Digital currencies have recently come under a lot of pressure.
(Photo: Moment/Getty Images)
Denver, Frankfort The American crypto platform Celsius is insolvent. The company announced this on Thursday night. “It was a difficult but necessary decision,” the Hoboken, New Jersey-based company said in a statement.
Exactly a month ago, the crypto lender, which enables borrowing and lending of digital currencies, froze trading and deposits, which Celsisus cited as “extreme market conditions” at the time.
Celsius now wants to restructure under creditor protection in order to “maximize the value of the company for all stakeholders”. According to its own statements, Celsius has cash in the amount of 167 million dollars (about 166 million euros) for this.
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