Bankrupt Crypto Lender Celsius Gets Cash-Injection Offers, Approval to Sell Mined Bitcoin

Aug 17,2022
KingData News: Bankrupt cryptocurrency lender Celsius Network, which disclosed Monday that it was running low on money, said it has gotten several proposals to inject cash into the company and won approval from a U.S. judge to sell bitcoin (BTC) that it mines. A document filed prior to the hearing showed that Celsius mined $8.7 million worth of bitcoin in July; the company’s operational and capital costs exceed that.
On June 13, digital asset lending platform Celsius Network announced that it would suspend all withdrawals, swaps and transfers between accounts due to extreme market conditions. On the same day, Etherscan data showed that Celsius transferred a total of approximately 111,815 ETH to FTX over the last three days. This indicator provides a real-time tracking of Celsius' funding crisis.
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