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The Latest Breaking News from Celsius

Zipmex files for bankruptcy protection in Singapore

SINGAPORE: The cryptocurrency exchange Zipmex said on Friday that it has filed for bankruptcy protection in Singapore, becoming the latest victim of the global downturn in digital currencies.

Bangkok Post

Tether’s recovery of an $840mn loan scrutinised in Celsius bankruptcy

Case is a major test of how US insolvency rules will apply in the digital asset sector

Financial Times

Explainer: The lowdown on the Zipmex situation

Analysts have commented on the implications on investor confidence and markets following Thailand's major digital asset exchange platform Zipmex's announcement of a memorandum of understanding (MoU) with interested parties.

Bangkok Post

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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

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

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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

Crypto Price Check: Bankruptcies Taking Sector into Uncharted Waters

The fall of integral crypto players has triggered 'a downward spiral', one analyst says, that's taken other crypto investors and companies down with it.

The Street

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.

inkl Originals

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

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The Street

Celsius Bankruptcy Filing Hits Boiling Point on Social Media

Twitter rocks with rage and regret as Celsius Network announces its bankruptcy filing.

Input

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.

The Street

Another Prominent Crypto Lender Goes Down

Celsius Network was one of the first crypto lenders to prevent its customers from withdrawing their money last month.

Benzinga

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

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The Street

Stocks Lower, JPMorgan, TSMC, Celsius Network And Tesla In Focus - Five Things To Know

Stocks lower as inflation shock triggers steeper Fed rate bets; JPMorgan kicks-off bank earnings amid Jamie Dimon's 'hurricane' warning; TSMC sees 'firm' chip demand after solid Q2, robust global outlook; Celsius Network files for bankruptcy, won't seek authority to allow withdraws and Tesla loses autopilot executive as Musk chases self-driving…

Evening Standard

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.

Asharq Al-Awsat

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…

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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