Celsius may issue ‘Celsius token’ to repay large account holders, reports claim
its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information.
According to the report, Celsius attorney Ross M. Kwasteniet told the court that the firm is negotiating with its creditors on how to relaunch the platform and adequately pay them back. The new, relaunched version would be “a publicly-traded company that is properly licensed,” which could allegedly provide more money for creditors than simply liquidating the company. If approved by creditors and the court, the reorganized company would “issue a new token to creditors as part of a payout plan.
Twitter user CelsiusFacts, who often tweets updates about the case, also claimed to have found details of the reorganization plan. According to a statement on January 24, Celsius Network intends to become publicly traded and use “third party services” to ensure that it complies with U.S. financial regulations. Users may be able to withdraw up to $7,500 worth of claims or 95% of the total, whichever amount is smaller.
- Larger holders will get a debt token that seems to represent all the value, so you can sell if you dont believe in the company or recovery.
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.
Celsius to store 20,000 mining machines, remains optimistic about new hosting sitesCelsius said that it will temporarily store about 20,000 mining rigs retrieved from Core Scientific's hosting facility, while it looks for other opportunities.
Read more »
FWC report reveals new information in Dec. 2022 bear attack involving Jacksonville zookeeperA 25-page report filed by the Florida Fish and Wildlife Conservation Commission reveals new information in the Dec. 21 incident at the Jacksonville Zoo and Gardens in which a zookeeper was mauled by an American black bear.
Read more »
Santa Clara led California in new hotel supply in 2022 - San Francisco Business TimesSanta Clara County leads the Bay Area in recent hotel debuts and projects under construction.
Read more »
Stand-up comic Jo Koy coming back to S.A., hotter than everThe comedian leveled up in 2022 with his feature film 'Easter Sunday' and a new Netflix...
Read more »
India’s JSW Steel sees exports at more than 10% of 2022/23 salesIndia’s JSW Steel expects its exports to pick up in the current quarter through March, boosted by the withdrawal of an export tax and robust demand from the Middle East and Asia.
Read more »
69% of Retail Investors Unfazed by 2022 Crypto Winter: SurveyThe study found that younger investors are less fearful of the crypto market after the crash last year.
Read more »