Trending Topic: Celsius To Pay Back Creditors Through Launch Of New Token


We've curated a list of the most popular news articles and tweets on the following trending topic - Celsius to Pay Back Creditors Through Launch of New Token.

According to a report by Bloomberg, the now-defunct cryptocurrency lender Celsius is considering the possibility of issuing a new cryptocurrency token as part of its restructuring efforts. This would enable the company to obtain capital and pay back its debtors.

Celsius is considering a plan to issue a new cryptocurrency to repay creditors as part of a bankruptcy-exit strategy.

Bankrupt crypto lender Celsius could soon restructure and issue a cryptocurrency token to compensate users, according to a report from Bloomberg on January 24.

A shadow of its high point of more than $8 in June 2021, Celsius Network (CRYPTO: CEL) has not been an attractive buy for most crypto investors. As of Tuesday evening, the crypto was down 6.99% at $0.5922.

It was suggested that the token could be part of a reorganization that would turn it into a publicly traded, U.S. regulated company.

Celsius told the bankruptcy court it is close to finalizing a plan to return value to its Celsius Earn customers.

Lawyers for Celsius Network said Tuesday that the bankrupt crypto lender is planning to reinvent itself as a new, publicly traded “recovery corporation” in order to exit the bankruptcy process – something they said could happen in “months.”

According to statements made by Celsius in court on Tuesday, the crypto-lending firm is contemplating the issuance of a new digital asset token in order to compensate creditors as part of its proposal to reorganize & emerge from bankruptcy; as an upcoming regulated cryptocurrency platform. During a video-court hearing, the attorney for the company, Ross The post Breaking: Celsius To Repay Creditors By Issuing New Token appeared first on CoinGape.

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