Celsius files for permission to sell its stablecoin holdings


Celsius logo and representation of cryptocurrencies are seen in this illustration taken, July 7, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo

(Reuters) -Bankrupt crypto lender Celsius Network on Thursday, filed a request for sale of its stablecoin holdings, in a bid to generate liquidity to fund its operations.

The New Jersey-based company intends to sell their current and any future stablecoins it may receive, as needed, to fund its Chapter 11 cases, according to a court document.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

   

Next In Tech News

Orange enlists Meta and OpenAI to develop AI language models in Africa
South Africa's MTN launches affordable 5G smartphone
EV maker VinFast narrows Q3 losses, beats revenue estimates on strong demand
UK police forces quietly withdraw from X platform amid content concerns
Trump eyes "AI czar", Axios reports
French genAI startup LightOn rises on market debut
Explainer-What's behind the private equity battle for Fuji Soft?
US finalizes $7.86 billion chips manufacturing award for Intel
TikTok influencer arrested after allegedly documenting stolen items
What if we could use video games to get kids to exercise more?

Others Also Read