The regulator believes 'Celsius is deeply insolvent and lacks the assets and liquidity to honor its obligations to account holders and other creditors.' crypto cryptocurrency
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital .Crypto lender Celsius Network announced Wednesday that it has “filed voluntary petitions for reorganization under Chapter 11 of the U.S.
Noting that it will continue to operate, the company explained: “Celsius has $167 million in cash on hand, which will provide ample liquidity to support certain operations during the restructuring process.”
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