2022-11-21 12:50 |
Celsius has received approval for a January 3, 2023, bar date. The bar date is the deadline for Celsius users to file claims for entities held until July 13.
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Celsius Network, the bankrupt cryptocurrency lender, has received court approval for its restructuring plan as it works to emerge from bankruptcy. The plan, which allows Celsius to restructure its debts and continue operating, received a United States bankruptcy judge’s permission to commence creditor votes.
When Celsius launched back in 2017, many saw the company as one that had the potential to disrupt the industry with its crypto lending platform. Six years on, Celsius’ chapter in the crypto world seems to be ending, as recent developments will suggest.
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Explore the surging growth of derivatives at U. S. banks in our latest Alpha article, which have skyrocketed by 2,098% from 1992 to 2022, reaching a staggering value of $192. 874 trillion. This analysis sheds light on the recent regional banking collapse and the potential consequences of major banks being propped up by trillions in derivatives.
The bankrupt crypto exchange wants to recoup billions from the bankrupt crypto lender claiming it was “instrumental” to FTX’s “fraudulent” business model.
Celsius paused withdrawals last June, citing extreme market conditions.