Bankrupt Cryptocurrency Company’s Restructuring Plans Hit a Hurdle

There is an obstacle to the restructuring efforts of the bankrupt cryptocurrency lending company Celsius.

According to Coindesk, the US Securities and Exchange Commission (SEC) has issued a statement regarding Celsius’ restructuring plans. get more information wants.

The regulator has been dealing with both the committee and Fahrenheit regarding financial assets under the control of the committee overseeing Celsius’ insolvency process. constant dialogue in case of.

Arrington Capital, US Bitcoin Corp. The Fahrenheit group, consisting of and Proof Group, received court approval in May to establish a new cryptocurrency company using financial assets belonging to Celsius.

A person speaking on the subject said, “My understanding is that the SEC requested more information in order to reach a decision. “I think the SEC is telling the committee what it wants to see about various elements of this business, and the committee now has to decide what to do about that information.” said.

Fahrenheit plans to distribute approximately $2 billion in Bitcoin and Ethereum to Celsius’ creditors and use the remaining assets as capital for the new company. New company to be established cryptocurrency mining and staking will give emphasis.

If an agreement cannot be reached with the SEC, Celsius’ assets are expected to be liquidated.

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