BlockFi creditors want the court to redact their personal information, according to a Jan. 10 court filing. The creditors argued that the redaction of their information would protect them from “hacking, identity theft, and harassment” risks in the crypto space. According to the filing, BlockFi would lose its potential clients’ trust if this information becomes…
Crypto platform Midas Investment will shut operations because of the significant losses it incurred in 2022, according to a Dec. 27 statement. CEO Iakov “Trevor” Levin said the Midas DeFi Portfolio lost 20% of its $250 million ($50 million) in assets under management. Trevor added that users withdrew around 60% of its AUM following the…
Embattled crypto lender Celsius Network has set a final bid date of Oct. 17 for the sale of its assets, according to an Oct. 3 court filing. According to the filing, the firm would auction its assets on Oct. 20, if necessary. The document revealed that a sales hearing is set for Nov. 1 before…
Celsius Network’s founder Alex Mashinsky reportedly withdrew $10 million from the struggling crypto lender a few weeks before the firm froze its customer funds and filed for bankruptcy, the Financial Times reported on October 2. According to the report, the withdrawals happened in May, around the same period when the broader market was still reeling…
Nexo revealed that it stopped onboarding new U.S. clients to its Earn Interest Product in February 2022 after financial regulators in eight states initiated legal actions against it. According to the U.S., Nexo violated securities law by offering their residents interest-bearing crypto accounts. California issues cease and refrain order California’s Department of Financial Protection and…
Celsius shareholders have requested an official legal representation that would represent their interest in the bankruptcy proceedings, according to a Sept. 22 court filing. According to the filing, there is a clear need for this fiduciary representation as there are only two economic stakeholder groups — retail customers and equity holders. The shareholders claim the…
Ripple Labs could be interested in buying the assets of embattled crypto lender Celsius Network, Reuters reported Aug. 10. A Ripple spokesperson reportedly said the firm was interested in looking for M&A opportunities to scale its business. However, the San Fransico-based company refused to confirm if it would purchase Celsius assets outright. “We are interested…
Celsius has withdrawn its motion to rehire former CFO Rod Bolger as a consultant, according to an August 5 court filing. Reports had emerged that the firm wanted to rehire Bolger for at least six weeks in an advisory capacity. However, the motion was opposed by Keith Suckno, one of Celsius’ investors. According to Celsius,…
Embattled crypto lender Celsius Network wants to rehire its ex-Chief Financial Officer Rod Bolger, according to a court filing made by the firm on July 25. According to the filing, Celsius wants to hire Bolger for at least six weeks in an advisory capacity because of his familiarity with the firm’s business, pending court approval….
Voyager’s CEO Stephen Ehrlich made over $30 million when he sold the company shares when it was trading at its peak in 2021, CNBC reported Aug. 3. According to CNBC’s report, Ehrlich sold 1.9 million shares between Feb. 9, 2021, and March 31, 2021, in eleven transactions. The transactions were worth $31 million. It is…