Tag: Bankruptcy

October 23, 2022

  CELSIUS NETWORK FILES CHAPTER 11 BANKRUPTCY In Vermont, Celsius Network (“Celsius”) is an unregulated cryptocurrency business that provides its clients with interest-bearing bitcoin accounts. Celsius declared that it would stop all withdrawals, swaps, and transfers between client accounts on June 12, 2022. The U.S. Bankruptcy Court for the Southern District of New York received […]

February 19, 2022

  When crypto lending forum “Cred” documented for insolvency in 2020 with up to $500 million in liabilities, the corporation largely criticized alleged corruption by an external undertaking director authorized with 800 Bitcoin. Old employees furthermore told the firm was harmed by the destruction of a $39 million line of credit that Cred augmented to […]