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Business

Celsius Starting Bankruptcy Proceedings: Report

Crypto lender's lawyers are notifying state regulators, source tells CNBC.

By Greg Ahlstrand
AccessTimeIconJul 13, 2022 at 11:34 p.m. UTC
Updated Jul 14, 2022 at 3:36 p.m. UTC
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Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

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Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
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Crypto lender Celsius Network has started Chapter 11 bankruptcy preparations, CNBC reported Wednesday, citing a person familiar with the discussions.

  • Celsius lawyers were notifying U.S. state regulators Wednesday evening, and Celsius plans to file paperwork “imminently,” the person told CNBC.

Read More: Celsius Pays Off Last DeFi Loan, Reclaims Nearly $200M of Wrapped Bitcoin From Compound

Read more: Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation


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Greg Ahlstrand

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

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Greg Ahlstrand

Greg Ahlstrand is CoinDesk's Asia News Editor. Greg has no significant crypto holdings.

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