Celsius has more than 100,000 creditors
Celsius, which has more than 100,000 creditors, said it took the step to stabilize its business and work out a restructuring for all stakeholders. The filing was made in the Southern District of New York and listed Alameda Research, the trading firm co-founded by crypto billionaire Sam Bankman-Fried, among major creditors.
Cryptocurrency markets took Celsius’s bankruptcy filing in stride, with bitcoin advancing 1.7 per cent to just below US$20,000 on Thursday morning in London, even as European equities declined. In a statement Wednesday, Celsius said it needed to halt withdrawals as without it, an acceleration of the pullouts “would have allowed certain customers — those who were first to act — to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery.”Article content
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