Browsing:Celsius

Celsius Network has sparked market activity by transferring more than $1 billion in Ethereum (ETH) to exchanges
3 months ago 1 min read

Celsius Network transfers over $1 billion in Ethereum to exchanges, possibly for creditor repayments

Celsius Network, a crypto lender, has sparked market activity by transferring more than $1 billion in Ethereum (ETH) to exchanges such as Coinbase, Paxos, and FalconX. This transaction, totaling 459,561 ETH, continues Celsius’ trend of large fund transfers, raising concerns about its intentions. Celsius sent 300,000 ETH to Coinbase Prime, with additional funds going to Paxos and FalconX. Spot on Chain, a crypto analysis firm, revealed that Celsius has been on a fund-moving spree, transferring a total of 740,321 ETH (around $1.69 billion) to exchanges since November 2023. Despite these substantial transfers, Celsius still has 62,468 ETH worth approximately $139

Over $125 million in Ethereum was transferred to major crypto exchanges
3 months ago 1 min read

Celsius Network Shifts Ethereum Worth Over $125 Million Ahead of Debts Payment

With its recent approval from a New York Court to repay a staggering $2 billion in debts, Celsius Network has taken center stage in the ever-changing crypto landscape. This action sparked a wave of asset transfers, attracting the attention and speculation of the crypto community. With the court’s approval, Celsius Network is preparing to repay its debts by returning around $2 billion in Bitcoin, Ethereum, and shares in a crypto mining company. This strategic move aims to reestablish financial stability and rebuild trust in the crypto community. Recent Arkham Intelligence reports highlight Celsius Network’s significant asset movements, particularly in Ethereum.

Customers of the bankrupt crypto lender Celsius Network are now in hot water as bankruptcy managers pursue legal action against them
3 months ago 2 mins read

Bankrupt Crypto Lender Celsius Network Asks Creditors To Return 27.5% Of Funds

Customers of the bankrupt crypto lender Celsius Network are now in hot water as bankruptcy managers pursue legal action against those who made significant withdrawals within 90 days of the company’s bankruptcy declaration. This action has left affected customers with the difficult choice of returning some of their funds or facing additional legal consequences. A recent filing, made public on Tuesday, sheds light on the legal disputes involving customers who withdrew more than $100,000 within the 90 days before July 12, 2022. These customers are now the subject of a legal dispute initiated by bankruptcy administrators, who have formally notified

Celsius accused of misleading investors, misappropriating customer funds
1 year ago 1 min read

Celsius faces criticism for allegedly misusing funds, misleading investors in bankruptcy case

Bankrupt cryptocurrency lender Celsius Network is facing allegations of misleading its investors and using new customer funds to cover outstanding withdrawals. This comes from an independent examiner appointed by the New York bankruptcy court, Shoba Pillay, a former federal prosecutor and partner at Jenner & Block law firm. Pillay was tasked with investigating the New Jersey-based lender’s operations to determine if it was operating as a Ponzi scheme. Celsius filed for Chapter 11 bankruptcy protection in July, with a court filing revealing $2.8 billion in liabilities on its balance sheet. Despite co-founder Alex Mashinsky’s claims that customers’ Bitcoin was 100%