Celsius Files for Permission to Sell Stablecoin Holdings

Bankrupt cryptocurrency lending firm Celsius Network has filed an application to the court for authorization to sell its stablecoin holdings in a bid to generate liquidity to continue its daily operations. Celsius Network, which is currently in Chapter 11 bankruptcy proceeding before the U.S. Bankruptcy Court for the Southern District of New York has asked the court for permission to sell its stablecoin holdings.

Timeline of Celsius

According to a recently leaked recording stemming from the bankrupt crypto lender Celsius, the business is attempting to revive the company after falling into a financial burden. Following the leak, a Southern District of New York bankruptcy judge appointed a third-party examiner to review the company's finances.

Celsius (CEL) has been on the headlines recently in line with hearing updates following its filing of bankruptcy and sale of stablecoins. CEL price spikes 30% as seen in the past 24 hours Price slumps 13.21% despite improvement in social media metrics ETH Merge to impact CEL performance Celsius Network has recently filed for bankruptcy in July and is now in Chapter 11 proceedings.

Embattled crypto lender Celsius is seeking permission from the U.S. Bankruptcy Court to sell off its stablecoins. As the future of the company remains unclear, it is asking the bankruptcy court for permission to sell the stablecoins in its possession as a means of generating liquidity, according to recent court filings.

Bankrupt crypto lending company Celsius has requested the court for authorization to sell its stablecoin holdings. The sale of the stablecoins will generate liquidity to finance the crypto lender's daily operations but won't be used to repay creditors.

Crypto lending firm Celsius [CEL] seems to be committed to restoring its lost reputations and getting back to full operation. In its latest filing with the New York Southern District Bankruptcy Court, the company pleaded that the court allowed it to sell its stablecoin holdings.

Bankrupt crypto lender Celsius sought permission in a late Thursday court filing to sell its stablecoin holdings. The post Celsius asks bankruptcy court for permission to sell stablecoin holdings appeared first on The Block.

Celsius Network is looking to sell $23 million worth of its stablecoin assets for United States dollars, according to a September 15 filing. The post Celsius seeks court approval to sell $23M worth of stablecoin assets appeared first on CryptoSlate.

Bankrupt cryptocurrency lender Celsius is getting conscious of its users and future operations. Celsius filed for bankruptcy in July after a long battle resolving issues, leaving the once top crypto lending firm with nearly $3 billion in liabilities.

Celsius [CEL] has been in the news and it has a new update with regards to its hearings. Judges on the company's bankruptcy lawsuit have allowed for an independent examiner to investigate the case.

The CEO of Celsius Network is reportedly discussing a new project that may help rebuild the bankrupt crypto lending platform. According to a new report from The New York Times, Alex Mashinsky presented the “audacious plan” called Kelvin to revive Celsius months after the troubled company filed for bankruptcy in July.