Celsius Proposes Bankruptcy Crypto Token Issuance as Part of Restructuring Plans
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Embattled crypto lender Celsius plans to use a new bankruptcy digital currency token to pay off its creditors. According to reports, Celsius Network LLC may issue a bankruptcy crypto token to repay creditors. This development forms part of a broader “recovery corporation” scheme by the bankrupt crypto lender to remerge as a new publicly traded company. After fielding several uncompelling acquisition bids, Celsius attorneys opine that liquidating would generate fewer funds than reorganizing. Celsius Intends to Roll Out Bankruptcy Crypto Token Sooner Celsius announced that its reorganization and bankruptcy digital asset token plans could happen in “months” subject to regulatory
The embattled crypto lending platform Celsius has stored withdrawals and transfers frozen since June 12 and informed the Celsius Network group that the “process will take time.” Since then, Celsius... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go to…