Celsius
Catching up on a mere 11 days' worth of news.
U.S. District Judge John Koeltl granted a continuance for former Celsius CEO Alex Mashinsky’s trial start date, citing the “volume of discovery” and the “complexity of the case.”
Alex Mashinsky was arrested earlier this month on fraud and price manipulation charges.
Crypto securities ruling could impact pricing of CEL token but won’t affect restructuring plans, the counsel said.
Mike Novogratz’s Galaxy Digital purchased self-custody platform GK8 from Celsius in December as part of bankruptcy proceedings.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The arrest of the bankrupt crypto lender’s co-founder and ex-CEO Alex Mashinsky comes as lawmakers and regulators squabble over new rules for the sector.
Users will be able to convert their FTX or Celsius claims into the platform's reborn OX (reOX) or oUSD tokens.
The founder of the bankrupt crypto lender has pleaded not guilty to charges including fraud and manipulation of the CEL token.
That includes customer recoveries, the company said Thursday.
- 17:08Trader Eugene: ETH Appears Resilient, Has Opened Long Positions on ETH and SUIAccording to ChainCatcher, trader Eugene Ng Ah Sio stated on his personal channel, "Today, based on the overall defensiveness of altcoins against BTC, I have opened some long positions. These are short-term trades on a low time frame (LTF), not holdings on a high time frame (HTF), but ETH appears resilient enough to hold the $3,500 level. I currently hold long positions in ETH and SUI. If ETH falls below the $3,500 low, the trade will be invalidated."
- 16:57Dragonfly Partner Responds to Potential DOJ Charges: Prepared to Fully Defend OurselvesAccording to Jinse Finance, Dragonfly partner Haseeb responded to reports that "the U.S. Department of Justice is considering bringing charges against Dragonfly employees in connection with the Tornado Cash case," stating, "In August 2020, Dragonfly invested in PepperSec, Inc., the developer of Tornado Cash, because we firmly believe in the importance of open-source privacy protection technology. Prior to the investment, Dragonfly obtained external legal opinions confirming that the construction of Tornado Cash complied with legal requirements and adhered to the guidelines issued by FinCEN, a division of the U.S. Treasury Department, in 2019. The U.S. government has now publicly stated in court that they are considering charges against Dragonfly. On the advice of our lawyers, we have so far refrained from making public comments, but we have decided not to remain silent any longer." "We firmly believe that Americans have a right to privacy, and the lack of privacy remains one of the biggest unresolved issues in the cryptocurrency space. Therefore, we stand by our investment decision. It is outrageous and contrary to both facts and the law to bring charges against Dragonfly after so many years, and it will have a chilling effect on all investment in crypto and privacy protection technologies in the United States. Dragonfly intends to vigorously defend itself."
- 16:57Another Ancient Bitcoin Whale Awakens After 14.5 Years, Transferring Holdings Worth Approximately $457 MillionAccording to Jinse Finance, on-chain analyst Ai Yi (@ai_9684xtpa) has observed that the selling pressure from an ancient whale holding 80,000 BTC is nearing its end, while another ancient whale, dormant for 14.5 years, may be preparing to sell. The address "bc1qsea3m" made its first outbound transfer since January 2011 yesterday. Two hours ago, the receiving address transferred 50 BTC to the address "bc1q5," whose ownership is unknown but has previously interacted with addresses associated with an exchange, B2C2, and Galaxy Digital. This ancient whale currently holds 3,963 BTC, worth approximately $457 million, with an acquisition cost as low as $0.32 per BTC.