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Celsius Network hires advisors to prepare for potential bankruptcy – WSJ
Abstract： Celsius Network LLC has hired restructuring consultants from advisory firm Alvarez & Marsal to advise on a possible bankruptcy filing, the Wall Street Journal reported https://www.wsj.com/amp/articles/celsius-network-taps-more-advisers-to-prepare-for-potential-bankruptcy-11656088078?mod=Searchresults_pos1&page=1 on Friday, citing people familiar with the matter.
The New Jersey-based cryptocurrency lending company froze withdrawals and transfers earlier this month due to “extreme” market conditions, in the latest sign of the financial market downturn hitting the cryptosphere.
A separate report from CoinDesk said https://www.coindesk.com/business/2022/06/24/goldman-sachs-raising-funds-to-buy-celsius-assets-sources on Friday that Wall Street bank Goldman Sachs was looking to raise $2 billion from investors to buy distressed assets from Celsius.
The proposed deal would allow investors to buy the assets at potentially big discounts if the cryptocurrency lender files for bankruptcy, according to the report, which cited two people familiar with the matter.
Celsius had $11.8 billion in assets as of last month. The company and Alvarez & Marsal did not immediately respond to Reuters requests for comment.
The market for digital assets has in recent months been roiled by extreme volatility as investors dump risky assets on fears that aggressive interest rate hikes to tame stubborn inflation could plunge the economy into recession.
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CySEC warns against 10 unauthorized investment firms
The Cyprus Securities and Exchange Commission (CySEC) has issued a public warning against 10 unauthorized investment firms that are illegally offering investment services to investors.
Original 16h
Voices of the Golden Insight Award Jury | Nattachai Chalermwat, MH Markets
WikiFX Golden Insight Award uniting industry forces to build a safe and healthy forex ecosystem, driving industry innovation and sustainable development, launches a new feature series — “Voices of the Golden Insight Awards Jury.” Through in-depth conversations with distinguished judges, this series explores the evolving landscape of the forex industry and the shared mission to promote innovation, ethics, and sustainability.
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Apex Markets Review: Traders Outraged Over Withdrawal Denials & Other Trading Issues
Struggling to access fund withdrawals from Apex Markets for months? Does the broker remain silent on fund withdrawal issues? Does the Saint Vincent and the Grenadines-based forex broker reject your winning trades? Have you failed to get a refund into the card used for deposits? Did the broker deduct from your trading account instead? Traders have been imposing these scam allegations while sharing the Apex Markets Review online. We read the reviews and shared some of them below. Take a look!
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tastyfx Exposed: Fund Losses, Trade Manipulation & Account Related Hassles Hurt Traders
Are fund losses normal for you at tastyfx? Does the US-based forex broker constantly manipulate prices to hit your trading experience? Do you fail to receive a reply from the broker on your fund withdrawal requests? Do you constantly face trading account issues with tastyfx? It’s time to read the tastyfx review shared by traders online.
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