Celsius filed for bankruptcy in July. The company had between $1 billion and $10 billion in assets and debts and more than 100,000 creditors.
On Friday, the bankrupt crypto lender Celsius Network said that it won’t try to collect on outstanding loans during its Chapter 11 proceedings, so borrowers don’t have to pay back these loans.
I’m from New Jersey. In a filing with the U.S. Bankruptcy Court for the Southern District of New York, Celsius said that there will be no interest or fees after the loan is paid off.
The company had between $1 billion and $10 billion
Celsius filed for bankruptcy in July. The company had between $1 billion and $10 billion in assets and debts and more than 100,000 creditors.
The lender also had a $1.19 billion deficit on its balance sheet, and as of July 13, it had about 23,000 loans to retail borrowers totaling $411 million that were backed by digital assets worth $765.5 million on the market.
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