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Celsius halted user withdrawals citing “extreme market conditions” in June 2022.
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Miners’ revenue fell to $41.6 Million on November 21.
Bankrupt cryptocurrency exchange Celsius Network is turning to Bitcoin (BTC) mining according to the news agency Reuters. The decision comes after regulators showed skepticism towards the company’s other “planned business lines.” Celsius was among the firms that went down during the Luna ecosystem collapse in 2022. The company’s former CEO Alex Mashinsky was arrested on criminal and civil charges in July.
A Chance For Revival
A Manhattan court had approved the company’s Chapter 11 plan earlier this month. The restructuring plan will include returning cryptocurrency to customers and creating a firm owned by the company creditors, according to Reuters. The crypto exchange was valued at $3 Billion before falling into bankruptcy.
The company halted user withdrawals, transfers, and swaps citing “extreme m
We współpracy z: https://www.thecoinrepublic.com/2023/11/22/celsius-network-turns-to-bitcoin-mining-as-halving-closes/
