Celsius Rebounds: Emerges Strong After Bankruptcy
Celsius Network exits bankruptcy, paying $3B+ to creditors and launching Ionic mining.
![image Zoey](https://image.coinlive.com/24x24/cryptotwits-static/a3b9bf7fca0a7fabb32ee0680da5c595.png)
Celsius Network exits bankruptcy, paying $3B+ to creditors and launching Ionic mining.
Cryptocurrency heavyweights like FTX and Celsius navigate post-bankruptcy challenges, with legal battles and regulatory scrutiny. Meanwhile, Voyager faces settlement fallout, while BlockFi stages a remarkable comeback. Genesis and Core Scientific grapple with complex legal issues. The crypto industry's financial drama unfolds with uncertainties, resembling a high-stakes poker game.
As the bankruptcy proceedings of Celsius Network reach their culmination, a concerning resurgence of phishing attacks has emerged, posing significant risks to the lender's creditors.
The current offer would mean selling the company to Farenheit Consortium, and customers getting between 67-85% of their money back.
The U.S. bankruptcy judge responsible for the Celsius Network case has ordered the bankrupt crypto lender to return around $44 million worth of cryptocurrencies.
The bankrupt CeFi crypto lender is about $1.2 billion in deficit, with the majority of its liabilities being customer deposits some believe they may not be required to give back.
Crypto lender Celsius Network, one of the biggest in the world, has filed for Chapter 11 bankruptcy protection, joining a ...
An unnamed source told CNBC that the company plans to file the bankruptcy paperwork "imminently."
Restructuring, bankruptcy, buyouts... media outlets are swarming with different reports on the next steps Celsius may take.