Celsius

Celsius Network founder withdrew $10 million before bankruptcy

Celsius Network founder withdrew $10 million before bankruptcy

Celsius Network founder Alex Mashinsky withdrew $10 million from the crypto lender just weeks before the company froze customer accounts as it headed for bankruptcy, according to people familiar with the matter. The crypto withdrawals by Mashinsky in May this year came as clients withdrew their assets from the company in large numbers, spooked by …

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Celsius has a Hail Mary bankruptcy plan: turn its debt into a new cryptocurrency

Celsius has a Hail Mary bankruptcy plan: turn its debt into a new cryptocurrency

Ever since bankrupt crypto lender Celsius froze withdrawals in June, customer funds have been in limbo. Now, a leaked audio shared with CNBC reveals a preliminary plan to compensate them. The company wants to issue an “IOU” cryptocurrency to customers who have signed up for some of its accounts. The recording was provided by Tiffany …

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