ChainCatcher message, the crypto lending institution Nexo has reopened registration for UK customers after a series of upgrades to meet the compliance requirements of the UK's Financial Conduct Authority (FCA).This upgrade was implemented in collaboration with Gateway 21 (an FCA-authorized and regulated financial promotion approval body), and the changes include providing a cooling-off period and dedicated risk warnings for UK customers. Users are also required to complete an investor classification questionnaire and a suitability assessment before using the platform, which has become standard practice for cryptocurrency companies serving UK customers.

ChainCatcher news, according to Fortune, the crypto lending platform Arch has announced the completion of a $5 million seed round financing, led by Morgan Creek Digital and Castle Island Ventures. At the same time, Galaxy is providing $70 million in debt financing. This funding will be used to serve institutional clients and individual investors.Arch was founded in February 2022 by finance veterans Dhruv Patel and Himanshu Sahay, aiming to revitalize the crypto lending industry that has been hindered by the collapse of companies like BlockFi and Genesis.Max Bareiss, Vice President of Galaxy's lending division, revealed plans to securitize the debt financing, allowing institutional investors to purchase and trade it on the secondary market through crypto-native channels. Arch currently has 5 full-time employees and plans to expand its team, with plans to launch additional investment products later this year.

ChainCatcher news, the crypto lending platform BlockFi tweeted that it will discontinue its iOS and Android mobile applications in the coming weeks. After that, users will only be able to access the BlockFi platform through the website. Important customer update information will continue to be posted on the website, and customer communications will only be sent via official email, Twitter, or claims agent Kroll.

ChainCatcher news, according to Reuters, Belgian cryptocurrency lending platform Bit4You announced that it will suspend services after one of its main service providers, CoinLoan, was declared bankrupt by an Estonian court on April 24.According to the statement, CoinLoan holds a significant proportion of Bit4You's customer assets, approximately 85.66% of XRP, about 81.45% of BTC, and 67.32% of ETH. Bit4You stated, "So far, there are no signs that our customers cannot recover the virtual currencies held by CoinLoan." (source link)

ChainCatcher news, the bankrupt crypto lending platform Voyager tweeted that it has received a letter from Binance.US terminating its asset purchase agreement. Although this outcome is disappointing, it will allow for the direct distribution of cash and cryptocurrencies to customers through the Voyager platform according to its bankruptcy plan. Voyager will take swift action and provide more information in the coming days.Additionally, according to the terms of the asset purchase agreement, Binance.US is required to destroy all customer information it has received and permanently close and remove any accounts established using Voyager customer information. (Source link)

ChainCatcher news, Alpha Homora has issued the third open letter to the lending platform Iron Bank on Ethereum. Previously, Iron Bank froze Alpha Homora's loan accounts on March 1 due to bad debt disputes. Alpha Homora believes that confiscating users' funds is not a solution and has publicly proposed a bad debt resolution: 1. Iron Bank will return customer funds that are not on Ethereum; 2. Of the approximately $41 million on Ethereum, Iron Bank will transfer about $11 million to users. The approximately $11 million represents the net bad debt amount of user deposits, excluding accrued interest. 3. For the remaining approximately $30 million, detailed information on how to handle it will be shared with the community within one week after Iron Bank agrees to the above resolution.Previously, Iron Bank announced that as of March 2, Alpha Homora currently owes about $32 million. Iron Bank had requested Alpha Homora to add collateral within three days on February 14, but Alpha Homora did not take action. Due to the continuous decline in the price of the collateral ALPHA token, Iron Bank demanded that Alpha Homora repay the loan by 7:00 AM Beijing time on March 6, or it would liquidate its debt. If Alpha Homora repays the loan, Iron Bank will unlock its account and release the collateral tokens. (source link)

ChainCatcher news, according to Bloomberg, potential investors have expressed interest in acquiring the crypto lending platform Hodlnaut and its claims against FTX, and have contacted Hodlnaut's interim judicial manager. Documents seen by Bloomberg indicate that the judicial managers are signing confidentiality agreements with potential investors.The documents show that as of December 9, Hodlnaut Group owes a total of $160.3 million to Algorand Foundation, Samtrade Custodian, SAM Fintech, and Jean-Marc Tremeaux, accounting for 62% of the outstanding debt. Additionally, documents from November 2022 indicate that Hodlnaut's assets on FTX accounted for 72% of its assets deployed on centralized exchanges, approximately $14 million. (Bloomberg)

ChainCatcher News, the California Department of Financial Protection and Innovation (DFPI) will suspend the license of the cryptocurrency lending platform Salt for 30 days, pending the department's investigation into Salt's recent announcement to restrict its platform activities (including pausing customer withdrawals).ChainCatcher reported yesterday that the cryptocurrency lending platform Salt Lending sent an email to its customers stating that, due to the impact of the FTX collapse, it is suspending deposits and withdrawals on its platform, but did not specify the extent of its risk exposure. (Source link)

ChainCatcher news, the crypto lending platform Celsius has incurred over $3 million in legal fees during its bankruptcy proceedings, with the law firm Kirkland and Ellis charging nearly $2.6 million from July 13 to July 31, and Akin Gump charging nearly $750,000 for its services from July 13 to August 31.It is reported that Celsius has $2.8 billion in crypto debt, and Kirkland & Ellis expects Celsius to face nearly $40 million in losses by the end of October. (The Block)

Chain Catcher news, according to documents submitted to the U.S. Bankruptcy Court for the Southern District of New York on Monday, the crypto lending platform Celsius has set its asset auction date, with the bidding deadline at 4:00 AM Beijing time on October 18. If necessary, the auction will take place at 10:00 PM Beijing time on October 20, and the sale deadline is at 4:00 AM Beijing time on October 26. The documents state that a sale hearing will be held via Zoom before U.S. Chief Bankruptcy Judge Martin Glenn at 11:00 PM Beijing time on November 1, and it is expected that there will be a large number of participants.Earlier news reported that FTX CEO Sam Bankman-Fried (SBF) is considering bidding for the assets of the bankrupt crypto lending platform Celsius Network. (source link)

Chain Catcher News, the cryptocurrency lending platform Nexo is currently facing joint enforcement actions from securities regulators in several states including California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. This is due to Nexo's Earn Interest Product (EIP) potentially violating securities laws.Securities regulators stated that since June 2020, Nexo has "offered and sold unqualified securities to the public and local residents in the U.S. in the form of Earn Interest Product accounts." They have also accused Nexo of acting as an "unregistered securities broker or dealer," demanding that it cease offering such product services and indicating that actions will be taken against it. (Bitcoin.com)

According to ChainCatcher news and reported by CoinDesk, the cryptocurrency lending platform Nexo has launched a new trading platform called Nexo Pro, which supports spot, futures, and margin trading. This trading platform will aggregate liquidity from over 10 trading platforms and market makers.It is reported that the launch of Nexo Pro marks Nexo's first foray into cryptocurrency derivatives trading services. (source link)