The CelsiusNetwork bankruptcy auction has a winner! Who will be taking over the insolvent crypto lender, and how much will its creditors get? Check here -
Fahrenheit LLC – a consortium of investors that includes the largest crypto exchange in the United States – has emerged as the winner in the court-approved auction process to acquire insolvent lender Celsius Network.
The distribution of Celsius’s liquid crypto to account holders, settlements with the Custody and Withhold groups, as well as managing Celsius’ illiquid assets by the new company have been outlined as the crux of the agreement.The deal also requires the new company to receive $500 million in liquid cryptocurrency, which may be reduced to $450 million in the event of secondary market purchases.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Richard Branson's Virgin Orbit to Shut Down Following Bankruptcy, Assets Sold in AuctionVirgin Orbit, the satellite launch provider founded by Sir Richard Branson, has confirmed it is shutting down after selling its facility leases and equipment to three aerospace companies following bankruptcy.
Read more »
Jelly Roll Talks Addiction and Mental Health Struggles in New DocJelly Roll is detailing his struggles with addiction and mental health in his new documentary, 'Jelly Roll: Save Me.'
Read more »
Tina Turner dies at 83 after ‘long illness’: What she said about health strugglesThe queen of rock 'n' roll died on May 24 at her home in Switzerland, according to her publicist.
Read more »
Gov. Gavin Newsom faces tough question: Who would replace Sen. Dianne Feinstein?Sen. Dianne Feinstein's ongoing medical struggles have raised a sensitive political question with no easy answer: Who would Gov. Gavin Newsom pick to replace her if the seat becomes vacant?
Read more »