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Kadhim Shubber / Financial Times: Sources: Celsius founder Alex Mashinsky withdrew $10M from the crypto lender weeks before freezing customer accounts; one source says $8M was used to pay taxes — Scrutiny of Alex Mashinsky grows after crypto lender was left with hole in balance sheet — Celsius Network founder Alex … Kadhim Shubber / Financial Times: Sources: Celsius founder Alex Mashinsky withdrew $10M from the crypto lender weeks before freezing customer accounts; one…

Illustration by Alex Castro / The Verge New York Attorney General Letitia James is suing crypto company Nexo, alleging that the company misled customers by saying it was registered to sell securities and commodities and that it wasn’t approved to offer services like its “Earn Interest Product” that promised returns on deposited crypto. It’s the latest legal move in a fight between regulators and crypto companies looking to offer interest-earning accounts, often insisting that they shouldn’t be…

Aurigami, a decentralized finance (DeFi) lending protocol, has successfully employed the services of RiskDAO, a risk management service DAO, spearheaded by B.Protocol and 1kx, to “perform a comprehensive assessment of the protocol’s risk parameters”. The latest move is in line with Aurigami’s vision of taking a proactive approach to tackling risks on the platform and boosting its capital efficiency. The recently completed RiskDAO risk assessment framework tested the risk management solutions on Aurigami, conducting a…

Celsius Network LLC sued a former investment manager, accusing him of losing or stealing tens of millions of dollars in assets before the crypto lender went bankrupt last month. In a complaint filed in Manhattan bankruptcy court, Celsius accused Jason Stone and his company KeyFi Inc of "gross negligence" and "extraordinarily inept" crypto investing, after Stone falsely portrayed himself as a pioneer in the field. Celsius said Stone proved "incapable" of deploying coins profitably, causing "many tens of millions of…

Just say no.Photo: Qreal (Shutterstock)Crypto exchanges and lenders are still struggling to “hodl” onto their employees. As companies fightto keep afloat after the most recent crypto crash, hundreds of exchanges staff are being kicked to the curb, and some are reportedly trying to keep that fact a secret.The relatively small crypto lender Hodlnaut, which boasts more than 10,000 active users and $250 million worth of assets on its platform, has been hit harder than most. On Friday, the company announced they had laid off…

Cryptocurrency lender Hodlnaut is the latest firm to respond to tumultuous market conditions by halting withdrawals (via Coindesk). In a post on its website, the Singapore-based company announced that it’s freezing withdrawals, token swaps, and deposits due to an uncertain economy that some say triggered a “crypto winter.” Hodlnaut is also rescinding its application to the Monetary Authority of Singapore (MAS) for a regulatory license that would allow the company to offer digital payment token services in the…

Hodlnaut said the move was "due to recent market conditions" and was "to focus on stabilising our liquidity and preserving assets". Hodlnaut said the move was "due to recent market conditions" and was "to focus on stabilising our liquidity and preserving assets". FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their…

Bankrupt crypto lender Voyager Digital said a recent joint proposal from FTX and Alameda Ventures was a "low-ball bid dressed up as a white knight rescue" and alleged the plan would disrupt its bankruptcy process. Under the partial bailout plan, it was announced that crypto trading firm Alameda would purchase all of Voyager's digital assets and digital asset loans, except the loans to bankrupt crypto hedge fund Three Arrows Capital. Voyager's customers could then receive some of those funds if they chose to open an…

Cryptocurrency lender Celsius Network said bitcoin mining is key to the company's restructuring efforts at a US bankruptcy court hearing recently in Manhattan. New Jersey-based Celsius received approval from US Bankruptcy Judge Martin Glenn to spend $3.7 million in construction costs at a new bitcoin mining facility and $1.5 million on customs and duties on imported bitcoin mining rigs. Patrick Nash, a lawyer for Celsius, told Glenn that bitcoin mining could provide a way for the company, which halted other business…

Celsius Network listed a $1.19 billion deficit on its balance sheet in a bankruptcy court filing, a day after the cryptocurrency lender filed for Chapter 11.New Jersey-based Celsius froze withdrawals last month, citing "extreme" market conditions, cutting off access to savings for individual investors and sending tremors through the crypto market.In the filing at the U.S. Bankruptcy Court for Southern District of New York , Celsius also said it had $40 million in claims against Singapore-based Three Arrows Capital, a…