Tuesday, October 4, 2022
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Ex-CEO of Bankrupt Crypto Lender Celsius Withdrew $10M Weeks Before Company Froze Customer Accounts: Report

A Mashinsky spokesperson, cited by the paper, said that the entrepreneur had disclosed to an unsecured creditors committee (UCC) in the bankruptcy proceedings that he and his family had $44 million in crypto frozen with Celsius following the withdrawal. The spokesperson said that Mashinsky "'withdrew a percentage of cryptocurrency in

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Crypto Lender Celsius Shouldn’t Reopen Custody Withdrawals, US Trustee Says

The company's motion to reopen withdrawals would only apply to customers holding “pure custody assets,” which Celsius has failed to define. The objection claims that distributing funds to a limited group of customers without a full understanding of the company’s crypto holdings, its debts, and the transfers between its various

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More Than a Half Dozen US Securities Regulators File Actions Against Crypto Lender Nexo – Regulation Bitcoin News

Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws. Nexo Targeted by Several Securities Regulators Over the Crypto

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California, New York Join Several States Ordering Crypto Lender Nexo to Halt Yield Product

The states – also including Washington, Maryland, Kentucky, Oklahoma, South Carolina and Vermont – filed individual actions targeting certain yield-producing accounts at Nexo. The lender advertises the accounts as "high-yield," and California noted the company offered annual interest rates as high as 36%. Original Source

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Troubled Data Center Compute North Struggled With Crypto Winter. Then Its Relationship With a Major Lender Soured

In July, the lender asserted several “technical events of default,” which led to taking control of Compute North assets. Generate Capital exercised its voting rights to take over Compute North subsidiary that owned the two bitcoin mining sites the two firms were developing. That included the Wolf Hollow site in

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Examiner Appointed to Celsius Bankruptcy Case, Crypto Lender Files for Access to $23M in Stablecoins – Bitcoin News

According to a recently leaked recording stemming from the bankrupt crypto lender Celsius, the business is attempting to revive the company after falling into a financial burden. Following the leak, a Southern District of New York bankruptcy judge appointed a third-party examiner to review the company’s finances. Celsius is also

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