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Celsius Starting Bankruptcy Proceedings: Report
Crypto lender's lawyers are notifying state regulators, source tells CNBC.
Updated May 11, 2023, 6:53 p.m. Published Jul 13, 2022, 11:34 p.m. 1 min read
Crypto lender Celsius Network has started Chapter 11 bankruptcy preparations, CNBC reported Wednesday, citing a person familiar with the discussions.
- Celsius lawyers were notifying U.S. state regulators Wednesday evening, and Celsius plans to file paperwork “imminently,” the person told CNBC.
Read More: Celsius Pays Off Last DeFi Loan, Reclaims Nearly $200M of Wrapped Bitcoin From Compound
Read more: Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation
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