stETH
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It appears that embattled crypto lender Celsius is wasting no time in shifting its Ethereum staking tokens from liquid staking platform Lido which has just enabled withdrawals.On May 15, a transaction was identified on Celsius wallets for 428,015 stETH (Lido staked Ether) to the Lido staked Ethereum wallet. The whopping
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According to data by crypto intelligence firm Arkham Intelligence, Celsius transferred some 40,928 ETH to a crypto wallet spread through fourteen transactions between May 10 and May 12. The account is owned by Figment, who deposited the funds into staking contracts, according to Ethereum blockchain explorer Etherscan. Original Source
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Apollo Global, with $500 billion in assets under management, is looking to revamp the bankrupt Celsius Network in partnership with Provenance Blockchain. It’s nearly a year since crypto lender Celsius Network filed for bankruptcy after slipping into a liquidity crisis following the fall of the Terra ecosystem. In the latest
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Bankrupt Bitcoin (BTC) mining firm Core Scientific has objected to paying a $4.7 million administrative claim put forward by crypto lender Celsius Network, leading to a battle between the firms over contractual obligations.According to the objection, which was filed in Texas bankruptcy court on May 5, Core Scientific has asked
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The $500 billion-plus firm is involved in NovaWulf's offer for Celsius, according to a person familiar with the matter. Source
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Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals.In a May 4 announcement, Celsius said eligible users would be able to withdraw the remaining 6% of distributable custody assets from the
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