One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov.…
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A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29. Creditors Object…
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A website revealing personal information from Celsius creditors has created stress and chaos for many, leading some to question the privacy of centralized exchanges. Crypto lending platform Celsius filed for Chapter 11 bankruptcy on July 13, 2022. Although the Celsius case involves digital assets, it remains subject to United States Bankruptcy Code under the Bankruptcy…
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Core Scientific claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay. Crypto lender Celsius Network’s legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers…
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German crypto bank Nuri joins a growing list of crypto service providers to shutter their doors permanently amid the bear market. Three Arrows Capital. Celsius. Voyager Digital. The list of crypto bankruptcies, shutdowns and trading freezes has been endless in 2022. And the year isn’t over yet. This week, German crypto bank Nuri urged its…
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CEO Stephen Ehrlich and financial head Evan Psaropolous will keep their jobs even though they okayed a huge loan to Three Arrows Capital without sufficient due diligence. Voyager Digital has preferred not sue its top executives for incompetence, in spite of their role in approving a huge loan to Three Arrows Capital (3AC) without adequate…
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Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans…
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Judge Martin Glenn says U.K. legal principles may be “persuasive” in the absence of U.S. legal precedents in the complex case of the crypto lending platform’s bankruptcy. The lack of crypto regulation in the United States has long complicating the lives of users and service providers, and now a judge has acknowledged the pain the…
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The Texas state authorities, SSB and DOB, argued that Voyager fails to explain the methodology used to calculate the average coin prices, among others. The Texas State Securities Board (SSB) and the Texas Department of Banking (DOB) raised an objection in court against Voyager Digital’s disclosure statement, questioning the various methodologies and calculations used to…
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The data of thousands of Celsius customers revealed in court also included its executives showing millions withdrawn from the platform in the weeks before it was suspended to the public. Publicly available court documents related to Celsius’ bankruptcy proceedings have revealed data concerning thousands of its customers in a financial disclosure form filed on Oct…
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