Celsius‘ motion to extend timeline for restructuring plan faces objection from creditors

“It is time to allow the Debtors’ customers to propose their own plan for the assets that they were defrauded into investing with Celsius,” said a Withhold account holders’ filing.

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Celsius allows 94% withdrawal of assets for some customers

Celsius, a defunct cryptocurrency lending platform, will begin processing customer withdrawal requests in the next few days. The firm started the day by disseminating a 1,400-page court document on Twitter.

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Celsius to Allow Customers to Withdraw Funds Deposited After Bankruptcy

Celsius creditors hope for speedy resolution after judge's new ruling.

The post Celsius to Allow Customers to Withdraw Funds Deposited After Bankruptcy appeared first on BeInCrypto.

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Locked Account Holders Sell Their FTX, Celsius and BlockFi Accounts

With bankruptcy proceedings for failed crypto platforms likely to take many years, customers with locked funds are moving to sell their accounts in online marketplaces.

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Former Celsius CEO sued for allegedly defrauding customers

New York attorney General Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius Network LLC James said that Mashinsky violated the Martin Act and New York’s Executive and General Business Laws by allegedly defrauding investors into depositing billions of dollars into digital asset within the cryptocurrency lending company.

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New York Attorney General sues Celsius Network founder for defrauding investors

Former CEO of Celsius Network has been sued for misleading customers and making false statements The lawsuit is spearheaded by New York Attorney General Letitia James The lawsuit seeks to peThe post New York Attorney General sues Celsius Network founder for defrauding investors appeared first on AMBCrypto.

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Celsius 'Earn' Assets Belong to Bankrupt Crypto Lender, Judge Rules

A federal judge ruled that customers of Celsius's interest-bearing "Earn" product had turned over control of their assets to the bankrupt crypto lender, meaning they are now part of the company's bankruptcy estate.

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Celsius Wins Rights to ‘Earn’ Deposits, Customers Pushed to Back of Repayment Queue

Embattled crypto lender Celsius has been awarded the rights to crypto assets on the platform pushing customers to the back of the queue. The post Celsius Wins Rights to ‘Earn’ Deposits, Customers Pushed to Back of Repayment Queue appeared first on BeInCrypto.

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Celsius Network owns customers' $4.2 billion crypto, judge rules

Celsius Network has won the rights to 600,000 Earn customers' crypto funds The Judge has granted the platform the right to sell millions of dollars of stablecoin Celsius Network has just wonThe post Celsius Network owns customers' $4.

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Celsius files motion to extend the Bar Date

Celsius filed a motion on December 30, 2022, to extend the Bar Date — the deadline for all customers to file a claim. The post Celsius files motion to extend the Bar Date appeared first on CryptoSlate.

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Celsius, FTX, Voyager users sell bankruptcy claims for pennies on the dollar

Hundreds of Celsius, FTX, and Voyager customers have opted to avoid the bankruptcy process by selling their claims for a fraction of their face value, the Wall Street Journal reported. The post Celsius, FTX, Voyager users sell bankruptcy claims for pennies on the dollar appeared first on CryptoSlate.

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Celsius to return customer funds as January auction attracts 30 bidders

Celsius Network is set to hold auctions for its assets in January 2023. 30 potential bidders have already signed non-disclosure agreements. The crypto lender has also been given a green light to return some of the customers’ funds.

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Celsius Bankruptcy Ruling May Give Hope to FTX Victims

A U.S. judge has determined that certain customers of bankrupt crypto lender Celsius Network are entitled to receive their deposits back. The post Celsius Bankruptcy Ruling May Give Hope to FTX Victims appeared first on BeInCrypto.

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Crypto Lender Celsius' Bankruptcy Judge Orders It to Return $50M of Crypto to Custody Account Holders: Bloomberg

Celsius filed a motion in September to return crypto to customers who held assets in such accounts.

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Celsius’ customers given deadline to claim assets

Celsius has received approval for a January 3, 2023, bar date. The bar date is the deadline for Celsius users to file claims for entities held until July 13.

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US Court Approves Deadline for Celsius Customers to File Proofs of Claim

Customers of the bankrupt crypto lender have until Jan. 3, 2023 to file proofs of claim if Celsius’ scheduling of their claims as filed are incorrect.

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Celsius interim report reveals custody program issues on reimbursement

A new report by the examiner of the bankrupt crypto lender, Celsius Network, details shortfalls in controls and operations at two of the company’s product offerings related to digital assets it held in custody for customers, raising issues of whether…

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Celsius Update: The lender, creditors spat over wallet and asset custody

According to recent reports, Celsius network recently applied to a New York bankruptcy judge to keep custody of their customers’ accounts. Celsius network claims to have full custody over all wallets and the funds therein. However, the account holders maintain…

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Former CEO of Bankrupt Crypto Lender Celsius Cashes Out $960K in CEL, USDC, Data Shows

Alex Mashinsky, who resigned as Celsius’ CEO on September 27, continues to move crypto out of wallets while withdrawals are suspended for customers.

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Court docs reveal details about thousands of Celsius customers

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.

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Celsius Reveals Names, Transaction Histories of Thousands of Customers in Public Court Filing

The names of tens of thousands of Celsius customers have been disclosed in a court filing that appeared online today. Celsius Naming Names In a court filing that is circulating...

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Celsius' Crypto Customers Face Big Obstacle in Trying to Claw Back Their Deposits

A change in the corporate structure of Celsius made when raising money last year may come under scrutiny as the bankrupt crypto lender tries to sell its assets.

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New Filing By Celsius Shareholders Sets Stage For Acrimonious Battle Over Assets

Preferred equity holders believe that Celsius Network's retail customers have no claim on any of the assets belonging to the company's non-customer-facing entities.

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Lawyers for Celsius investors file motion to have interests represented in court

The legal team requested the court appoint a committee representing certain shareholders or the case could end up "inappropriately and inequitably skewed in favor of the customers."

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Celsius Shareholders File to Stake Their Claim for Bankruptcy Payouts

A motion filed by lawyers says the Celsius bankruptcy is “all about the customers” and “without regard for the equity holders.”

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Celsius Revival Hinges on “Crypto-Based Solutions and Tradable Wrapped Assets”

A new recording has emerged of Celsius Network Co-founder Nuke Goldstein discussing the plan to use "crypto-based solutions" to repay its Earn customers and revive the company's fortunes.

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Celsius CEO Floats Daring Plan to Resurrect the Floundering Company

Celsius: Under the new plan, the lender would pivot to storing customers’ crypto in a special wallet and levying charges for transactions. The post Celsius CEO Floats Daring Plan to Resurrect the Floundering Company appeared first on BeInCrypto.

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Celsius Network to Return Only 22% of Customer Funds

Embattled crypto lender Celsius Network told a New York bankruptcy court that it will pay back about 22% of funds to customers whose assets are valued at $48M. The post Celsius Network to Return Only 22% of Customer Funds appeared first on BeInCrypto.

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Celsius files to reopen withdrawals for a minority of customers

Celsius has motioned for $50 million worth of the total $225 million held in the Custody Program and Withhold Accounts to be released to owners.

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Crypto Lender Celsius Faces Another Group of Customers Who Want Their Money Back

More than 60 of Celsius’ custodial-account holders petitioned a bankruptcy court to force the crypto lender to send them back their funds outside of the proceedings.

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Bankrupt Crypto Lender Celsius Sues Prime Trust Over $17M in Tokens

The dispute stems from a trove of assets held by Prime Trust for Celsius customers in New York and Washington.

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‘Consumer Business Is Dead’ for Crypto Lender Celsius, Bankruptcy Expert Says

Thomas Braziel, partner at investment firm 507 Capital, joined CoinDesk TV’s “First Mover” to discuss Celsius Network and why its relationship with customers could be over.

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Celsius to explore options for refunding customers at UCC meeting

With multiple financing offers reportedly coming for Celsius Network, it announced it would meet with the Unsecured Creditors Committee (UCC) on August 23 to consider possible options to accelerate the recovery of the customer’s funds.

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Celsius CEO under fire as Committee of Creditors, DFPI implicate him

The Committee representing customers affected by Celsius’ bankruptcy has issued a mission statement as it seeks further investigation into CEO Alex Mashinsky for allegedly misleading the public.

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Want to Strike Terror in Crypto Markets in 2022? Just Say You’re Suspending Withdrawals

Voyager and Celsius’s bankruptcies were preceded by announcements that they were barring customers from getting their money

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Celsius facing legal action by aggrieved custody customers over $180M deposit

Celsius is facing legal action from a group of custody clients seeking a refund of their collective $180 million deposit. The post Celsius facing legal action by aggrieved custody customers over $180M deposit appeared first on CryptoSlate.

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Celsius reveals customer data breach by vendor’s employee

Embattled crypto lender Celsius Network has revealed via email that some of its customers’ data were breached by an employee of Customer.io. The post Celsius reveals customer data breach by vendor’s employee appeared first on CryptoSlate.

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What Happens to Celsius Creditors if Crypto Prices Recover?

Legal experts survey the undiscovered country that awaits customers of the bankrupt cryptocurrency lending platform.

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New Class Action Against Celsius Alleges Offering "Unregistered Securities" and Deceiving Customers

Complaint refers to Celsius' native asset (CEL) as "securities"

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Celsius Is Hoping for a Bull Market to Repay Customers

During a late Monday bankruptcy hearing, Celsius lawyer Patrick Nash told the judge that all is not lost, as the firm is aims for a reorganization rather than a liquidation....

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Celsius Provides Contact Details For Creditor Claims

After the first court hearing in its Chapter 11 bankruptcy proceedings, Celsius has provided details for how customers can make a claim, and also says it wants to present a plan to the court "that will provide customers with an option to remain long crypto."

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Celsius Bankruptcy Filings Hint Retail Customers Will Bear Brunt of Its Failure

Liquidity-strapped crypto lender Celsius Network filed for Chapter 11 bankruptcy protection in the Southern District of New York on Wednesday, more than a month after it halted customer withdrawals because of “extreme market conditions.”

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Bankruptcy lawyers believe Celsius customers may have to wait years for settlement

Lawyers commenting on Celsius’s recent bankruptcy filing told Reuters that users could face a long, drawn-out process in the path to recover their funds. The post Bankruptcy lawyers believe Celsius customers may have to wait years for settlement appeared first on CryptoSlate.

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Celsius Customers Could Wait Years to Access Funds 

The prospects of Celsius’ creditors recovering their funds from the exchange any time soon are looking slim, with parties advised to brace themselves for an extended tussle in court. The post Celsius Customers Could Wait Years to Access Funds  appeared first on BeInCrypto.

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Celsius terms of use do not guarantee return of customers’ funds

Struggling crypto lender Celsius has filed for Chapter 11 bankruptcy in the US which could mean users may be unable to recover their funds. The post Celsius terms of use do not guarantee return of customers’ funds appeared first on CryptoSlate.

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After 1 Month Of Halting Customers’ Withdrawals, Giant Crypto Lender Celsius Goes Bankrupt

Blockchain-based lending platform Celsius Network is officially bankrupt.

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“I Am Suicidal”: Celsius Customers Respond to Firm’s Bankruptcy 

Celsius announced it had filed for Chapter 11 bankruptcy early Wednesday. Multiple Celsius customers have taken to social media to share their woes following the update. Celsius Files for Chapter...

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Celsius Network Pauses AMAs, With Customers Left in the Dark Over Withdrawals

Crypto lending platform Celsius Network has paused AMAs (ask-me-anything) and Twitter spaces following its decision to freeze withdrawals last week.

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Coinbase stock falls 20% as Celsius news hits cryptocurrencies

Coinbase Global Inc (NASDAQ: COIN) opened more than 20% down this morning after a crypto lending company made an announcement that pushed Bitcoin to its lowest since the start of 2021. Celsius Network news: risk of insolvency Celsius Network disabled customers from withdrawing or transferring crypto assets over the weekend – a drastic move that, […] The post Coinbase stock falls 20% as Celsius news hits cryptocurrencies appeared first on Invezz.

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