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Usha Yadav
Oct 4, 2022
by Usha Yadav

Bankrupt Crypto Firm Celsius Sets Dates for Auction of Assets

Celsius
Celsius Network Ltd., a bankrupt cryptocurrency lender, has scheduled dates to sell its assets. According to an application filed with the US Bankruptcy Court for the Southern District of New York on Monday, Celsius will have a final bid deadline of October 17 at 4 p.m., with an auction taking place if necessary on October 20 at 10 a.m.

Celsius - After Crypto Market Collapse

According to the filing, a sale hearing will take place on November 1 at 11 a.m. via Zoom before Chief US Bankruptcy Judge Martin Glenn, and many people are anticipated to attend. One of the most well-known victims of this year's collapse in the cryptocurrency market has been Celsius. The TerraUSD stablecoin, the hedge fund Three Arrows Capital, and the lender Voyager Digital were among those it had claimed. Additionally, creator Alex Mashinsky recently handed up the CEO responsibilities to Chief Financial Officer Chris Ferraro, a former JPMorgan Chase & Co employee.

Sam Bankman-Fried Eyeing to Purchase Celsius

According to a person acquainted with his deal-making, Sam Bankman-Fried, the crypto billionaire who has recently been rescuing struggling sector participants, is thinking about making an offer for Celsius assets, according to a report last week in Bloomberg News. A second troubled cryptocurrency company, Voyager Digital, will also have its assets acquired by FTX's US affiliate after the latter's bankruptcy auction was won by an offer of $1.4 billion. The rumor that Bankman-Fried wants to acquire Celsius' assets surfaced after Alex Mashinsky resigned as the troubled company's CEO.

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Bankrupt Crypto Firm Celsius Sets Dates for Auction of Assets
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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