Cointime

Cointime

Download App
iOS & Android
Home / Projects

Crypto Lender Celsius to Hold Vote on Asset Sale Plan to Fahrenheit Consortium, Creditors Could Recover 67%-85% of Holdings

  • Wechat scan to share

Crypto lender Celsius, which filed for bankruptcy last year, has received approval from a judge to hold a vote on its plan to sell assets to the Fahrenheit consortium. The plan would see creditors recover between 67% and 85% of their holdings, with returns largely being made in bitcoin and ether.

The vote will take place between 24 August and 22 September, with the sale involving a consortium including Arrington Capital and miner U.S. Bitcoin Corp. The company's former CEO, Alex Mashinsky, was arrested on fraud charges in July, but Celsius itself was not prosecuted and has said a $4.7bn fine imposed by the Federal Trade Commission will not affect its plans to return funds to customers.

Bitcoin Bitcoin $87,724.34
+0.41%
bankruptcy Assets
Comments

All Comments

Recommended for you

  • FIFA President announces 'FIFA Coin' initiative

    Gianni Infantino, President of FIFA, announced the "FIFA Coin" plan at a White House summit, hoping to launch their own cryptocurrency. The aim is to leverage the $170 billion football industry and the 5 billion global football fans. They will invite cryptocurrency experts to collaborate and help realize this project.

  • Argo Blockchain Signs $40 Million Financing Agreement to Support M&A Transactions

    Argo Blockchain, a bitcoin mining company listed on Nasdaq, has announced that it has signed a $40 million senior secured convertible loan agreement, with an initial financing amount of $15 million and the remaining $25 million to be completed in the next 18 months. Three multinational institutions have invested (specific institution names have not been disclosed) and will join the Argo board. The new funds will be used to expand its mining facility in Baie Comeau, strengthen the balance sheet, and conduct a series of potential merger and acquisition transactions.

  • Binance will adjust the collateral ratio of BCH, XTZ and other assets

    According to the official announcement of Binance, Binance will update the collateral ratios of various assets under the investment portfolio margin mode on March 7, 2025 at 06:00 (UTC). The update process is expected to last about an hour. The specific adjustments are as follows: The collateral ratios of BCH, XTZ, and MANA will be reduced from 85% to 75%; The collateral ratio of ONE will be reduced from 80% to 70%; The collateral ratios of BAT and DENT will be reduced from 80% to 65%. Please note that the collateral ratio adjustments will affect the unified maintenance margin rate (uniMMR), and users need to pay close attention to avoid potential liquidation risks.

  • DeepSeek open-sources and releases 3FS, a high-speed parallel file system that optimizes AI data access

    On the fifth day of Open Source Week, its Fire-Flyer file system (3FS) was officially open sourced. As a high-performance parallel file system, 3FS can fully utilize modern SSDs and RDMA networks to achieve high-speed data access, improving the efficiency of AI model training and inference.

  • Hong Kong to allocate HK$1 billion to set up artificial intelligence research institute

    The Hong Kong SAR Government will allocate HK$1 billion to establish an artificial intelligence research institute.

  • Binance Futures will launch U-based and Coin-based quarterly 0627 delivery contracts

    Binance Futures will launch the following quarterly 0627 delivery contracts for U-based and coin-based contracts within a few hours after the expiration of the quarterly 1227 delivery contracts on December 27 at 16:00 U.

  • Binance to Launch MORPHO and CHILLGUY USDT Perpetual Contracts

    Binance futures platform will launch perpetual contracts with a maximum leverage of up to 75 times at the following times:

  • Pie Shield: Magnate Finance Devs Modify Protocol Oracle Provider and Remove All Assets

    According to PeckShield monitoring, the developer of Magnate Finance has modified the provider of the oracle and removed all assets from the protocol.Currently, Magnate Finance's TVL is only $107,000.Previously, it was reported that the Magnate Finance website was inaccessible and the Telegram group had been deleted.

  • Beosin: RocketSwap on the Base Chain Was Attacked Due to the Leak of the Private Key of the Deployer

    According to Beosin's public opinion monitoring, RocketSwap's assets in the farm contract deployed on the Base chain were transferred to the attacker's account due to the leakage of the deployer's private key. The project party has now closed the farm contract.

  • Bankrupt FTX seeks to exclude Dubai unit from US wind-down proceedings

    Crypto exchange FTX, which filed for bankruptcy in the US last November, is seeking to exclude its Dubai unit from the wind-down proceedings. FTX Dubai, which was set up in February 2022 and is owned by the company's European arm, did not conduct any business prior to the bankruptcy filing in the UAE. The estate argues that FTX Dubai is balance sheet solvent and a voluntary liquidation procedure in accordance with UAE laws would allow for a timely distribution of the positive cash balance after payment of all outstanding liabilities and liquidation of all assets. A hearing on the matter is scheduled for Aug. 23.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company
Cointime

Hot Coins

Trending