Celsius plans to poll customers on plans for new user-owned company: Bloomberg
The crypto lender will start sending ballots to account holders after getting approval on Monday from U.S. Bankruptcy Judge Martin Glenn, who said he would allow Celsius to send ballots to account holders along with voting materials that had plain-language explanations of the company’s plan to repay its customers following its bankruptcy a year ago, Bloomberg News reported.
Glenn’s approval is also contingent on the company’s advisers providing more information about the volatility of the crypto industry as well as challenges that its crypto mining operation could face. A Celsius lawyer also noted that the company is set to start repaying creditors by the end of this year, according to Bloomberg News.
Celsius filed for bankruptcy in July 2022 and owes billions of dollars to investors. Crypto consortium Fahrenheit won a bid toIndividual Celsius account holders said they were not pleased with the crypto lender’s repayment plan during the hearing because they would have to take stock in a new venture that could pose risks, Bloomberg reported.Former Celsius CEO Alex Mashinsky has caught the ire of regulators over the past year.
“As the former CEO of Celsius, Alex Mashinsky promised to lead investors to financial freedom but led them down a path of financial ruin,” James said in an earlier
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SHIB Trillionaire Moves Whopping 750 Billion Shiba Inu Tokens, Here's What's HappeningJaw-dropping 750 billion Shiba Inu tokens eye transfer out of Voyager's wallet, and final destination may not make SHIB community happy shibainu shib shibarmy shibtoken shibarium shibaeternity shibburn $shib
Read more »
Jodie Sweetin on Her Film Being Sold to Candace Cameron Bure's NetworkIn a statement to ET, Jodie Sweetin says she's 'disappointed' that her upcoming romcom was sold to Candace Cameron Bure's Great American Family Network.
Read more »
Ava DuVernay, Ron Howard explain what drove them to create massive hiring networkTwo of Hollywood's most renowned filmmakers, Ron Howard and Ava DuVernay, are teaming up to launch an initiative aimed at revolutionizing hiring in the entertainment industry.
Read more »
Majority oppose CMT's decision to pull 'Try That In A Small Town' from networkA majority of people are against Country Music Television's decision to remove 'Try That In A Small Town' from the channel's rotation, which was removed from CMT last month.
Read more »
German network regulator names 2nd managing director of Rosneft DeutschlandGermany's network regulator on Monday said it had appointed Udo Giegerich as a second managing director of the German subsidiary of Russia's Rosneft , Rosneft Deutschland, which Berlin put under a trusteeship last year.
Read more »