4 months 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