Regulation
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Creditors of the crypto company Celsius have taken legal action against Equities First. This company is involved in the bankruptcy of a digital platform. It became known that such a decision was made by the former CEO of the company Alex Mashinsky.
Earlier, the entrepreneur said that his organization borrowed money from Equities First, and when the company tried to repay the loan, their partner was unable to return the collateral. Mashinsky noted that Celsius still owes $439 million to customers, but has initiated a lawsuit because it is not going to lose its collateral.
At the moment, experts are looking for information about the Celsius and Equities First loan agreements, any transfer of cash or cryptocurrency between the companies, as well as the reason for the second’s inability to pay collateral.
Social media users continued heated discussions of the situation with companies and tried to understand who is right and who is wrong, but did not come to a common denominator. Celsius has become one of the largest companies to fail due to the market downturn this summer. Now the management is trying to pay off creditors, even after declaring itself bankrupt.
Yesterday, state authorities in the state of Texas (USA) raised their objections to Celsius’ plan to sell stablecoin assets. Hearings in this case are scheduled for October 6, 2022 and will be held in New York. It was also recently reported that Sam Bankman-Fried, who heads the FTX exchange, may take part in trading for the virtual assets of a bankrupt crypto lender.
Earlier, the editors of Crypto.ru reported: the head of Celsius Network, Alex Mashinsky, decided to resign and resigned from his post this week. However, he will remain with the company and continue to work as an executive director.
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