Celsius Web Services: The Billion-Dollar Plan That Could Have Saved The Network From Bankruptcy
Celsius, the network that filed for Chapter 11 bankruptcy last year, had attempted to raise $1 billion for a project called Celsius Web Services (CWS).
Celsius, the network that filed for Chapter 11 bankruptcy last year, had attempted to raise $1 billion for a project called Celsius Web Services (CWS).
After Sullivan & Cromwell, consulting firm Alvarez & Marsal billed the second-largest amount for its finance and accounting work.
Celsius creditors say info from FTX is crucial in determining if some CEL trades were meant to inflate its price artificially.
BlockFi was granted a 48-day extension by a New Jersey bankruptcy judge to submit an exit plan, exploring a potential sale of company assets and restructuring.
The once-popular cryptocurrency exchange FTX burned to the ground in a catastrophic blaze last November.
The U.S. judge presiding over the Three Arrows Capital bankruptcy case has upped the pressure on Kyle Davies to comply with a January-issued subpoena.
While the funds represent a small portion of FTX’s overall asset shortfall, the settlement means the firms can avoid a costly legal battle.
The DOJ disagrees with the legal protections given to those involved in the Voyager sale to Binance.US, saying the court “improperly” exceeded its authority.
Contrasting Warren’s statements against crypto auditors, numerous members highlighted the ongoing collapse of Silicon Valley Bank (SVB), a Federal Deposit Insurance Corporation-insured bank.
Celsius users with funds held in its custody program have finally begun to withdraw funds, but users report delays due to a backlog of requests.
An overwhelming majority of Voyager account holders want Binance.US to buy out the firm’s assets.
Emergent Fidelity Technologies reportedly has filed for voluntary chapter 11 bankruptcy.
