Celsius Network

U.S. prosecutors request a Curcio hearing to address potential conflicts of interest in the legal representation of crypto figures SBF and Mashinsky, amid fraud charges and company collapses.

Celsius Network resolves its bankruptcy, distributing $3 billion and launching Ionic Digital, amidst operational shifts and ongoing legal challenges.

Celsius initiated a $125 million ETH transfer to repay creditors, allocating $95.5 million to Coinbase. FTX and Alameda transferred $28 million in crypto for creditor repayment efforts.

Following Celsius' bankruptcy declaration due to a substantial financial deficit, the company's managers are initiating legal measures against customers who withdrew significant amounts within 90 days before the bankruptcy. Affected customers will receive guidance on settling 27.5% of their withdrawn funds via email, with specific criteria and deadlines outlined for resolution.

The ruling permits Celsius to deviate from its previously approved bankruptcy plan, with the judge asserting that the restructuring does not harm creditors and customers.

Cryptocurrency heavyweights like FTX and Celsius navigate post-bankruptcy challenges, with legal battles and regulatory scrutiny. Meanwhile, Voyager faces settlement fallout, while BlockFi stages a remarkable comeback. Genesis and Core Scientific grapple with complex legal issues. The crypto industry's financial drama unfolds with uncertainties, resembling a high-stakes poker game.

Judge Martin Glenn, of the Southern District of New York Bankruptcy Court, has given the nod to Celsius Network's reorganization plan

Ex Celsius Network CEO Alex Mashinsky, currently facing seven criminal charges related to crypto fraud, is scheduled to begin trial on 17 September 2024.

Celsius Network is transforming into a Bitcoin miner while navigating legal challenges

As the bankruptcy proceedings of Celsius Network reach their culmination, a concerning resurgence of phishing attacks has emerged, posing significant risks to the lender's creditors.