Cryptocurrency Due to the decline in the market, many crypto-focused companies began to flag bankruptcy. crypto hedge fund Three Arrows CapitalBankruptcy filings starting with Crypto lending platform Celsius Network It stretched to . Celsius Network, which stopped its customers’ withdrawals in the past months, has filed for bankruptcy this time.
Celsius Network Files For Bankruptcy Too
The decline in the crypto market has affected many crypto companies. Many companies began to file for bankruptcy. Finally, one of these companies Celsius Networkit happened.
11 bankruptcy filings in the Southern District of New York Celsius Network, said in a statement that it has filed for bankruptcy voluntarily to provide the opportunity to stabilize its business and complete a comprehensive restructuring that maximizes value for all stakeholders.
To restructure the company in the past weeks Celsius Network had recruited lawyers from Akin Gump Strauss Hauer & Feld LLP of Kirkland & Ellis law firm. Celsius Network also cleared its previous debts from Aave and Maker, and paid off its debt to Compound, freeing itself from a significant burden.
