Thursday, November 30, 2023
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Celsius entity to focus only on mining under proposed reorganization plan

Cryptocurrency lending firm Celsius said its reorganized company will focus only on Bitcoin mining following feedback from the United States Securities and Exchange Commission (SEC).In a Nov. 20 announcement, Celsius said the core business of the ‘NewCo’ company proposed under its restructuring plan will be Bitcoin (BTC) mining rather than

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Celsius to Transition to Mining-Only NewCo After SEC Feedback in Updated Bankruptcy Plan

"In the coming weeks, the Debtors intend to file a motion with the Bankruptcy Court to approve modifications to the Plan to reflect the new Mining NewCo transaction," the filing said. "The Debtors do not believe that these modifications will require resolicitation of the Plan. The Debtors still anticipate that

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Celsius restructuring encounters obstacle due to SEC involvement

The U.S. Securities and Exchange Commission’s request for more information has paused Fahrenheit’s plan to revive bankrupt crypto lender Celsius, highlighting the ongoing regulatory challenges in the crypto sector. Fahrenheit, an investment group, had a plan to create a new crypto business from what’s left of bankrupt crypto lender Celsius, however,

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CEL token enjoys uptick despite dramatic Celsius bankruptcy

Crypto lender Celsius Network continues to face legal upheavals as it embarks on a new journey post-bankruptcy. Meanwhile, its native CEL token has seen a 40% increase in the past seven days.  Navigating legal challenges Celsius Network’s transition unfolds against a backdrop of legal challenges and financial turbulence. The recent court endorsement

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Celsius to exit bankruptcy and restart as creditor-run Bitcoin miner

Celsius Network is revamping into a Bitcoin mining company, promising customer repayments and an exit from bankruptcy.  Cryptocurrency lending platform Celsius Network has secured court approval to transition into a Bitcoin mining company owned by its creditors. This development is part of a comprehensive strategy to compensate account holders whose funds

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Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors

The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.Judge Martin Glenn of the Southern District of New York Bankruptcy Court issued a confirmation on Nov. 9

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