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There are many moving parts in the FTX bankruptcy, and a restart would have to deal with various aspects of claims, token lockups and compliance issues. The process is not straightforward. Bankrupt crypto lender Voyager attracted a number of hopeful bidders looking to restructure the firm, offer tokens to creditors
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Bankrupt crypto lender Celsius can start sending out ballots to its customers for a vote on a proposed settlement plan that would see a consortium called Fahrenheit buy Celsius’ assets and launch a new company. That company would distribute Celsius assets and equity in the new company to its customers. Judge
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The new filing is set to face legal opposition from borrowers. Source
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The deal is yet to be finalized as an initial deposit is expected within the next ten days. It is a good day for the embattled crypto lender Celsius Network as crypto consortium Fahrenheit LLC has won the bid to acquire the insolvent firm whose assets were previously valued at $2
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The bid, though accepted by Celsius and a committee of its creditors, must still be approved by regulators to finalize the acquisition. Months ago, Bankruptcy Court Judge Martin Glenn warned “regulatory roadblocks” could plague the sale of Celsius much like it thwarted a fellow lender’s acquisition. In April, crypto exchange
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The assets include a loan portfolio, mining rigs and infrastrsucture and cryptocurrency worth as much as $2 billion. Original Source
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