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Crypto lender Celsius backed its token, benefiting insiders – the US bankruptcy examiner

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SINGAPORE/LONDON, Jan 31 (Reuters) – Bankrupt crypto lender Celsius Network used investor money and customer deposits to back its own token, inflating its balance sheet while two of its founders cashed in millions, a report issued by a U.S. court investigator said. . Tuesday showed. Crypto lenders like Celsius have boomed during the COVID-19 pandemic, …

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Crypto lender Genesis has claimed $5.1 billion in liabilities since November

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Crypto lender Genesis reported a total of $5.1 billion in liabilities shortly after it stopped its customers from withdrawing funds from the platform in November, according to the company’s bankruptcy filings. Genesis Global Holdco LLC and two of its credit subsidiaries, which filed for bankruptcy protection Thursday in New York, are the latest crypto firms …

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Cuban faces scrutiny over promotion of bankrupt crypto lender

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Cuban was fired as part of a class-action lawsuit accusing him of promoting a “Ponzi scheme” at Voyager Digital. DALLAS – Dallas Mavericks owner Mark Cuban will face questioning next month as part of a deposition in a class-action lawsuit against now-bankrupt cryptocurrency lender Voyager Digital, claiming the company is an “unregulated and unsustainable fraud.” …

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