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Celsius Network emerges from bankruptcy
4 weeks ago 1 min read

Celsius Network emerges from bankruptcy, marking a victory for the company

Celsius Network, a crypto lending platform, has emerged from bankruptcy, marking a victory for the company and its investors. The completion of the confirmed plan of reorganization, approved by 98% of the company’s account holders and confirmed by the Bankruptcy Court for the Southern District of New York on November 9, 2023, marks the end of an eighteen-month restructuring process. The comprehensive plan entailed reaching an agreement among various stakeholders, resolving complex legal issues, fully cooperating with regulatory investigations, and carrying out transactions under the plan. A key component of the plan is the distribution of more than $3 billion