Category: Celsius

Celsius acquires high-security custodian GK8 for $115 million

Celsius acquires high-security custodian GK8 for $115 million

Crypto lending platform Celsius is acquiring a high-security custodian, announcing the purchase of Israeli-based GK8 for $115 million. GK8 touts its platform as an all-in-one custody platform for banks, supporting hundreds of tokens in addition to some staking and decentralized finance protocols. The firm provides an air-gapped vault to mitigate cyberattacks and is so confident […]

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Less than three weeks in, quarterly investment in European crypto companies hits new highs

Less than three weeks in, quarterly investment in European crypto companies hits new highs

Investment in crypto and DeFi businesses in Europe has already surpassed quarterly records, just a few weeks into the fourth quarter. Data from startup analytics platform Dealroom puts fourth quarter investment in crypto businesses in Europe and the United Kingdom at €793 million (roughly $925 million). The bulk of that total comes from massive fundraises […]

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New York joins crackdown on crypto lending, seemingly targeting Nexo and Celsius

New York joins crackdown on crypto lending, seemingly targeting Nexo and Celsius

On October 18, the New York Attorney General Letitia James announced cease and desist letters to two cryptocurrency lending firms. Another three firms received requests for information on corporate ownership and handling of user deposits. The Office of the Attorney General (OAG) redacted the names of the firms under scrutiny. However, the cease-and-desist retained the […]

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Celsius raises $400 million amid mounting regulatory pressure

Celsius raises $400 million amid mounting regulatory pressure

Crypto lending firm Celsius Network has raised more than $400 million in a funding round led by growth equity firm WestCap, the company announced Tuesday.  The raise—which values the firm at $3 billion—has closed as state regulators across the US are scrutinizing the company’s offerings. In September, New Jersey’s securities regulator ordered crypto lending platform […]

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Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

Tether’s assets include $1 billion with crypto lending platform Celsius: Bloomberg

In the course of an investigation into Tether published on October 7, Bloomberg’s Zeke Faux unearthed new information as to the assets backing Tether’s USD-pegged stablecoin. With a current supply of $72.6 billion according to The Block’s data, Tether’s backing has long attracted major interest. Controversy over that backing has proved central to developing standards […]

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Kentucky Sends Cease and Desist Order to Crypto Lending Platform Celsius Over Interest-Bearing Accounts

Kentucky Sends Cease and Desist Order to Crypto Lending Platform Celsius Over Interest-Bearing Accounts

Six days ago, the securities regulators from New Jersey and Texas cracked down on the cryptocurrency lending platform Celsius. Additionally, the Alabama Securities Commission joined in and filed a cease and desist order against Celsius. Now the state of Kentucky is following suit and has filed a cease and desist order against the crypto lending […]

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Kentucky regulator orders Celsius to stop offering crypto accounts

Kentucky regulator orders Celsius to stop offering crypto accounts

Crypto lending company Celsius has been ordered to stop offering interest-bearing accounts in the U.S. state of Kentucky. The state’s securities regulator issued an emergency cease and desist notice on September 24, becoming the fourth state regulator to take action against Celsius in recent days. Regulators in New Jersey and Texas moved against the crypto […]

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New Jersey delays effective date of cease-and-desist order for BlockFi until December

New Jersey delays effective date of cease-and-desist order for BlockFi until December

A New Jersey cease-and-desist for new interest accounts at crypto lender BlockFi will take effect on December 1, per an extension that the firm announced on Wednesday.   The New Jersey Bureau of Securities signed off on this third extension of its cease-and-desist order, according to BlockFi. The securities regulator initially issued its order back in […]

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Alabama’s securities regulator is also scrutinizing crypto lender Celsius

Alabama’s securities regulator is also scrutinizing crypto lender Celsius

The securities regulator for Alabama issued a show-cause order on Thursday to Celsius, seeking an explanation from the crypto lending platform for why its offerings don’t constitute the sale of securities under state law. The order precedes actions by Texas and New Jersey, which on Friday moved to launch administration actions against Celsius — in […]

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Securities Watchdogs File Orders Against Crypto Lender Celsius

Securities Watchdogs File Orders Against Crypto Lender Celsius

A news release published by the New Jersey government web portal indicates that the cryptocurrency lending platform Celsius has been sent a cease and desist order from the New Jersey Bureau of Securities. Furthermore, the Texas State Securities Board has ordered Celsius to appear at a hearing and is also threatening with a cease and […]

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