An independent examiner will look into various aspects of Celsius Network’s digital asset holdings, a US Bankruptcy Court ruled. It indicates that the failed crypto lending platform will face more stringent scrutiny of its financial conduct. US Bankruptcy Judge Martin Glenn approved a request to this effect on Wednesday, media reports said. However, the examiner has...Read More
California’s Department of Financial Protection and Innovation (DFPI) has now issued a desist and refrain order against Celsius. As such, the bankrupt crypto lender will not be to continue the sale and marketing of securities in the state of California. The development comes a month after the DFPI slapped two cease and desist orders to...Read More
The Thailand-based cryptocurrency platform – Zipmex – froze clients’ withdrawals citing volatile market conditions. It remains unknown when the company will restore the service. The latest firm in the cryptocurrency field to reveal issues on its platform is the Thai exchange Zipmex. In a recent tweet, it disclosed that users are not allowed to make...Read More
It’s been eight days since Celsius Network Halted Swaps, Transfer, and Withdrawal, citing extreme market conditions. This came as the Crypto Market was experiencing a massive sell-off that saw Bitcoin hitting $17k low levels. Celsius had reportedly stopped users from withdrawing from the network, which caused some uproar in the community as many investors feared...Read More
The crypto-lending firm Celsius, which offers high-yield returns on user deposits, appears to be the latest to falter in the face of tightening financial conditions. It also came barely one month after the Terra-Luna stablecoin network collapsed. Background Celsius Network is a blockchain-based lending platform accessible through a free mobile app. Celsius Network is a...Read More
