Tagged: Celsius

October 1, 2022 @ 12:15 pm By JD Alois  |  

Celsius Network, a crypto yield and lending platform that is going through bankruptcy proceedings, has filed a document with the courts reminding borrowers they should repay outstanding loans but these outstanding debts and repayments are not currently being enforced. Celsius tweeted yesterday that the filed… Read More

September 27, 2022 @ 12:15 pm By JD Alois  |  

In a brief corporate statement, Alex Mashinsky, founder and CEO of Celsius Network, has resigned from the firm, effective immediately. Celsius is one of the crypto firms that grew rapidly providing incredible returns to investors via its crypto lending/yield platform, only to collapse in the… Read More

September 23, 2022 @ 12:03 pm By JD Alois  |  

Celsius, a crypto company that collapsed into bankruptcy in spectacular fashion, has had a discussion pertaining to its failure leaked on the internet. Posted by Tiffany Fong, she has also included a transcription of the audio as well as her opinion of the discussion. Apparently,… Read More

September 2, 2022 @ 3:32 pm By JD Alois  |  

Celsius Network has emerged as another emblematic platform reflecting the hubris of certain crypto firms in promising more than they can actually deliver. Celsius collapsed into Chapter 11 bankruptcy during a time of dramatic volatility, catalyzed by the collapse of TerraUSD, a stablecoin that ended… Read More

August 13, 2022 @ 10:45 am By Omar Faridi  |  

San Francisco’s blockchain payments Fintech Ripple Labs Inc, which is currently involved in an extensive legal battle with the US Securities and Exchange Commission (SEC), is reportedly interested in acquiring the assets of bankrupt cryptocurrency lending platform Celsius Network. This, according to statements shared by… Read More

July 18, 2022 @ 10:27 pm By JD Alois  |  

Celsuis held its first hearing in bankruptcy court, publishing a presention that highlights the grim decline in value of its crypto holdings in just a few weeks. According to a presentation, as of March 30, 2022, Celsius helld over $22 billion in assets. That amount… Read More

July 13, 2022 @ 9:42 pm By JD Alois  |  

Celsius Network, at one time one of the most popular crypto yield and lending platforms, has filed for bankruptcy protection under chapter 11, thus removing all speculation as to whether or not the platform could reanimate itself during a collapse in crypto valuations. Celsius effectively… Read More

July 8, 2022 @ 9:31 am By JD Alois  |  

Celsius Network, a once-prominent crypto lending and yield platform that bashed traditional banks, has been sued in the State of New York, blasted with allegations of operating a “classic Ponzi scheme.” Last month, Celsius effectively shut down operations. On June 13th, Celsius tweeted: [we] are… Read More

July 4, 2022 @ 9:17 am By Omar Faridi  |  

Just three weeks after (the once leading) cryptocurrency lender Celsius revealed that it was halting withdrawals, platform users are now demanding some answers, according to a report from the WSJ. When crypto-asset lending platform Celsius had suspended customer accounts following a sharp decline in valuations,… Read More

July 1, 2022 @ 11:25 am By JD Alois  |  

Yesterday, Celsius Network, a large crypto lender and yield platform that abruptly halted all withdrawals recently, posted an update of sorts. While disclosing very little, Celsius shared the following comment on its blog: “Across Celsius today, we are focused and working as quickly as we… Read More

June 16, 2022 @ 11:17 am By JD Alois  |  

Celsius continues to struggle in the background to resurrect its crypto banking operations. This past weekend, Celsius announced it had paused all withdrawals due to an apparent crypto bank run. Of course, this generated panic and frustration from its users that had trusted the operation… Read More

June 14, 2022 @ 4:10 pm By JD Alois  |  

Celsius has posted a brief update on its radical step this past weekend to halt all withdrawals. Via Twitter, Celsius stated: “[We are] working as quickly as possible and will share information as and when it becomes appropriate. Acting in the interest of our community… Read More

June 13, 2022 @ 9:59 am By JD Alois  |  

BlockFi, another large crypto lending and yield platform, has issued a statement that all things are operating normally on their platform – a clear reference to the temporary halt of withdrawals on Celsius. BlockFi CEO and founder Zac Prince stated: All products and services BlockFi… Read More

June 13, 2022 @ 9:46 am By JD Alois  |  

Marcus Sotiriou, an Analyst at the UK-based GlobalBlock (TSXV:BLOK), believes the decline in crypto markets and the sinking value of Bitcoin is due to fear surrounding the insolvency risk – pointing a finger at Celsius, a large crypto platform that halted all withdrawals today without… Read More

June 13, 2022 @ 8:11 am By JD Alois  |  

There is a rush for the exits in the crypto markets it seems. Yesterday, Celsius – a “new economy” digital asset platform that provides services similar to banks but with crypto, announced it was halting all withdrawals, transfers, and swaps due to the collapsing market…. Read More

February 4, 2022 @ 1:19 pm By Omar Faridi  |  

Public Mint, the fiat-native public blockchain and money system, has started using Celsius, the platform for lending and earning yield on digital currency, adding to Public Mint’s diversified, high-yield returns program known as EARN. The partnership with Celsius diversifies EARN’s offerings, which enables users to… Read More

November 2, 2021 @ 8:23 am By Omar Faridi  |  

Celsius Network, the international cryptocurrency earning and borrowing platform, announced it has paid over $1 billion in digital assets to its community of 1.2 million users – “marking the most yield paid out to users by any crypto platform.” The announcement also mentioned that Celsius… Read More

October 13, 2021 @ 7:52 am By Omar Faridi  |  

Celsius Network, the international digital currency earning and borrowing platform, reveals that it has finalized a $400 million investment that was led by WestCap, a growth equity company, as well as Caisse de dépôt et placement du Québec (CDPQ), a global investment group. The transaction… Read More

August 26, 2021 @ 11:26 am By Omar Faridi  |  

Celsius, the international digital currency earning and borrowing platform, recently revealed that it’s now managing $20,366,621,718 in crypto-assets as of August 13, 2021. Celsius carried out its quarterly internal audit using tech provided by third-party blockchain analysis company, Chainalysis, and using an internally developed methodology… Read More

August 6, 2021 @ 11:18 am By Omar Faridi  |  

Celsius has secured the backend pricing of crypto-assets using Chainlink, which is considered a major leap in CeFi “decentralization.” As stated in the update from Celsius: “In one of the most ambitious moves towards decentralization, Celsius is now leveraging the industry-leading Chainlink Price Feeds to… Read More