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A bankruptcy judge ruled thatCelsius Network customers who had interest-bearing accounts on the platform had turned over control of their assets to the bankrupt crypto lender, meaning the deposits are part of Celsius' bankruptcy estate. U.S. Bankruptcy Judge Martin Glenn said in a court order Wednesday that Celsius' terms of service made it clear it took possession of crypto assets deposited into its Earn product, dealing a blow to customers who were hoping to recoup their deposits. Celsius held around $4.2 billion in cryptocurrencies in Earn as of last July, including $23 million in stablecoins.
The U.S. Securities and Exchange Commissionhas filed a limited objection to Binance.US' proposed $1.02 billion purchase of the assets of bankrupt crypto lender Voyager Digital.In its filing, the SEC questioned the adequacy of the information in Binance.US’ disclosure statement, specifically details on the ability of the crypto exchange to “consummate a transaction of this magnitude,” as well as how Binance.US intends to secure customer assets and details on how Binance.US would rebalance its cryptocurrency portfolio.
Coinbase will pay a $50 million fine to the New York State Department of Financial Services to settle charges that it let users open accounts without conducting sufficient background checks. The regulators found that the crypto exchange's policies violated anti-money-laundering laws. The settlement will also require COINBASE to invest $50 million over the next two years to bolster its compliance program.
- The chart shows liquid staking protocol Lido's governance LDO has breached a 10-month bear market trendline.
- "Lido, with its native LDO token, will likely disproportionately benefit from an increase in the ETH staking ratio as the protocol takes a 10% cut in the ETH staking rewards which is transferred to Lido’s treasury. Users do not have to stake it themselves, they can 'outsource' staking to Lido," Markus Thielen, head of research and strategy at crypto investment firm Matrixport, said.
- Mango Markets Exploiter Must Stay Detained Pending Trial, Court Rules
