Celsius Network Announces Massive ETH Collateral Pledge, $1.5 Billion Pressure Incoming?

Celsius Network Announces Massive ETH Collateral Pledge, $1.5 Billion Pressure Incoming?

Celsius Network Announces Massive ETH Collateral Pledge, $1.5 Billion Pressure Incoming?

Due to the Securities and Exchange Commission (SEC) rejecting the relief required for the implementation of the first proposed plan in the bankruptcy exit plan, Judge Martin Glenn of the United States Bankruptcy Court has approved the second bankruptcy exit plan previously agreed upon by the creditors of cryptocurrency lending company Celsius Network. This plan entails an orderly liquidation and transition towards establishing a Bitcoin mining enterprise.