‼‼ After rapid efforts to repay loan, Celsius officially declares bankruptcy following Chapter 11 – Bankruptcy Protection
Rumors of “Paying down loans” then “Filling for bankruptcy” has been spreaded since a month ago. Celsius is the third Crypto company joining Three Arrow Capital and Voyager Digital in announcing bankruptcy.
Started from the begining of July, Celsius has repaid over $800M stable coin lended from other Defi platforms – Aave, MakerDao and Compound.
Investors has been worrying about their deposit money on Celsius’s platform. According to Chapter 11, Celsius will continue to operate, but there is no word about when or if withdrawals will be re-enabled.
Source: CNBC
