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☆ Crypto lender Celsius Network cleared to exit bankruptcy
▼ + stars: | 2023-11-09 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Nov 9 (Reuters) - Crypto lender Celsius Network received U.S. bankruptcy court approval for a restructuring plan that will return cryptocurrency to customers and create a new company owned by Celsius creditors. Crypto lenders BlockFi and Voyager Digital were wiped out in bankruptcy, and cryptocurrency exchange FTX remains stuck in Chapter 11 proceedings. In addition to their stake in the new company, Celsius customers will receive a partial repayment of the cryptocurrency assets they deposited on the platform. Celsius had 600,000 customers who held about $4.4 billion in interest-bearing Celsius accounts when it filed for bankruptcy, according to court documents. The restructuring plan includes a settlement that values Celsius's proprietary crypto token, CEL, at 25 cents.

Persons: Dado Ruvic, Martin Glenn, Michael Arrington, BlockFi, Arrington, Alex Mashinsky, Mashinsky, Dietrich Knauth, Alexia Garamfalvi, Lisa Shumaker, Bill Berkrot Organizations: REUTERS, Bankruptcy, LLC, Arrington Capital, Voyager, Nasdaq, Thomson Locations: Manhattan, New Jersey, New York

☆ Hawkish tech critics have labeled San Francisco 'lawless' following the stabbing death of Cash App creator Bob Lee. The city's crime rate tells a different tale.
▼ + stars: | 2023-04-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

The stabbing death of Cash App creator Bob Lee spurred fresh criticism of San Francisco crime. While critics call the progressive city "lawless" with "horrific" crime, violent offenses are down. Compared with cities of similar size, San Francisco has far fewer homicides per year. Michael Arrington, the founder of the industry blog TechCrunch, agreed, posting "I hate what San Francisco has become." Representatives for the San Francisco Police Department, as well as Ocko, Musk, Arrington, and Benedicto, did not immediately respond to Insider's requests for comment.

☆ Cash App creator and former Square CTO Bob Lee has died after a reported stabbing in San Francisco
▼ + stars: | 2023-04-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Bob Lee died after a stabbing on Tuesday morning, NBC Bay Area reports. He created Cash App while working as Square's CTO, before moving on to MobileCoin. "Bob was a force of nature," said MobileCoin CEO Joshua Goldbard. It was there that he created Cash App, the mobile payment app which rivals Venmo. "Bob was a force of nature," MobileCoin CEO Joshua Goldbard told Insider.

☆ Takeoff’s killing: Details from the coroner’s report and Offset’s subtle tribute
▼ + stars: | 2022-11-03 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —New details regarding the death of Takeoff have been revealed as the artist continues to be mourned. Takeoff, who came to fame as one-third of the platinum-selling rap group Migos, was shot and killed early Tuesday at a private party in Houston, Texas. The Harris County Medical Examiner’s Office listed the manner of death as homicide with “penetrating gunshot wounds of head and torso into the arm” stated as the cause of his death. “That’s why I don’t even really post like that, or if I do, I post after I left the spot. I post tomorrow or the next day and you think I’m at a location.

CNN —Houston officials vowed to deliver justice in the killing of rapper Takeoff, with the chief of police calling the 28-year-old Atlantan a “peaceful” man and urging any witnesses to the shooting to come forward. There were roughly 40 people at the event, many of whom left “possibly out of fear,” Houston Police Chief Troy Finner said. “This great city, with our great citizens, with our police department – we will find who’s responsible for it. Finner was clear, however, that investigators do not believe Takeoff was “involved in anything criminal at the time,” he said. Rap star was on an upward trajectoryThe news of Takeoff’s death was a blow to the hip-hop community, still reeling from the fatal shooting of rapper PnB Rock in September.

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