Embattled crypto lender Hodlnaut has been placed under interim judicial management (IJM), according to an August 29 announcement. According to the announcement, the court-appointed Ee Meng Yen Angela and Aaron Loh Cheng Lee, care of EY Corporate Advisors Pte. Ltd., as interim managers for the Singapore-based company. Aaron and Angela combined have over 50 years…
Vermont has opened investigations into Celsius Network while warning residents to be wary of investing in more CEL tokens. Vermont’s Department of Financial Regulation (DFR) said Celsius is “deeply insolvent” and accused it of mismanaging its customers’ funds. “Celsius is deeply insolvent and lacks the assets and liquidity to honor its obligations to account holders…
BnkToTheFuture, one of Celsius Network‘s leading investors, has submitted three proposals that could help solve the firm’s liquidity issues and save it from bankruptcy. #DepositorsFirst Celsius Recovery Plan https://t.co/YkGy3N0Gwd — Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) June 30, 2022 The CEO of BnkToTheFuture, Simon Dixon, shared the proposals on Twitter. The proposals involve relaunching or restructuring…
Crypto exchange CoinFlex will resume withdrawals after issuing a new token — dubbed Recovery Value USD (rvUSD) — which will offer 20% annual returns to users, the exchange announced in a whitepaper on June 27. CoinFlex intends to issue $47 million worth of rvUSD starting June 28 to help deal with liquidity issues and expects…
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! U.S. SEC Commissioner Hester Peirce criticized crypto bailouts in a recent Forbes interview and said the current market crash could set the foundation for a more sustainable future for the industry. According to Peirce, tough times in the industry reveal projects…
Celsius CEO Alex Mashinsky announces self-insurance for all its users’ coins Crypto banking and financial services platform Celsius Network (CEL) plans to self-insure its users’ funds against unforeseeable losses, its co-founder and CEO Alex Mashinsky announced on Twitter today. 2 min read →