Celsius Network

New York Attorney General Letitia James is pushing for investors to blow the whistle on crypto companies they consider deceiving or misconducting. The AG's intervention comes after a series of debacles that led to people losing their crypto investments. Projects like Terra, Celsius, Voyager, Anchor, and Stablegains have crashed, affecting millions of investors in the process. James believes people have the power to prevent such losses by signaling suspicious activities in crypto projects they support. In a recent tweet, she…

Bankrupt crypto lending platform Celsius Network has filed a motion to retain its former CFO, Rod Bolger, as an advisor. The company filed the motion on July 25, looking to keep Bolger for at least six weeks. Bolger would advise on the company as it goes through bankruptcy proceedings. Bolger tendered his resignation on June 30, just over two weeks after Celsius halted withdrawals. Celsius required him to give eight weeks' notice, which he did. Effectively, this means Bolger is…

Celsius Network has filed for Chapter 11 bankruptcy in New York. The embattled crypto lender announced this news on July 13, noting that it voluntarily initiated the bankruptcy process. In doing so, Celsius hopes to stabilize its business and start a restructuring procedure that maximizes value for all stakeholders. Per the announcement, Celsius and some of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the US Bankruptcy Code. The entities filed the petitions in the US Bankruptcy…

Troubled crypto lending platform Celsius Network is facing fraud charges in a New York state court. Reuters reported this news on July 7, noting that KeyFi Inc brought these charges against the firm. Specifically, the plaintiff accuses Celsius of running a Ponzi scheme for personal gain. KeyFi Inc, which is run by Jason Stone - a former Celsius investment manager - claims Celsius used customer deposits to rig the price of its native token, CEL. Citing “gross mismanagement of customer…