Celsius debtors can swap altcoins for bitcoin and ether starting July 1

The Block
The Block

30 Jun 2023 3:58 PM

A New York court said Celsius debtors can begin cashing out altcoins for bitcoin and ether starting on July 1....

  • A New York court has granted permission for Celsius debtors to convert altcoins into bitcoin and ether starting from July 1.
  • Bankruptcy Judge Martin Glenn approved the move in a filing on June 30.
  • Celsius filed for Chapter 11 bankruptcy protection on July 13, 2022, with liabilities of up to $10 billion.
  • The company had paused withdrawals prior to the bankruptcy and has been working with regulators to return funds to debtors.

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When can Celsius debtors start converting altcoins into bitcoin and ether?Who approved the altcoin conversion in the New York court?When did Celsius file for Chapter 11 bankruptcy protection?What is the amount of liabilities Celsius disclosed in its bankruptcy filing?What has Celsius been doing in collaboration with regulators regarding fund returns to debtors?

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