US Senator blames SEC for Celsius' collapse

US Senator Pat Tomey has called out the Securities and Exchange Commission over their role in the build-up to investors losing funds deposited on Celsius. The crypto lending platform announced some weeks ago that it was suspending withdrawals, holding on to investors' funds.

Timeline of Celsius

Celsius has revealed that a list of its users' email addresses was stolen by a Customer.io employee during the same data breach that affected the NFT marketplace OpenSea in late June.

After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm's vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.

Celsius customer emails were leaked in the same Costumer.io data breach that impacted OpenSea. The post Celsius also hit by Costumer.io email data breach appeared first on The Block.

Celsius has filed a motion to enter into an advisory agreement with former CFO Rod Bolger. Celsius believes Bolger's experience, knowledge, and familiarity with the business can help it move forward.

Crypto lending platform Celsius Network has petitioned the US Bankruptcy Court to grant it permission to re-engage Rod Bolger, its former Chief Financial Officer for resuming consultation.

Tether's (USDT) liquidation of the $840 million loan it gave to Celsius could be under scrutiny under bankruptcy law to determine if the process was valid, the Financial Times reported July 26. The post Tether's $840M Celsius loan liquidation poses legal troubles appeared first on CryptoSlate.

Celsius has submitted a motion to bring back its former CFO to provide his expertise on the company's financial situation. The post Celsius wants to bring on former CFO as adviser for bankruptcy proceedings appeared first on The Block.

A new class action lawsuit against TerraForm Labs and its CEO, Do Kwon, was filed by Bragar Eagel & Squire, P.C. The post Terra, Celsius hit with class action lawsuits in the US appeared first on CryptoSlate.

Crypto exchange Coinbase has confirmed that the company “had no financing exposure” to bankrupt firms, including Celsius Network, Voyager Digital, and Three Arrows Capital (3AC). “The issues here were foreseeable and actually credit-specific, not crypto-specific in nature,” Coinbase stressed.

Singapore-based crypto exchange Zipmex declared on Thursday that it has a total of $53 million worth of funds in exposure to crypto lenders Celsius Network and Babel Finance. The latest development comes barely a day after Zipmex halted withdrawals of users' funds on Wednesday.