BlockFi opens crypto withdrawals for eligible US users following court order
The lending platform halted client withdrawals amid filing for bankruptcy in November 2022, but later petitioned the court for authorization to return user funds.This post was originally published on this site
Bankrupt Celsius to spend $24M from GK8 sale on legal expenses
After buying GK8 for $115 million in 2021, Celsius is selling it for $25 million, spending 96% of the sale proceeds on legal fees.This post was originally published on this site
3 reasons why Bitcoin’s price is primed to hold the $30,000 level as support
Bitcoin price has been showing weakness near the $30,000 level, but multiple data points highlight the fact that bears remain at a disadvantage. This post was originally published on this site
Singapore to require crypto firms to put user assets into trusts by year-end
MAS is also working to restrict crypto service providers from facilitating lending or staking for retail customers, but not for institutional ones.This post was originally published on this site
Thai SEC bans the use of customer crypto assets for lending and investment
Investor protection regulations have been under discussion since September 2022 amid the crypto lending crisis that saw firms such as BlockFi and Celsius declare bankruptcy.This post was originally published on this site
SEC waives BlockFi’s $30M fine until creditors are paid
The U.S. SEC was at the top of BlockFi creditor’s list with a $30-million settlement balance from February 2022.This post was originally published on this site
Cosmos-based DeFi lending protocol Nolus joins Cointelegraph Accelerator
Nolus’ DeFi lending protocol aims to onboard more people by solving collateralization inefficiencies.This post was originally published on this site
BlockFi used customer money to buy $30M insurance, creditors claim
BlockFi said last Friday that it might not generate value for creditors by selling its cryptocurrency lending platform.This post was originally published on this site
Blur introduces NFT perpetual lending protocol
Borrowing positions automatically roll their expiry and can be refinanced should one party unilaterally decide to terminate. This post was originally published on this site
Crypto lender BlockFi is granted extra time to file Chapter 11 exit plan
BlockFi was granted a 48-day extension by a New Jersey bankruptcy judge to submit an exit plan, exploring a potential sale of company assets and restructuring.This post was originally published on this site