fbpx
1.2 C
London
Thursday, February 9, 2023

Celsius Looking For A Turnaround

Celsius Network, a cryptocurrency lending startup, has announced that it has received around 30 potential bidders as it moves forward with its plan to auction off a number of its assets. The company revealed the development in a press release.

Celsius has received around 30 potential bidders for its assets, according to a report by Cointelegraph. The crypto exchange filed for bankruptcy but still made a comeback with a plan to sell off its assets and seek new investors.

Celsius Gets Ample Bidders

- Advertisement -

The company withdrew its motion for approval of the sale of assets on Monday. While the court approved the bid, it did not approve Celsius’ request to extend the deadline for bids.

A Bitcoin (BTC) lending startup has announced that it has received around 30 potential bidders as it moves forward with its plan to auction off a number of its assets.

Celsius Network revealed the development in a press release shared with Cointelegraph on April 5. In the statement, CEO Alex Mashinsky noted that Celsius had been “pleased” with the interest from potential buyers and called for interested parties to submit their bids.

- Advertisement -

Celsius Network, a cryptocurrency lending platform, has revealed it is auctioning off its assets and seeking new investors.

The company filed for Chapter 11 bankruptcy protection as it seeks to restructure operations and pay back creditors. Celsius previously revealed that it was auctioning off its assets in order to raise funds for the repayment of $20 mln worth of loans owed by customers.

In a press release shared, the company revealed that 30 potential bidders have already been shortlisted for the withdrawal motion approved by US Bankruptcy Court Judge Barry Ostrager earlier this week. The list includes several unnamed business entities as well as one individual interested in purchasing Celsius’s intellectual property (IP).

- Advertisement -

Follow Us

16,985FansLike
4,865FollowersFollow
1,643FollowersFollow

Latest news