Crypto lender Celsius Network files for bankruptcy after cash crunch

Cryptocurrency lender Celsius Network filed for Chapter 11 bankruptcy, the latest casualty of a $2 trillion crash that has wiped out some of the industry's bigg­est names and exposed hun­dreds of thousands of individual investors to steep losses. Celsius, which has more than 100,000 creditors, said it took the step to stabilise its business and work out a restructuring for all stake­holders.
The filing was done in the Southern District of New York. The company, one of the largest Cryptocurrency , had amassed more than $20 billion in assets by offering interest rates as high as 18 per cent to depositors before it halted all withdrawals in June amid a panic run by clients.

Going belly up

Celsius has seen a change of -85.81% YTD.

It is classified under CoinDesk's Digital Asset Classification Standard

Celsius Market Cap


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