Bankruptcy Court Sets Deadline for Celsius Users to File Claims
Celsius' next hearing is scheduled for December 5th, where it intends to advance discussions around Custody and Withhold accounts, etc.Â
Celsius' next hearing is scheduled for December 5th, where it intends to advance discussions around Custody and Withhold accounts, etc.Â
Operational irregularities on Celsius' part are believed to be the reason. Â
This is TrueFi’s first and only declared credit default to date.
With a $1.2-billion gap in its balance sheet, the lending platform filed for Chapter 11 bankruptcy in July.
Mashinsky's $10-million withdrawal comes into sharp focus as scrutiny of the financial conduct of Celsius' former top executive intensifies. Â
The US authorities sought more information to assess what would be the impact of the move.
CEL pumped briefly after the news to a multi-week high, but retraced just as sharply along with the rest of
Washington State Department of Financial Institutions is the new interested party in the latest chapter of Celsius' ongoing liquidity crisis.
The resources freed up by this motion would be used to ensure the platform stays afloat.
A creditors’ committee represented by a law firm is already investigating the company and its officials, including CEO Alex Mashinsky.