Celsius spikes 18% higher on release of ‘Project Kelvin' recovery plan

The Celsius (CEL) token posted 18% gains in the last 24 hours to trade at $1.70 as of press time on September 14. The post Celsius spikes 18% higher on release of ‘Project Kelvin' recovery plan appeared first on CryptoSlate.

Timeline of Celsius

The downturn triggered by the bankrupt major crypto lender Celsius (CEL) continues to roll over numerous crypto businesses worldwide, but Alex Mashinsky, the firm's CEO, reportedly aims to revive the business as a custodian.

The saga that has been Celsius' downfall this year has been well documented. CEO Alex Mashinsky has been a focal point of crypto critics after his engagement in ‘taking over‘ Celsius' crypto strategy in the 11th hour before the platform's pseudo-shutdown.

Celsius: Under the new plan, the lender would pivot to storing customers' crypto in a special wallet and levying charges for transactions. The post Celsius CEO Floats Daring Plan to Resurrect the Floundering Company appeared first on BeInCrypto.

The Federal Trade Commission filed Tuesday to join the bankruptcy proceedings of crypto lender Celsius.  The post Federal Trade Commission seeks entry into Celsius bankruptcy case appeared first on The Block.

There seems to be no end in sight for the Celsius Network drama. After filing for Chapter 11 bankruptcy, the crypto lending platform will now shift its business model to crypto custody services.

Celsius CEO Alex Mashinsky is pushing for a revival of the firm around custodial services, according to a report from the New York Times. The post Celsius CEO Mashinsky held revival plan meeting: The New York Times appeared first on The Block.

Celsius (CEL/USD) price fell by as much as 17% on Monday amid an overall struggle across crypto assets. The CEL token, which had pumped by more than 13% late Sunday amid a short squeeze, fell from highs of $1.68 to place at $1.43 at the time of writing.

Celsius (CEL) entered the list of top 10 gainers in the last 24 hours after posting  the eighth highest gain for the day at 13.41%. The post Celsius token among top ten 24 hour gainers, up 13% appeared first on CryptoSlate.

Crypto lender Celsius continues to face more scrutiny from regulators amid its bankruptcy crisis. On Wednesday, the circumstances leading to the firm's failure came to question that it allegedly hid its financial troubles from its investors.

The creditor committee in Celsius's Chapter 11 bankruptcy case has reached an agreement with the DOJ on its request to appoint an examiner.  The post Creditor representatives support plan to appoint examiner in Celsius bankruptcy appeared first on The Block.