Cointime

Download App
iOS & Android

Celsius' Creditors Approve Plan to Return 67%-85% of Holdings in Bankruptcy Claim

Creditors of bankrupt crypto lender Celsius have approved a plan that would return 67%-85% of holdings to them, pending final approval from the court. The U.S. Trustee has objected to the plan, and a confirmation hearing for final approval is scheduled for Oct. 2. The reorganization plan includes the sale of assets to crypto consortium Fahrenheit Holdings, which won a bid to acquire Celsius Network in May 2023. The vote marks a step towards the end of Celsius' bankruptcy and the return of funds to customers, despite the arrest of former CEO Alex Mashinsky on fraud charges.

Comments

All Comments

Recommended for you