Transcribed

Celsius Network Wins Court Approval For Shift To Bitcoin Mining 

Jan 5, 2024 · 1m 31s
Celsius Network Wins Court Approval For Shift To Bitcoin Mining 
Description

A U.S. bankruptcy judge has approved cryptocurrency lender Celsius Network's pivot to bitcoin mining, ruling that the company could deviate from a previously approved bankruptcy plan because creditors and customers...

show more
A U.S. bankruptcy judge has approved cryptocurrency lender Celsius Network's pivot to bitcoin mining, ruling that the company could deviate from a previously approved bankruptcy plan because creditors and customers were no worse off under the new restructuring.
U.S. Bankruptcy Judge Martin Glenn in Manhattan says the bankruptcy plan approved in November contained enough flexibility to allow Celsius to switch to a backup plan after it hit a roadblock with the U.S. Securities and Exchange Commission.
Celsius had scaled back broader ambitions to earn fees from validating crypto transactions and start new lines of business after the SEC rejected that plan.
Celsius expects to emerge from bankruptcy in early 2024.
show less
Information
Author Africa Business Radio
Organization Africa Business Radio
Website -
Tags

Looks like you don't have any active episode

Browse Spreaker Catalogue to discover great new content

Current

Podcast Cover

Looks like you don't have any episodes in your queue

Browse Spreaker Catalogue to discover great new content

Next Up

Episode Cover Episode Cover

It's so quiet here...

Time to discover new episodes!

Discover
Your Library
Search