Celsius will sell its assets through the auction on October 20
FTX cryptocurrency exchange CEO Sam Bankman-Fried may take part in the auction
04.10.2022 - 10:45
310
2 min
0
What’s new? The bankrupt crypto lending platform Celsius Network will hold the auction to sell its assets. According to a filing sent to the US court, the deadline to submit a bid is October 17. The auction itself will take place on October 20. A sale hearing is set for November 1 and will be conducted by Chief US Bankruptcy Judge Martin Glenn.
More details about the situation. Bloomberg previously reported that FTX cryptocurrency exchange CEO Sam Bankman-Fried is going to take part in bidding for Celsius’ assets. According to insiders, FTX is also seeking $1 billion in funding.
In June, Celsius froze customer funds, citing unfavorable market conditions. On July 13, it filed for bankruptcy. In September, Celsius CEO Alex Mashinsky unveiled a new plan to restructure Celsius into a custodial platform and later tendered his resignation.
It also became known that Mashinsky withdrew $10 million from the company in the weeks before the freeze of customer funds. The former head of the company explained that he and his family kept $44 million in cryptocurrency in Celsius.
To find out what caused the bankruptcy of Celsius, one of the largest crypto lenders, see GetBlock Magazine’s article.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024