Digital Assets Report

Newsletter

Like this article?

Sign up to our free newsletter

Crypto lender Celsius files for Chapter II bankruptcy protection

Related Topics

Embattled cryptocurrency lending company Celsius has begun the process of filing for Chapter 11 bankruptcy protection in the US according to a report by CNBC.

The report cites an unnamed source as revealing that the company’s lawyers have been notifying individual US state regulators of the plan.

Celsius was among a group of crypto companies to put a freeze on customer accounts last month amid “extreme market conditions” as the global cryptocurrency values crashed. 

Issued a statement on Wednesday saying it is looking to restructure in a way “that maximizes value for all stakeholders.” 

Like this article? Sign up to our free newsletter

Most Popular

Further Reading

Featured