Crypto lender Celsius to declare Chapter 11 bankruptcy: CNBC

ICYMI: Crypto lender Celsius to declare Chapter 11 bankruptcy: CNBC

Crypto lender Celsius is preparing to file for Chapter 11 bankruptcy,The outlet reported that Celsius has begun informing state regulators, who have been investigating the activities of the firm, about the pending filing.

The development comes days after Celsius tapped Kirkland & Ellis LLP to advise on a potential restructuring. Earlier Wednesday, CelsiusLike other firms in the crypto finance space, Celsius has faced significant financial headwinds amid a downturn in the digital asset market. Just over a month ago, Celsius© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only.

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