The bankrupt crypto company Celsius Network (CEL) has obtained the necessary permissions to convert its altcoins into Bitcoin (BTC) and Ethereum (ETH).
Celsius owns a significant portion of its altcoins. to Bitcoin and Ethereum decided to convert it to the bankruptcy court in New York accordingly. on June 15 had requested approval to transform assets by submitting a restructuring report.
New York Southern District Bankruptcy Judge Martin Glenn dated 30 June in the court case, on the subject US Securities and Exchange Commission (SEC) after a meeting with Celsius’s request was approved. stated.
According to the judge’s decision, Celsius, 1 July 2023 excluding tokens associated with custody accounts as of (today) cryptocurrencies And will be able to convert crypto assets to Bitcoin or Ethereum.
Celsius announced at the beginning of June that this decision was made in the turbulent cryptocurrency market. minimize damage And maximize the value of their remaining assets He said it was taken for the purpose.
In total that Celsius can convert worth millions of dollars 15 different altcoins exists. The altcoins in question are as follows: 103,065 Cardano (ADA), 660.348 Celsius (CEL), 91,630 Polygon (MATIC), 3,337 Chainlink (LINK), 197 Litecoin (LTC), 1,832 Polkadot (DOT), 439 FTT (FTT), 106 Aave (AAVE), 53 Bitcoin Cash (BCH), 864 Uniswap (UNI), 145 Solana (SOL), 19 Binance Coin (BNB), 47,851 Stellar (XLM), 3,119 Eos (EOS) and 5,567 Serum (SRM).