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Emerging from a financial quagmire, crypto lender Celsius receives court approval for a bankruptcy exit plan that leans on crypto mining operations to repay its creditors.
Amidst bankruptcy, Celsius Network offers hope with a robust restructuring strategy aiming to make payments to its clients by year-end and charting a new trajectory in the crypto world.
Breaking: #Celsius Network's former chief revenue officer admits to crimes, potentially tightening the case against CEO Mashinsky. Stay informed on the unfolding drama.
As the crypto landscape faces tumultuous changes, Mashinsky's legal troubles highlight the challenges industry leaders confront in this evolving market.
"Steve Kokinos, former Algorand CEO, takes on leadership at Celsius amidst its financial struggles. With creditor involvement and a new board in place, Celsius embarks on a transformative journey in the crypto landscape."
Delve into the week's explosive crypto stories, from multimillion-dollar hacks to pressing legal battles. Explore the narrative of the industry's highs and lows.
According to a new report from investment firm Bank of the Future, bankrupt Celsius could potentially repay its debts depending on the prices of Bitcoin and Ethereum.
Celsius, which has obtained permission from the US court to convert altcoin assets into Bitcoin and Ethereum, is making transfers to sell its altcoins.