“Celsius Network, a bankrupted crypto lending company, is filing an “adversary complaint” against EquitiesFirst to reclaim its assets. Amid fraud allegations, ex-CEO Alex Mashinsky’s assets froze. Reportedly, EquitiesFirst owes Celsius $439m, part of which is repaid monthly in cash and BTC.”
Search Results for: EquitiesFirst Holdings
Bankrupt Crypto Lender’s Struggle to Recover Assets meets New Accounting Rules for Crypto-native Companies
The bankrupt crypto lender, Celsius Network, seeks to recover its properties from EquitiesFirst Holdings, following a failed collateral retrieval. Meanwhile, the Financial Accounting Standards Board approves the fair value of companies’ cryptocurrency holdings starting in 2025, generating mixed industry responses.
Bankrupt Crypto Lender versus Private Lending Platform: A Legal Wars Saga Unravels
“Bankrupt crypto lender, Celsius Network, has launched a complaint against EquitiesFirst Holdings, seeking to reclaim assets. Following claims EquitiesFirst held a $439 million debt backed by Celsius in cash and Bitcoin. This amidst Celsius’s tumultuous saga of collapsing market value, co-founder’s legal charges, and foggy future of asset buyout by potential bidders.”