Godlike Productions - Discussion Forum
Users Online Now: 2,262 (Who's On?)Visitors Today: 378,573
Pageviews Today: 879,312Threads Today: 399Posts Today: 7,671
12:52 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Crypto lender Celsius is risking insolvency after it pauses withdrawals

 
Anonymous Coward
User ID: 79460334
Czech Republic
07/11/2022 03:23 AM
Report Abusive Post
Report Copyright Violation
Crypto lender Celsius is risking insolvency after it pauses withdrawals
Crypto lender Celsius is 'risking insolvency' after it pauses withdrawals

[link to ca.finance.yahoo.com (secure)]
Anonymous Coward
User ID: 80925910
07/13/2022 09:27 PM
Report Abusive Post
Report Copyright Violation
Re: Crypto lender Celsius is risking insolvency after it pauses withdrawals
i keep geeting banned when trying to start a new thread



Celsius just filed Ch 11:

Moments ago, we announced that Celsius voluntarily filed petitions for Chapter 11 reorganization. You will be able to find the official announcement here.

Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, Swap, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers—those who were first to act—to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery.

Following the stated pause on June 12, 2022, we want you to know that we spent a great deal of time exploring our options.

These Chapter 11 cases provide the Company with the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry.

We apologize that communication with our teams and community has been very limited over the past few weeks, and we look forward to being able to offer greater transparency with everyone through our reorganization, which encourages dialogue with all stakeholders.

For additional information regarding Chapter 11 protection, please watch this video.

Additional information about the Chapter 11 filing, including Court documents, can be found at [link to cases.stretto.com (secure)] Stakeholders with questions may call Celsius’ Claims Agent, Stretto, at +1 (855) 423-1530 (U.S.) or +1 (949) 669-5873 (international) or email [email protected]

Acting in the best interest of our stakeholders, including our entire customer community, is our top priority. We are also entering this process with the intention of emerging as a stronger company.

We thank you for your patience. It is our pleasure to serve you.

Celsius
Anonymous Coward
User ID: 80925910
07/13/2022 09:28 PM
Report Abusive Post
Report Copyright Violation
Re: Crypto lender Celsius is risking insolvency after it pauses withdrawals
they just sent this to my email
Anonymous Coward
User ID: 83643056
Chile
07/13/2022 09:29 PM
Report Abusive Post
Report Copyright Violation
Re: Crypto lender Celsius is risking insolvency after it pauses withdrawals
epiclol
Anonymous Coward
User ID: 78249192
Denmark
07/13/2022 09:30 PM
Report Abusive Post
Report Copyright Violation
Re: Crypto lender Celsius is risking insolvency after it pauses withdrawals
This is good for BitCoin. 5a





GLP