A few days ago Celsius received permission from the bankruptcy judge to convert the crypto assets still held in Bitcoin and Ethereum.
Specifically, starting on 1 July, it began the process of selling all clients’ altcoins, except those in Custody and Withhold accounts, in exchange for BTC and ETH.
As of 5 July, transactions have already taken place that are part of this process.
Celsius is currently selling customers’ assets: https://t.co/9mKvDeHv1L
— Celsians (@CelsiansNetwork) July 5, 2023
Celsius: the crypto conversion process.
As things stand, it is not publicly known when this process will be finished, nor is it known exactly how many altcoins will be sold.
All that is known is that the process was kicked off on 1 July, and that as of 5 July some sales had already been made.
It is worth mentioning that the company, or what is left of it, is now being managed by a bankruptcy trustee, and not by the old owners or directors who took it all the way to bankruptcy.
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We współpracy z: https://en.cryptonomist.ch/2023/07/11/crypto-celsius-liquidations-could-significant/
