Bankrupt Crypto Lender Celsius Wants to Sell its $23M Stablecoin Holdings

[Markuri33]

The sale of Celsius' stablecoin holdings will pay for the crypto lender’s daily operations, but won’t be used to pay back creditors. In the latest chapter of Celsius’ ongoing liquidity crisis, which first became public when the lender froze customer withdrawals in June, the bankrupt crypto lender has asked the U.S. Bankruptcy Court for the Southern District of New York for permission to sell its stablecoin holdings.

Court filings from yesterday indicate that Celsius has asked for authorization to sell its stablecoins in order to pay for operations. The company previously released a coin report on Wednesday revealing that it has over $2 billion in liabilities from various cryptocurrencies; its stablecoin holdings amount to approximately $23 million, held in 11 different stablecoins.more info