Bankruptcy judge orders $44M in crypto to be returned to Celsius customers
A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers. According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to move forward. I want creditors […]
Getting funds out of FTX could take years or even decades: Lawyers
While investors are eager to know when they will be able to get their funds back from the now-bankrupt crypto exchange FTX, insolvency lawyers warn it could take “decades.” The crypto exchange, along with 130 affiliates filed for Chapter 11 bankruptcy protection in the United States on Nov. 11. Insolvency lawyer Stephen Earel, partner at […]
FTX bankruptcy freezes millions worth of crypto company funds
The collapse of the cryptocurrency exchange FTX continues to have knock-on effects throughout the crypto industry with multiple crypto-focused companies reporting significant amounts of their capital stuck on FTX. Between Nov. 11 to 14 three crypto companies announced large losses with one of them having to lay off workers to deal with the crisis. On […]
Crypto exchange Kraken freezes accounts related to FTX and Alameda
United-States-based cryptocurrency exchange Kraken has frozen the accounts associated with “FTX Group, Alameda Research, and their executives,” on its exchange after engaging with authorities. In a Twitter post on Nov. 13, Kraken said the accounts were frozen “to protect their creditors” and added it “maintains full reserves” and other users’ funds aren’t affected, likely seeking […]
Institutional investor sentiment about ETH improves as Merge approaches
Ethereum prices may have dipped again today, but there are signs that professional investors are warming to the asset as the highly anticipated Merge draws closer. In its digital asset fund flows weekly report, fund manager CoinShares reported that Ethereum-based products saw inflows for the third consecutive week. There was an inflow of $7.6 million […]
$45,000 Bitcoin looks cheap when compared to gold’s marketcap
Bitcoin (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin’s $850 billion capitalization, which isn’t anywhere close to silver’s […]
'Dutiful son' drugs dad's tea to access BTC funds worth $400K
A father and son’s disagreement over crypto trading led to a near-death experience and some jail time. Because of a shift in crypto market prices, a son reportedly drugged his father to gain access to his Bitcoins. The dad, who didn’t want to be identified, made his son, Liam Ghershony, a partner in his crypto […]