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The regulator takes issue with the startup’s language regarding interest earned on certain crypto accounts that Celsius dubs “rewards” or a “financing fee.” The regulator is alleging Celsius’ interest-bearing accounts violate state securities law and fail to disclose to customers what occurs with their deposits, nor are the customers protected
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A news release published by the New Jersey government web portal indicates that the cryptocurrency lending platform Celsius has been sent a cease and desist order from the New Jersey Bureau of Securities. Furthermore, the Texas State Securities Board has ordered Celsius to appear at a hearing and is also
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Hackers run wild, but DeFi marches on; all covered in
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Celsius, a centralized cryptocurrency lending platform, claims to have paid out over $250 million in rewards to its 415,000 users, underscoring the rapid growth of blockchain lending protocols. Celsius announced the milestone in a Monday press release, which highlighted the company’s significant growth over the past two years. “Celsius remains one
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Cryptocurrency lender Nexo has launched an exchange service for a range of digital assets within its mobile app. According to an announcement Monday, the new service provides more than 75 cryptocurrency and fiat currency pairs, with 17 cryptocurrencies supported. There are no limits on the number of exchanges a user can
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BlockFi, a major hub for crypto lending, appears to be increasing its courting of institutional bitcoin bets through a new bitcoin trust product.The trust, revealed in Friday regulatory filings, could put BlockFi in direct competition with Grayscale for bitcoin-friendly Wall Street investors’ attention and dollars. Grayscale’s own bitcoin trust is
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Cred’s bankruptcy has left hundreds of depositors who loaned the company more than $100 million worth of crypto wondering if and when they’ll get their money back. The company’s bankruptcy filing primarily blames its woes on alleged fraud by an outside investment manager whom Cred entrusted with 800 BTC, worth a
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In October, the lender published a cryptic letter saying that it has experienced “irregularities” in the handling of “specific” corporate funds by a “perpetrator of fraudulent activity.” Source
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If granted, the charter would replace the blockchain-based lender's hodgepodge of state licenses with a single nationwide regulator. Source
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