Tag: celsius network

The troubled crypto lending platform Celsius Network is reportedly using investor funds to conduct high-risk leveraged crypto trading activities. As per a new report by blockchain analytics company Arkham Intelligence, Celsius Network entrusted corporate money worth around $530 million to an asset director engaged in high-risk leveraged trading strategies. These highly risky trading strategies led to an apparent loss […]

In a lawsuit filed in New York, troubled crypto lending platform Celsius has been accused of fraud, improper management of customers’ funds, and breach of contract by staking software provider KeyFi. KeyFi founder Jason Stone said that Celsius ran a Ponzi scheme and utilized user funds to control the price of its crypto token CEL. The lawsuit […]

Crypto lending platform Celsius Network has transferred around 25,000 Wrapped Bitcoin or wBTC to the crypto exchange giant FTX. This transaction worth $528.9 million prompts concerns inside the crypto community about whether a dump might follow soon. The significant payment to the exchange was made after Celsius Network cleared the remaining $41.2 million in Maker (MKR) protocol […]

Crypto lending giant Nexo has made an exclusive move to acquire up to 100% of the smaller crypto lending rival, Vauld Group.  As reported by The Block, Nexo, based in London has signed an indicative term sheet with the embattled firm and has about a 60 days window to conduct due diligence to see whether […]

Crypto lending platform CoinLoan has announced that it is making changes in its withdrawal limits for the users “to balance the flows of funds and prevent liquidity-related interruptions.” According to the recent announcement, CoinLoan is probably the only company unaffected by the stETH, LUNA/UST disaster, Three Arrows Capital collapse, and other DeFi protocol issues. CoinLoan […]

In three transactions over the past day, Celsius Network paid off $120 million of its debt to the Ethereum-based DeFi lending protocol Maker.  Notably, the lending platform, which is facing a serious liquidity problem, had borrowed hundreds of millions from Maker using wrapped Bitcoin (WBTC) as collateral. By reducing its Maker debt, Celsius Network has reduced […]

Embattled digital currency lending platform, Celsius Network has decongested its current liabilities by laying off as many as 150 workers globally according to a report from Calcalist. The move comes off as one of its most direct responses after suspending withdrawals last month citing extreme market conditions as the reason. A lot has been happening […]

Embattled digital currency lending platform, Celsius Network might have taken on too much risk than it can bear according to a recent report from the Wall Street Journal (WSJ). Through an analysis of the data the company sent to its investors, the prominent American media firm pointed out that as of last October when Celsius […]

Investment banking giant Goldman Sachs is planning to buy up crypto assets of lending platform Celsius Network if the situation for the latter worsens any further. Several reports floating around, Goldman aims to raise a major amount to make the purchase. As per a recent report by Coindesk, Goldman Sachs intends to get involved after previous investors […]

According to several reports, the crypto lending company, which is currently struggling to survive this crypto bear market, Celsius Network, has hired advisors from the management consulting firm Alvarez & Marsal to tackle the company’s reported bankruptcy. As per a recent report by the Wall Street Journal, the company has onboarded an unknown number of restructuring […]

Digital assets lending protocol, BlockFi has turned to FTX Derivatives Exchange for a bailout as it has secured the sum of $250 million in revolving credit to bolster its operations. Chief Executive Officer, Zac Prince made the announcement via his official Twitter account today. Prince said the new capital will be very instrumental in boosting […]

Embattled crypto lending platform, Celsius Network has affirmed its commitment to resolve its current challenges towards the broader advancement of its offerings. As shared in a blog post, exactly after a week in which it halted withdrawals on the platform, the platform said its objective remains to stabilize its liquidity and operations. “It has been […]

During these hard times leading to account freeze decisions, crypto lending platform Celsius Network has reportedly hired restructuring lawyers from the prestigious law firm Akin Gump Strauss Hauer & Feld LLP. Celsius to take help for solving its financial issues According to a recent report by The Wall Street Journal, the “people familiar with the […]

Cryptocurrency lender, Celsius Network, has completed the acquisition of Israeli cybersecurity company GK8 in a deal worth $115 million. This was announced by the company on Monday. The acquisition comes one month after the crypto lender received a cease-and-desist order from Kentucky’s financial regulators. According to the regulators, the crypto accounts were in breach of […]