Celsius starting on or after July 1, 2023 bitcoin And Ethereum It is allowed to convert non-existent tokens to BTC or ETH.
In a statement, Bankruptcy Judge for the Southern District of New York Martin Glenn announced that Celsius had approved the sale of tokens that were determined to be securities after discussions with the SEC.
In the hands of Celsius worth $ 70.5 million CEL, worth $51.8 million MATIC, ADA valued at $26.2 million, valued at $17.3 million LINK, worth $14.4 million LTC and more.
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According to Glenn’s decision, Celsius may “sell or convert non-BTC and non-ETH cryptocurrencies, crypto tokens or other crypto assets other than such tokens associated with Withhold or Custody accounts to BTC or ETH starting on or after July 1, 2023”.
Celsius, which went bankrupt in July 2022 and whose sale to crypto consortium Fahrenheit was approved in May, says it is preparing an updated bankruptcy plan that will not include distribution of cryptocurrencies to creditors other than BTC or ETH, with limited exceptions.
*Not investment advice.
Source: Bitcoinsistemi.com