Celsius Network Asset Auction: Pros, Cons, and the $2 Billion Bet on Crypto’s Future

Crypto lender Celsius Network has completed its asset transfer auction, with consortium Fahrenheit LLC emerging as the winner. Fahrenheit will provide capital, management expertise, and technology to establish a new company under a Chapter 11 plan. Celsius’ liquid crypto will be distributed among account holders, and the consortium will manage the new entity, owned by Celsius creditors.

Crypto Lender’s Sham Merger: Impact on Creditors and Lessons for the Blockchain Future

Defunct crypto lender Celsius Network faces controversy over merging its UK and US entities, with allegations that the distinction is a “sham.” The situation raises concerns about fraudulent activity, transparency, and the impact on the broader crypto market. The upcoming auction for Celsius’ remaining assets may offer customers a chance to recover investments.