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.
- 16:48A whale from a 2015 ICO that acquired 76,000 ETH has liquidated all its ETHAccording to monitoring by @ai_9684xtpa, the "whale that received 76,000 ETH during the 2015 ICO" has liquidated all its ETH half an hour ago. Half an hour ago, this ICO whale deposited 2,000 ETH, approximately $3.66 million, into a CEX again.
- 16:47Tether CEO: EU's Stablecoin Regulatory Framework May Trigger a Wave of Local Bank ClosuresTether CEO Paolo Ardoino criticized the EU's stablecoin regulatory framework in an interview with the Less Noise More Signal podcast. The framework forces stablecoin companies like Tether to keep most of their reserves (up to 60%) in uninsured bank deposits. Due to the combined impact of high-risk loans and new cryptocurrency rules, Europe may soon face a wave of bank failures. Paolo Ardoino added that the European regulatory system aims to help eurozone banking institutions by bringing more liquidity, but this has created a "huge systemic risk" because large European banks like UBS will not integrate stablecoins into the banking system, ultimately forcing stablecoin issuers to choose smaller banks, further exacerbating the risk.
- 16:47Buffett: We Have Not Conducted Any Stock Buybacks So Far This YearAt the Berkshire Hathaway shareholders meeting, Buffett stated that so far this year, we have not conducted any stock buybacks, and our company's buyback mechanism is relatively conservative. The buyback of the company's own stock will incur high taxes, "which does indeed slightly reduce the attractiveness of buybacks," Buffett said, adding that if the company believes its stock is almost certainly undervalued, it will proceed with stock buybacks.