#celsius network (cel)

[pavel-nosok]

95% of Celsius Creditors Vote to Accept Restructuring Plan

More than 95% of creditors across all eligible classes voted to accept the plan, reported Celsius on September 26. It is a “testament to our collaborative efforts during Chapter 11” and a “major milestone” it added in reference to the bankruptcy proceedings. “The confirmation hearing is scheduled to begin October 2, 2023. We are hoping for swift approval to continue our path to emergence. The…

View On WordPress

[pavel-nosok]

Ex-Celsius Network Exec Cohen-Pavon Pleads Guilty

Roni Cohen-Pavon, a former executive at the bankrupt cryptocurrency lender Celsius Network, pleaded guilty to criminal charges in the United States. Notably, Cohen-Pavon has also agreed to collaborate with investigators in their ongoing investigation. Cohen-Pavon Pleads Guilty During a hearing held on Wednesday before U.S. District Judge John Koeltl in Manhattan, Cohen-Pavon confessed to four…

View On WordPress

[pavel-nosok]

FTX-Linked Crypto Custodian Prime Trust Files for Bankruptcy Protection

Prime Trust – a once-leading cryptocurrency custodian – filed for Chapter 11 bankruptcy protection in Delaware approximately two months after the Nevada Financial Institutions Division claimed it operates in an “unsafe and unsound manner.” The company was among the leaders in its field a few years ago, holding funds on behalf of other fallen behemoths such as FTX and Celsius Network. The Latest…

View On WordPress

[pavel-nosok]

Alex Mashinsky Released on $40 Million Bond, Denies Fraud Accusations (Report)

The co-founder and former CEO of Celsius Network – Alex Mashinsky – has reportedly pleaded not guilty to the allegations that he and his entity defrauded customers over the years and artificially inflated the value of CEL (the native token of the organization). The man, arrested on July 13, was set free on a $40 million bond secured by his residence in Manhattan, New York.  The Charges vs.…

View On WordPress

[pavel-nosok]

US FTC Orders Celsius to Pay $4.7 Billion in Fines But There’s a Catch

Just over a week ago, a confidential source from within the CFTC stated that the regulator had arrived at the conclusion that Celsius and its CEO, Alex Mashinsky, had violated U.S. law. At the time, the source was unable to confirm when or whether a lawsuit against the platform and its leadership would be filed. Celsius Settles, C-suite Does Not Mashinsky has since been reportedly arrested, and…

View On WordPress

[pavel-nosok]

Celsius Slaps StakeHound With Lawsuit Over Failure to Return $150M in Crypto

Bankrupt crypto lender Celsius is suing Switzerland-based liquid staking platform StakeHound for allegedly failing to return $150 million worth of crypto assets in Ether (ETH), Polygon (MATIC), Polkadot (DOT), and other tokens. Celsius claimed that it entrusted StakeHound with 40 million native MATIC tokens (worth approximately over $30 million at recent prices) and 66,000 DOT tokens (worth more…

View On WordPress

[pavel-nosok]

Celsius and Former CEO Alex Mashinsky Violated US Law, Says CFTC Spokesman

Three days after Celsius imploded on the 13th of July 2022, the CFTC, swiftly followed by the SEC, launched separate investigations into the crypto platform’s business practices. The company was also investigated – and in some cases sued – separately by local authorities in Vermont, New York, and elsewhere. I’m suing the former CEO of cryptocurrency platform @CelsiusNetwork for defrauding…

View On WordPress

[pavel-nosok]

Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here’s Why

This year, Ethereum’s network officially transitioned to a Proof-of-Stake consensus algorithm, leaving Proof-of-Work forever behind. One of the multiple implications The Merge has had on the protocol is that there are no longer Ethereum miners. Validators secure the network now, and the path to becoming one is supposed to be tremendously simplified – deposit 32 ETH to the staking contract and run…

View On WordPress