Celsius

Tether has agreed to provide $300 million funding to settle a bankruptcy dispute with Celsius following the crypto lender's 2022 bankruptcy and its subsequent $3 billion creditor distribution. The Blockchain Recovery Investment Consortium (BRIC), established by GXD Labs and VanEck, played a key role in this recovery process, approved by the U.S. Bankruptcy Court in New York.

Alex Mashinsky, founder of the bankrupt crypto firm Celsius, was sentenced to 12 years in prison after pleading guilty to fraud charges linked to the company's downfall.

Alex Mashinsky, the founder of the Celsius Network, has been sentenced to 12 years in prison for defrauding customers and manipulating the value of CEL tokens. His actions, which siphoned over $48 million from investors, come to light as regulatory scrutiny in the crypto space intensifies.