Crypto lender Celsius has started Chapter 11 bankruptcy preparations, CNBC reported Wednesday, citing a source familiar with the discussions.
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Celsius lawyers were notifying U.S. state regulators Wednesday evening, and Clesius plans to file paperwork “imminently,” the person told CNBC.
Read More: Celsius Pays Off Last DeFi Loan, Reclaims Nearly $200M of Wrapped Bitcoin From Compound
Read more: Celsius is ‘Deeply Insolvent,’ Alleges Vermont Department of Financial Regulation
