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Source: iStock/danielvfung Aaron Iovine, a former executive at bankrupt crypto lender Celsius (CEL), has found a new job, joining U.S. investment bank JPMorgan Chase & Co as the company’s executive director of digital assets regulatory policy. Iovine previously served as the head of policy and regulatory affairs at Celsius, which he left in September following an eight-month stint. A spokesperson for JPMorgan confirmed that he was hired, but declined to disclose additional details, Reuters reported.  It is yet to be seen how Iovine will cooperate with his boss, Jamie Dimon, the chairman and CEO of JPMorgan, who recently told the U.S. Congress that cryptos were “decentralized Ponzi schemes”. With this statement, the executive confirmed his reputation of a crypto-skeptic willing to go to lengths to criticize the crypto industry. At the same time, Dimon said that he accepts the added value of blockchain, decentralized finance (DeFi), “to...

At the beginning of August, crypto bank Nuri filed for insolvency in Germany. It attributed major crypto sell-offs, insolvency of Celsius, and other crypto funds as a reason for its move. The bank, notably, had around 500,000 customers and said that the insolvency will not affect its services, customer funds, investments, or the ability for customers to withdraw their assets from the platform.  In a fresh revelation on Tuesday, the bank said that it is “closing down” its business operations. Owing to the business liquidation, it has asked all its users to withdraw funds from their accounts by 18 December at the latest. During the preliminary insolvency proceedings, the crypto bank worked closely with its insolvency administrators on a restructuring plan that included finding a potential acquirer. However, they weren’t able to find investors. The released blog post stated, Customers have access and will be able to withdraw all funds until the afore...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto network Celsius has been hammered by bankruptcy procedures, revealing the recklessness of its management and their incapacity to reimburse creditors. A new dispute surfaced on Thursday after Gizmodo posted a 14,532-page court file to the Internet Archive. The drawback? The file included the user identities and purchase histories of every person who had ever used the service. The file confirmed, for example, that Celsius executives had withdrawn huge sums of money from the site before suspending withdrawals, but the public instantly labeled Celsius’s data sharing as “ doxxing&rdquo ; on social media. Named Celsius users’ on-chain activities and addresses might be easily linked to certain times and dollar amounts by anybody. Legal Requirement for Celsius Experts in law and identity say Celsius had to take the step, but that it highlighted the risks associated with trusting a centr...