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The Latest Breaking News from Celsius

Authorities probe potential losses for users of crypto platform Zipmex

The Securities and Exchange Commission said on Monday it was working with law enforcement to look into potential losses among the public after the crypto exchange Zipmex temporarily suspended withdrawals last week.

Bangkok Post

Did Tesla Crash the Bitcoin Market?

Electric vehicle company Tesla Inc (NASDAQ: TSLA) purchased $1.5 billion of Bitcoin (CRYPTO: BTC) in January 2021.

Benzinga

Zipmex investors face major losses

Akalarp Yimwilai founder and CEO of Zipmex said on Thursday that the exchange’s financial exposure to troubled crypto lenders Babel and Celsius is US$48 million, or 1.7 billion baht, and $5 million, or 184 million baht, respectively, as of July 21. Celsius filed for bankruptcy on July 13.

Bangkok Post

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Crypto woes spread as Celsius, Babel links hit another exchange

Zipmex, a cryptocurrency exchange that operates in Singapore and Thailand, has halted withdrawals as the fallout from a series of defaults spreads further throughout the digital-assets industry.

Bangkok Post

Benzinga Before The Bell: Musk's Twitter Lawsuit, Uber Penalized For Overcharging People With Disabilities, Johnson & Johnson Cuts Outlook And Other Top Financial Stories Tuesday, July 19

CNBC Amazon Courts More Trouble As Regulators Inspect Its Warehouses

Benzinga

Celsius Bankruptcy Hearing: Lawyers Claim Users Gave Up Legal Rights To Crypto

Bankrupt cryptocurrency lender Celsius’ lawyers have asserted that the platform’s users gave up rights to the digital coins deposited in the borrow-and-earn programs.

Benzinga

The Weekly Wrap for Saturday, 16 July 2022

This week, a tour of the Subcontinent. Gotabaya Rajapaksa finally took the hint and people partied through the state of emergency. Pakistan is flooding (both ways) and India claims more bragging rights.

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Crypto bankruptcy adds to Thai woes

The collapsing value of Thai digital assets has been exacerbated by the bankruptcy of US-based Celsius Network, following months of rapidly deteriorating sentiment in the global and domestic cryptocurrency markets and a series of insolvencies among high-profile crypto lenders.

Bangkok Post

Celsius Network: crypto firm reveals $1.2bn deficit in bankruptcy filing

Company says it was faced with ‘run on the bank’ amid ‘cryptopocalypse’ as investors raced to withdraw assets

The Guardian - UK

Users owed £4 billion by bust crypto lender Celsius

A staggering $4.7 billion (£4 billion) of assets is owed to users of bankrupt crypto lender Celsius Network, court filings show, as crypto holders struggle to recover their investments in the wake of the Bitcoin price crash.

Evening Standard

Celsius bankruptcy signals more pain for users with frozen funds

The crypto exchange paused withdrawals in June and has now officially filed Chapter 11. Meanwhile, users' money is still stuck in limbo with no end in sight.

Input

Benzinga Before The Bell: Tesla's AI Exec Quits, Hyundai Unveils Ioniq 6 EV, Taiwan Semiconductor's Massive Q2 Profit Surge And Other Top Financial Stories Thursday, July 14

CNBC United Airlines, Pilots’ Union To Improve Agreement By Renegotiating

Benzinga

Celsius Network files for bankruptcy amid continued crypto woes

Crypto lender Celsius Network has filed for bankruptcy as it becomes the latest victim of the Bitcoin price crash.

Evening Standard

Crypto Platform Celsius Files for US Bankruptcy

Cryptocurrency investment platform Celsius announced on Wednesday that it had filed for bankruptcy in the US, a month after it froze withdrawals from its platform, in the latest sign of an industry in turmoil. In its statement, Celsius, which suspended withdrawals in mid-June, said it was seeking to restructure in…

Asharq Al-Awsat

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Bangkok Post

Crypto lender Celsius files for bankruptcy

NEW YORK: US crypto lender Celsius Network said on Wednesday it has filed for bankruptcy, becoming the latest victim in the cryptocurrency sector to wilt under a dramatic plunge in prices.

Financial Times

Inside Celsius: how one of crypto’s biggest lenders ground to a halt

Former employees and internal documents suggest a reckless pursuit of high returns put the company in a poor position to ride out this year’s market turbulence

The Guardian - AU

Celsius Network: cryptocurrency lender files for bankruptcy

Company enters Chapter 11 process as fallout continues from collapse of global cryptocurrency networks

The Guardian - UK

TechScape: Uber’s easy ride is over

Why the tech giant’s aggressive approach to growth may only encourage future startups. Plus: the latest in Elon’s Twitterverse

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The Guardian - UK

‘They couldn’t even scream any more. They were just sobbing’: the amateur investors ruined by the crypto crash

Fuelled by hype and hysteria, the market in bitcoin and other cryptocurrencies went from an obscure niche to a $3tn industry. Then the house of cards collapsed

Evening Standard

Celsius weighs bankruptcy filing as crypto trader crisis grows

Beleaguered crypto lender Celsius Network is exploring a possible bankruptcy filing as it becomes the latest victim of the crash in the sector.

Input

Voyager Digital is the next domino to fall in crypto’s brutal wipeout

Stephen Ehrlich, the company's CEO noted that "volatility in the crypto markets" has forced his hand as the company filed for Chapter 11 bankruptcy.

Bangkok Post

Crypto lender Vauld freezes withdrawals, eyes restructuring

Vauld, a crypto lender backed by Coinbase Inc, said it froze withdrawals and hired advisers to explore a potential restructuring, joining rivals from Celsius Network to Babel Finance in resorting to last-ditch measures to survive the market rout.

Benzinga

FTX Bails Out BlockFi, Has Option To Purchase For Up To $240 Million: What You Need To Know

After numerous days of conflicting reports leaving BlockFi investors and crypto watchers on edge, company CEO Zac Prince took to Twitter on Friday to announce that FTX signed a deal to bail out the embattled crypto firm.

Benzinga

Benzinga Before The Bell: Kohl's Deal Talks Cancellation, Tesla's Racial Discrimination Lawsuit, Nio's Strong June Deliveries And Other Top Financial Stories Friday, July 1

CNBC Why Kohl’s Shares Are Plunging Today

Asharq Al-Awsat

Crypto Lending World Sways under Risk and Turmoil

Starting with the lofty goal of competing with traditional banks, cryptocurrency lending giants and their clients now face financial ruin due to their appetite for risk and a paucity of regulatory guardrails. Celsius Network, which suspended withdrawals in mid-June, had advertised a seemingly difficult-to-reconcile mix of interest rates, charging just…

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