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Celsius Network files for bankruptcy
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finextra.comThe firm, which was valued at $3.25 billion on a $750 million Series B financing round in November, allowed its 1.7 million users to deposit their bitcoin, ethereum and tether and receive weekly interest payments.On announcing bankruptcy proceedings, founder Alex Mashinsky told the Wall Street Journal: “This is the right decision for our community and company. I am confident that when we look back at the history of Celsius, we will see this as a defining moment.”At the time of the filing, the US company had $167m cash on hand to provide liquidity to support certain operations during the restructuring process.
Read more on finextra.comAbout this in other media
Anger, Worry, and Doubt – Celsius Customers ‘Pray’ for the Return of Their Crypto cryptonews.com /2 years ago
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25 cointelegraph.com /2 years ago
Celsius Network Reveals $1.19 Billion Hole In Crypto Lender's Bankruptcy Protection Filing ndtv.com /2 years ago
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