Major U.S. crypto lender Celsius Network has filed for bankruptcy
It’s a bad day for crypto investors as U.S. crypto lender, Celsius Network, files for bankruptcy.
The group becomes the latest victim in the sector to fall under a dramatic plunge in prices.
Its listed assets and liabilities on a consolidated basis between USD$1-10 billion.
It follows another lender, Voyager Digital filing for bankruptcy last week after it suspended withdrawals and deposits.
The pandemic brought about a string of crypto lending.. but have tumbled in recent months following the collapse of Terra USD in May, and a crash of some of the other majors.
It’s understood Celsius has $167 million in cash, which will provide liquid to support operations during the restructure.
