September 24, 2024 at 02:45 PM GST updated: September 24, 2024 at 12:56 PM 2 mins read News Michael Saylor proposes Bitcoin-backed loans, allowing BTC holders to borrow USD without selling their assets. Saylor suggests major banks like JPMorgan and Bank of America could offer Bitcoin-backed loans for liquidity and yield. Economist Saifedean Ammous warns…
Celsius Network has paid over $2.53 billion to around 251,000 creditors as part of its bankruptcy proceedings. Most creditors are owed small amounts, with 64,000 owed under $100 and 41,000 between $100 and $1,000. About 121,000 creditors have yet to claim their distributions. Celsius Network’s bankruptcy proceedings have concluded. Celsius’ bankruptcy administrator distributed over $2.53…
Celsius has repaid $2.53B to 251,000 creditors, covering 84% of the debt. 121,000 creditors still haven’t claimed their funds, many due small amounts. Former CEO Alex Mashinsky faces fraud charges, with $4.7B in fines settled. In a significant development amid its ongoing bankruptcy proceedings, Celsius, the embattled crypto lender, has successfully repaid approximately $2.53 billion…
Market News The business outlined their strategy to repay creditors via PayPal’s Hyperwallet service. The cryptocurrency lender is attempting to sidestep any complications or setbacks. Insolvent Crypto lender Celsius Network has filed a notice to the court about its intentions to distribute funds to creditors. In a filing submitted to the US Bankruptcy Court for…