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Crypto lending firm Celsius Network, which is currently in Chapter 11 bankruptcy proceedings, has asked the court for authorization to sell its stablecoin holdings in order to generate liquidity to help fund its operations, according to new court filings. Source
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According to statements made by the digital asset custody business and financial services provider Bitgo, the firm has filed a lawsuit against the crypto company Galaxy Digital and is seeking damages for more than $100 million. Bitgo says Galaxy’s “improper repudiation and intentional breach of its merger agreement” caused the
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MicroStrategy's stock has, as a result, become tethered to the price of bitcoin – resulting in a $1.2 billion loss on the bitcoin bet given this year's plunge. But the shares surged 12% Friday as bitcoin jumped almost 10%. The stock fell about 1.5%, though, in after-hours trading following the
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Canadian cryptocurrency exchange Coinberry has filed a lawsuit against 50 users who collectively withdrew 120 bitcoins following a software error in 2020. Source
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American music giant Sony Music Entertainment has signaled intentions to utilize non-fungible tokens (NFTs) after filing a trademark application covering music and artists under the Columbia Records logo. According to an Aug. 30 trademark application to the United States Patent and Trademark Office (USPTO) shared by trademark attorney Mike Kondoudis on Sept.
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Thailand's Securities and Exchange Commission filed a police complaint against cryptocurrency exchange Zipmex and its CEO, Mr. Eklarp Yimwilai. Original Source
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Beleaguered crypto lender Celsius Network has filed a motion with the United States Bankruptcy Court yesterday to allow customers with digital assets held in certain accounts to be withdrawn. There’s a catch, however, as the motion will only apply to Custody and Withold Accounts and for custodied assets worth $7,575 or
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According to the filing, Celsius has about 58,300 users who collectively deposited over $210 million with its custody and withhold, with 15,680 customers holding "Pure Custody Assets" worth around $44 million. The Bankruptcy Court for the Southern District of New York, which is overseeing the case, scheduled a hearing for
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In the wake of allegations made by Crypto Leaks, high-profile crypto lawyer Kyle Roche has filed to withdraw as counsel on several crypto class-action lawsuits.According to a series of court records released on Aug. 31, Roche is understood to be “no longer involved” in Roche Freedman’s class action practice. The law
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