Friday, 24 March, 2023

Crypto lending platform Celsius Network declares bankruptcy

<p>Another corporate victim of the cryptocurrency crisis Celsius Network has applied for Chapter 11 bankruptcy protection. The future of the cryptocurrency lending business has been in doubt since it abruptly stopped all transfers and withdrawals exactly one month ago. It now plans to operate with the $167M in cash it still has while bankruptcy courts rebuild the business. The company&#39;s assets range from $B to $10B, but it also owes a similar sum.</p>