As the collapse in the cryptocurrency world took longer than expected, some companies started to file the bankruptcy flag. Cryptocurrency loan company Celsiushad put withdrawals on hold about a month ago. Now it turns out that the company has filed for bankruptcy.
Celsius declares bankruptcy without allowing withdrawals
Cryptocurrency industry Cryptocurrency loan company Celsius, which says it can’t be traded until it recovers, has officially filed for bankruptcy. He said they will embark on a comprehensive restructuring process that will make the most of it for investors.
In a blog post shared on the company’s website, users withdrawal transactions It was informed that it will still be suspended. No date has been shared yet for other suspended transactions, especially withdrawals. However, it was emphasized that they will work for the success of the cryptocurrency industry.
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Celsius officials will carry out the activities of the platform a new structure announced that they are working on it. Reminding that withdrawals, conversions and transfers are paused for all customers, the loan company said they had made a “difficult but necessary decision”.
In the bankruptcy filing submitted to the US regulatory agency SEC, $1 to $10 billion to over 100,000 customers between which money will be paid. It was underlined that customers will not be allowed to withdraw money at this time. It was also stated that the company’s existing loans will continue to serve, but will not be open to new loans.
What is Celsius You may be wondering. roughly the Celsius network bank for cryptocurrencies We can say that you have seen the service. It offered users the ability to withdraw, deposit, transfer or stake (cryptocurrency freeze) using cryptocurrencies.
Celsius allegedly paid some of its partners, but did not pay its own employees. While it is unclear for now when the company will allow withdrawals, it has shaken confidence in the cryptocurrency market.
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