Celsius: Restructuring or Bankruptcy?
Ese Precious
Ese Precious
Fintech writer at AskWallet.io
2 min read 27.07.2022 127
Celsius: Restructuring or Bankruptcy?

Celsius: Restructuring or Bankruptcy?

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On June 12, 2022, cryptocurrency lender Celsius Network froze customer withdrawals, claiming it was due to "extreme market conditions." One month later, the company filed for Chapter 11 bankruptcy in the Southern District Bankruptcy Court in New York, United States of America.

Is Celsius trustworthy? Will the company recover from this unfortunate circumstance? Or Celsius is simply substituting concepts by calling bankruptcy a restructuring?

In this article, we will give you the main details of the bankruptcy of Celsius and answer some pertinent questions. We will tell you what led to its fall, why it chose Chapter 11 as the way forward, and what the future of this company will most likely be. 

Ese Precious
Ese Precious
Ese Precious