CryptoMediaClub
Sunday, June 1, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Altcoins

Judge denies stakeholders’ request for representation in Celsius bankruptcy case

25.08.2023
A A
0
125
VIEWS
ShareShare

Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the Celsius (CEL) token was a security.

In a motion filed on July 25 and heard before the United States Bankruptcy Court for the Southern District of New York on Aug. 14, investor Otis Davis asked the court to create a legal class for investors to be considered separate from Celsius Network employees and customers.

Davis also requested that the court sanction the legal team representing the Unsecured Creditors Committee (UCC) over the alleged failure to disclose required information.

The filing further asked the court to declare CEL “not a security” in light of the recent findings in the U.S. Securities and Exchange Commission (SEC) v. Ripple case, where, according to Davis, Judge Analisa Torres determined that XRP (XRP) was not a security.

Related: Breaking: Judge rules XRP is not a security in SEC's case against Ripple

It’s worth mentioning that, in the XRP case, Torres ruled that XRP was not a security in regard to programmatic sales on digital asset exchanges. In the same ruling, however, Torres said that XRP was a security when sold to institutional investors.

In the Celsius bankruptcy case, Glenn’s response was relatively swift, denying all three motions set forth just 11 days after the motion was argued in an Aug. 14 hearing.

Glenn shot down all of the motion’s requests and further added:

“[N]othing in the Motions, this Order, or announced at the Hearing constitutes a finding under the federal securities laws as to whether crypto tokens or transactions involving crypto tokens are securities, and the right of the United States Securities and Exchange Commission and the Committee to challenge transactions involving crypto tokens on any basis is expressly reserved.”

As Cointelegraph reported, the Celsius Network bankruptcy occurred on July 14, 2022. Just a year later, the company’s former CEO, Alex Mashinsky, was arrested and charged with fraud.

In the time since, Celsius has agreed to numerous settlements meant to provide relief to customers and investor groups, with the latest round set for a hearing in October.

Yesterday, the Court approved the Disclosure Statement, allowing us to begin the process of soliciting votes on the Plan. You can read our official announcement here: https://t.co/8Kzq2HfH04

— Celsius (@CelsiusNetwork) August 18, 2023

Share10Tweet6ShareSharePin2

Related Posts

Solana gains 80% in a month as Firedancer goes live on testnet
Altcoins

Solana gains 80% in a month as Firedancer goes live on testnet

02.11.2023
0

Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the...

Read moreDetails
Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

Price analysis 10/30: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

30.10.2023
Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

Bitcoin price hovers near $35K as ETH, APT, QNT and RUNE turn bullish

30.10.2023
Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

27.10.2023
FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

FLOKI price soars 140% in a week — Are memecoins like DOGE, PEPE finally waking up?

27.10.2023
Load More
Next Post
Bitcoin sails the seas: Sailor paints giant ‘B’ on boat to promote crypto across the waves

Bitcoin sails the seas: Sailor paints giant ‘B’ on boat to promote crypto across the waves

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Chainlink Releases New Node Software V2 Boosting Operational Efficiency

Chainlink Releases New Node Software V2 Boosting Operational Efficiency

2 years ago
OKX Announces Termination of Accounts Linked to Tornado Cash to Uphold Compliance

OKX Announces Termination of Accounts Linked to Tornado Cash to Uphold Compliance

10 months ago
ByBit Fraudster Ho Kai Xin Will get Virtually Decade Behind Bars For Large Scheme

ByBit Fraudster Ho Kai Xin Will get Virtually Decade Behind Bars For Large Scheme

3 months ago

Ethereum’s Post-Shanghai Upgrade Activity Disappoints, JPMorgan Analysts Report

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Ethereum Price Prediction: ETH at $2,517 After Sharplink Gaming’s $48M Institutional Buy-in News — SEC Filing Sparks Bullish Sentiment

BlackRock’s IBIT Sees $430M Outflow, Ending 31-Day Inflow Streak

FTX Recovery Trust Begins $5B Second Payout to Creditors

Solana Price Prediction: SOL Falls to $154.40 With 11.7% Week Decline – Can It Bounce Back to $200?

Nigel Farage Vows Pro-Crypto Bill, Bitcoin Reserve If Elected UK PM

Bitcoin Price Prediction: BTC Slips Below $105K as Global Policies Shif

Trending

Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 
All news

Banana Gun’s 88% Snipe Wins To Be Eclipsed By Snorter Token, New Solana Meme Trading Bot Raises $260,000 in 2 Days 

01.06.2025
0

Banana Gun’s crypto trading bot has an 88% sniping win rate on Ethereum, while the new Solana...

Two NYPD Allegedly Officers Caught in Crypto Kidnapping Storm, Duties Curtailed

Two NYPD Allegedly Officers Caught in Crypto Kidnapping Storm, Duties Curtailed

01.06.2025
Bitcoin Price Prediction: Post-$827M Liquidation Carnage – Can BTC Reclaim $104k Amid ETF Inflows?

Bitcoin Price Prediction: Post-$827M Liquidation Carnage – Can BTC Reclaim $104k Amid ETF Inflows?

01.06.2025
Ethereum Price Prediction: ETH at $2,517 After Sharplink Gaming’s $48M Institutional Buy-in News — SEC Filing Sparks Bullish Sentiment

Ethereum Price Prediction: ETH at $2,517 After Sharplink Gaming’s $48M Institutional Buy-in News — SEC Filing Sparks Bullish Sentiment

31.05.2025
BlackRock’s IBIT Sees $430M Outflow, Ending 31-Day Inflow Streak

BlackRock’s IBIT Sees $430M Outflow, Ending 31-Day Inflow Streak

31.05.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz