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Failed Crypto Lender Cred Blames Its Demise on Uphold Exchange in Suit
23.7.2022
The 2022 meltdown is not the first time that the risks of “Centralized DeFi” products have been laid bare
FTX to Offer Early Liquidity to Customers of Bankrupt Crypto Lender Voyager
22.7.2022
The crypto exchange will allow Voyager customers to create accounts funded by an early distribution of a part of their bankruptcy claims
Crypto Lender BlockFi Had $1.8B in Open Loans at End of June and $600M of Exposure
22.7.2022
Crypto lender BlockFi has $1.8 billion in open loans and $600 million in exposure, suggesting that loans are collateralized at a ratio of 2:3
Nexo, Crypto Lender on Prowl for Ailing Rivals, Faces Declining Deposits
22.7.2022
An analysis of attestations of Nexo assets – including older data retrieved using the Wayback Machine – reveals just how much the crypto lender's deposits have declined in recent months
Crypto lender Vauld seeks protection against creditors: Report
21.7.2022
The crypto exchange, which is backed by Peter Thiel and Coinbase, halted withdrawals in July following an apparent run on its assets
Crypto Lender Vauld Files for Protection From Creditors
20.7.2022
The Singapore-based company had recently suspended withdrawals and begun laying off staff
‘A Damaged Brand’: Former Celsius Employee on the Crypto Lender’s Mismanagement and Alleged Token Manipulation
20.7.2022
Former Compliance and Financial Crimes Director at crypto lender Celsius, Timothy Cradle joined CoinDesk TV’s “First Mover” to discuss the platform’s alleged questionable practices
Report: Equitiesfirst Named as Mystery Debtor to Celsius, $439 Million Owed to Crypto Lender
17.7.2022
Ever since Celsius paused withdrawals on June 12, the company has been the focus of attention due to the lender’s financial hardships. A month later, Celsius filed for bankruptcy in the U.S. by leveraging the Chapter 11 process. Two days after the bankruptcy filing, a report disclosed that...
The Fall of Celsius Network: A Timeline of the Crypto Lender’s Descent Into Insolvency
15.7.2022
A timeline of Celsius’ battle with insolvency during the crypto crash, from the firm’s decision to limit some user activity before the “pause,” to its decision to file for bankruptcy on the advice of restructuring experts
Celsius Files for Bankruptcy — Regulator Says the Crypto Lender Is ‘Deeply Insolvent’
14.7.2022
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC)....
Tether Liquidates Celsius Bitcoin Loan — ‘Position Has Been Liquidated With No Losses’ to the Company
9.7.2022
On July 8, 2022, the company behind the largest stablecoin in the world, Tether, revealed that the firm liquidated a loan made to the crypto lender Celsius, and the liquidation caused “no losses to Tether.” According to the stablecoin issuer, the bitcoin loan to Celsius...
US Regulator Probes Bankrupt Crypto Lender Voyager Over Claims of FDIC Insurance
9.7.2022
The Federal Deposit Insurance Corporation (FDIC) is probing crypto lender Voyager Digital over claims that it is FDIC-insured. The crypto firm previously explained that through its strategic relationships with Metropolitan Commercial Bank, “all customers’ USD held with Voyager is FDIC...
Keyfi Founder Sues Celsius — Says Crypto Lender’s Entire Portfolio Had ‘Naked Exposure to the Market’
8.7.2022
On July 7, 2022, the pseudonymous non-fungible token (NFT) collector known as “0xb1” published a Twitter thread that discusses the collector’s true identity and his relationship with the crypto lending firm Celsius. According to 0xb1, otherwise known as Jason Stone, his team...
First Mover Americas: Bitcoin at $20.1K as Crypto Lender Voyager Files for Bankruptcy
6.7.2022
The latest price moves in bitcoin ($BTC) and crypto markets in context, for July 6, 2022
Voyager Files for Bankruptcy Citing Contagion in Crypto Markets, Three Arrows Capital’s Loan Default
6.7.2022
Crypto lender Voyager Digital has filed for Chapter 11 bankruptcy. The company explained that the “prolonged volatility and contagion in the crypto markets” and the default of crypto hedge fund Three Arrows Capital (3AC) on a loan require it “to take deliberate and decisive...
Crypto Lender Nexo Moves Forward With Plan to Acquire Troubled Rival Vauld
6.7.2022
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore...
Crypto Lender CoinLoan Latest to Limit User Withdrawals
5.7.2022
The “provisional” measure is hoped to be lifted if market conditions allow
Crypto Lender Vauld Suspends Withdrawals, Company Is Discussing ‘Restructuring Options’ With Advisors
4.7.2022
On July 4, the crypto lending company Vauld announced it suspended withdrawals, trading, and deposits after disclosing the firm is “facing challenges.” While not naming any specific companies, the Singapore-based cryptocurrency lending platform and exchange mentioned “financial...
Crypto Lender Celsius Cuts 150 Jobs Amid Restructuring: Report
4.7.2022
Withdrawals are still paused and the company has hired restructuring experts as it faces a financial crisis
Blockfi CEO Says FTX Has an ‘Option to Acquire’ Crypto Lender at a Price of up to $240M
3.7.2022
According to Blockfi’s co-founder Zac Prince, the company has signed definitive agreements with the crypto firm FTX and the deal is currently up to shareholder approval. The deal represents a total of $680 million, but Prince also noted that $240 million of that total could be used...