Examiner finds customer deception, ‘very Ponzi-like’ use of funds at Celsius
[ad_1] Court-appointed examiner Shoba Pillay submitted her final report on select aspects of operations at bankrupt cryptocurrency Celsius on Jan. 31. The document was commissioned on Sept. 29 and is 470 pages long, not counting the 31 appendices. Pillay is a former federal prosecutor and partner at law firm...
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New York Charges Celsius Network Co-Founder Alex Mashinksy with Fraud
[ad_1] Letitia James, the Attorney General of the State of New York, has charged Alex Mashinsky, the Co-Founder of bankrupt crypto lender Celsius Network, with fraud. In a lawsuit filed before a supreme court in the County of New York on Thursday, James accused the former CEO of “defrauding...
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Celsius Network’s bungling showed why centralization can’t protect privacy
[ad_1] In Celsius Network’s recent court filing, the billion-dollar centralized finance (CeFi) platform exposed more than 14,000 pages of customer identity and on-chain transaction data without user consent — a prescient reminder that privacy absent decentralization is no privacy at all. As part of its bankruptcy proceedings, CeFi lending...
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Celsius changes legal team, pays off $20M in Aave debts
[ad_1] Crypto lending platform Celsius has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that assisted Voyager Digital with its bankruptcy filing last week. According to a report from the Wall Street Journal on July 10, the company has...
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