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The counsel representing Celsius’ official creditor committee has denied assertions that the bids for Celsius’ crypto assets have been rejected.During a Jan. 31 Twitter Space “town hall” following the examiner’s report on Celsius, attorneys from White & Case LLP, Gregory Pesce and Aaron Colodny, addressed the so-called “leaked” bids for Celsius’
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Summa founder James Prestwich has accused the $382 million LayerZero bridging protocol of hosting a “critical vulnerability.” According to a Jan. 30 post by Prestwich, this vulnerability “could result in theft of all user funds.” LayerZero CEO Bryan Pellegrino has called Prestwich’s accusation “absolutely shocking” and “wildly dishonest,” claiming that the
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“A trusted-party vulnerability (also called a ’backdoor’) is an undisclosed capability of a trusted party, that can compromise the function of the system,” Prestwich explained in a tweet outlining his findings. According to Prestwich, LayerZero has the ability to unilaterally steal or move around funds locked up with platforms that
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The United State Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia had an “insufficient” management framework and cited an
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Claimants argue that Celsius bever mentioned anything about transferring ownership and control of assets to debtors.In what could be setting a major precedent, the United States Bankruptcy Court in the Southern District of New York has dismissed the claims of three users of the bankrupt crypto lender Celsius Network. According
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A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December.The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which characterized Circle as having “blamed” the securities
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A judge overseeing bankruptcy proceedings for crypto lending firm Celsius Network has denied motions from three users with different claims on assets stuck since July.In orders filed with United States Bankruptcy Court in the Southern District of New York on Jan. 25, Judge Martin Glenn denied a motion from Rebecca
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Prosecutor General spokesperson for Bulgarian police denied any political agenda behind the recent raids on Nexo’s office in Bulgaria.Last week, the Bulgarian police raided Nexo’s office in a probe over alleged tax evasion and money laundering. The news about the Nexo investigation comes within a month of its exiting the
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Top Stories This Week Sam Bankman-Fried: ‘I didn’t steal funds, and I certainly didn’t stash billions away.’ In a “pre-mortem overview” of FTX’s bankruptcy, Sam Bankman-Fried denied allegations of improper use of customer funds stored with the crypto exchange, attributing
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Crypto exchange Uphold has denied owing around $784 million to the liquidation trust of bankrupt crypto investment platform Cred.At a court hearing on Jan. 11, Uphold filed a motion to dismiss all counts in the suit served against the firm by Cred in June 2022.Cred was a crypto lending service
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