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New ‘Celsius token’ may be used to repay creditors: report Cointelegraph via biedex.markets

CFTC can issue summons through Ooki DAO’s help chat box, says judge Cointelegraph via biedex.marketsBiedex Markets - stockmarket news, ideas tools, data, analysisCryptocurrencies
CFTC can issue summons through Ooki DAO’s help chat box, says judge Cointelegraph via biedex.marketsBiedex Markets - stockmarket news, ideas tools, data, analysisCryptocurrencies


Bankrupt crypto lending firm Celsius may issue its own token to repay creditors, according to a January 24 report from Bloomberg. The report cites a video court hearing as the source of the information.

According to the report, Celsius attorney Ross M. Kwasteniet told the court that the firm is negotiating with its creditors on how to relaunch the platform and adequately pay them back. The new, relaunched version would be “a publicly-traded company that is properly licensed,” which could allegedly provide more money for creditors than simply liquidating the company. If approved by creditors and the court, the reorganized company would “issue a new token to creditors as part of a payout plan.”

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Written by Sandy Sullivan