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Crypto Lending

All articles tagged with #crypto lending

cryptocurrency2 years ago•1 min saved

SEC Delays $30M BlockFi Penalty to Prioritize Investor Repayment

The SEC has agreed to waive a $30 million fine from BlockFi until investors are repaid. The sum is what's left over from a $50 million penalty owed to the SEC by BlockFi to settle charges of failing to register with the regulator for the offering and sale of its crypto lending product. BlockFi filed for bankruptcy in November following the collapse of crypto exchange FTX. A New Jersey bankruptcy court judge said BlockFi customers can be repaid $300 million in funds held in custodial wallets on the platform.

via CoinDesk|

#bankruptcy #blockfi #crypto-lending

cryptocurrency2 years ago•1 min saved

Fahrenheit Acquires Celsius' Assets in Bankruptcy Bid

Crypto consortium Fahrenheit, including Arrington Capital and US Bitcoin Corp, has won a bid to acquire the assets of insolvent lender Celsius Network, including its institutional loan portfolio, staked cryptocurrencies, mining unit, and additional alternative investments. The deal is pending regulatory approval and requires a deposit of $10 million within three days. The new company will receive between $450 and $500 million in liquid cryptocurrency, and US Bitcoin Corp will construct a range of crypto mining facilities, including a new 100 megawatt plant. Celsius filed for bankruptcy last July after a bank-run style rush of withdrawals exposed the platform’s profound liquidity issues.

via CoinDesk|

#acquisition #bankruptcy #celsius