Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Celsius Network Starts Paying $3 Billion After Emerging from Chapter 11 Bankruptcy
ADOPTION NEWS

Celsius Network Starts Paying $3 Billion After Emerging from Chapter 11 Bankruptcy

By Crypto FlexsFebruary 1, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Celsius Network Starts Paying  Billion After Emerging from Chapter 11 Bankruptcy
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

Celsius Network said Wednesday it has begun distributing $3 billion worth of cryptocurrency and fiat to creditors after formally resolving Chapter 11 bankruptcy 18 months after suspending user withdrawals.

As part of ‘Celsius’ Approved Reorganization PlanAccording to Wednesday, some of the $3 billion will be allocated to establishing Ionic Digital, a new Bitcoin mining company owned by creditors. name.

Celsius creditors will own the mining company through common shares, which are expected to be publicly traded once the company secures the necessary approvals. Hut 8, a Miami-based mining company, will oversee Ionic’s mine operations under a four-year management agreement.

Along with this transition, Chelsea plans to phase out its operations by shutting down its mobile and web applications.

Celsius declared bankrupt On July 13, 2022, cryptocurrency lenders $1.2 billion gap From the balance sheet.

Last year, Celsius and its founder and former CEO Alex Mashinsky were sued by several regulators, including the Securities and Exchange Commission, the Federal Trade Commission and the Commodity Futures Trading Commission, accusing them of misleading customers. Mashinsky was also charged with fraud. His trial is scheduled. I’m planning to start in September.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025

As you challenge the mixed technology signal, OnDo Price Hovers challenges the August Bullish predictions.

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M In Presale

August 29, 2025

Use Australia’s Top Cloud Mining Tools To Become A Millionaire!

August 29, 2025

Bitcoin is under pressure with gold aiming to be the highest ever.

August 29, 2025

The US government posts GDP data on Bitcoin block chain.

August 28, 2025

Pudgy Penguins

August 28, 2025

The US government checks the economic data on the chain with 60% Pyth Rocket 60% Pyth Network.

August 28, 2025

GCL Subsidiary, 2Game Digital, Partners With KuCoin Pay To Accept Secure Crypto Payments In Real Time

August 28, 2025

Tether Announces Plan To Bring USD₮ To RGB, Advancing Native Stablecoins On Bitcoin And Lightning

August 28, 2025

Ether Leeum Game Football. Fun market caps increase 10 times within two weeks.

August 28, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

7 Legit Cloud Mining Platforms For Daily Bitcoin Income In 2025

August 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M In Presale

August 29, 2025

Use Australia’s Top Cloud Mining Tools To Become A Millionaire!

August 29, 2025

Bitcoin is under pressure with gold aiming to be the highest ever.

August 29, 2025
Most Popular

Arbitrum DAO members propose $120 million recall in gaming fund for missing deadline

October 12, 2024

Shiba Inu on the verge of breaking through the triangle, the key levels to watch out for are:

June 7, 2024

CBOE debuts using Ethereum futures ETF prior to launch of spot ETF

May 29, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.