In a frenzied effort, investors are trying to recover lost funds from Celsius Network, a crypto firm that imploded this summer.
David Little was starting to lose hope. Like thousands of other investors, he lost a large chunk of his cryptocurrency savings — which at one point accounted for more than half his net worth — when the experimental crypto bank Celsius Network filed for bankruptcy this summer.
Then he had an idea. In July, Mr. Little, a 35-year-old engineer in Houston, wrote a letter to the U.S. Bankruptcy Court for the Southern District of New York, arguing that he and others who had deposited their digital currencies in a special type of Celsius account should be able to withdraw the funds. Soon he started getting calls from fellow depositors — a man who was struggling to pay rent, a woman who had lost her retirement savings.
Mr. Little started a group chat that grew to include hundreds of Celsius customers. Within days, they raised $100,000 to hire the law firm Togut,...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...