Tag Archives: Celsius

(Reuters) -U.S. 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. New Jersey-based Celsius listed estimated assets and liabilities on a consolidated basis in the range of $1 billion to $10 billion, according to a court filing in the U.S. Bankruptcy Court for Southern District of New York. Crypto lenders boomed during the COVID-19 pandemic, drawing depositors with high… Source link

(Bloomberg) — Celsius Network Ltd. paused withdrawals, swaps and transfers after weeks of speculation over the sustainability of the outsized returns being offered by the DeFi lending platform, fueling a broad cryptocurrency selloff. Most Read from Bloomberg Crypto markets tumbled after the Celsius announcement, with Bitcoin dropping as much as 14% to the lowest level since December 2020 and other major tokens like Ether also falling sharply. Celsius’s CEL token was down about 50% to 19… Source link

Crypto lender Celsius Network lost funds in a recent cyber hack, the latest decentralized finance (DeFi) attack that comes amid a broad retrenchment in cryptocurrencies. On Wednesday night, BadgerDAO, a decentralized autonomous organization (DAO) which builds DeFi products using Bitcoin as collateral, announced over its Discord it would halt the functioning of its products after reports of “unauthorized withdrawals of user funds.” During an “ask me anything” (AMA) session on Friday,… Source link

After the price of bitcoin fell Friday following Elon Musk’s “breakup tweet,” Alex Machinsky, CEO of Celsius Network, discounted the Tesla (TSLA) CEO’s role in cryptocurrency at the Bitcoin Conference 2021 in Miami. “Elon [Musk] is a tourist in crypto,” Mashinsky told Yahoo Finance Live. “He’s here to collect followers. I don’t think he’s here to make the world a better place, and we can go to where we’re going with Elon or without Elon.” Bitcoin’s (BTC-USD) price fell nearly 7… Source link