Now-defunct crypto lender Celsius Network has caused a stir with changes in its ETH staking strategy, exacerbating the already elongated queue to activate new validators on the Ethereum network. Over a period of two days, Celsius transferred ETH into staking contracts after redeeming nearly $813 million of staked ETH from Lido Finance. The company has…
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Bankrupt crypto lender Celsius Network LLC has chosen Fahrenheit as its winning bid, which will provide the capital and team to operate a new company. Fahrenheit, which consists of a group of crypto firms, was selected as the winning bid on Thursday morning, according to a press release. The Blockchain Recovery Investment Consortium, or BRIC, was…
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The now-bankrupt crypto lender Celsius Network may get a second chance with the help of Wall Street investment giants. According to a Wall Street Journal article from Thursday, two groups of investment heavyweights are currently engaged in a bidding war for what remains of Celsius, close to a year after the lender filed for bankruptcy…
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The bankrupt crypto lender Celsius Network has staked close to $75 million worth of ETH via the staking service Figment, on-chain data has revealed. The massive transfer from Celsius to Figment was made via fourteen separate transactions made between May 10 and 12, and totaled some 40,928 ETH or about $74.5 million by Tuesday’s exchange…
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Apollo Global Management is reportedly part of a bid by crypto investment firm NovaWulf to acquire the bankrupt crypto lender Celsius Network. On April 30, Celsius named several companies interested in buying the lender, including NovaWulf, Fahrenheit LLC, and the Blockchain Investment Recovery Committee…. Read More: Bankrupt Crypto Lending Firm Celsius Targeted for Acquisition by…
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Core Scientific has rejected a multi-million-dollar administrative claim from Celsius Network, arguing it’s owed an even higher amount from the crypto lender. Bankrupt Bitcoin (BTC) mining firm Core Scientific has objected to paying a $4.7 million administrative claim put forward by crypto lender Celsius Network, leading to a battle between the firms over contractual obligations.…
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Celsius Network co-founder and former CEO Alex Mashinsky has denied any wrongdoing and shrugged off blame for the collapse of the crypto lender. In a Tuesday filing, Mashinsky’s lawyers called claims by New York Attorney General Letitia James that he misled investors about the financial health of Celsius while he was chief executive “baseless” and rooted…
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Custody account holders with the now-bankrupt crypto lender Celsius will be able to get back 72.5% of their holdings, as long as they agree to a settlement plan. The settlement plan has now been approved by Judge Martin Glenn in the US Bankruptcy Court for the Southern District of New York, and was shared with…
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The bankrupt cryptocurrency lender, Celsius Network, is reportedly pursuing more bids and exploring new buyers despite having an offer on the table. During a bankruptcy court hearing in Manhattan, Celsius attorney Chris Koenig said the company remains open to better offers, per a report by Reuters. He added that the lender’s official unsecured creditors committee (UCC) met…
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