Beleaguered crypto lender Celsius converted 22,962.8 WBTC into bitcoin on Feb. 28, according to a regulatory filing.
The transaction occurred with the consent of the Celsius’ creditor committee, said a filing in the lender’s Chapter 11 bankruptcy protection proceedings on Friday.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Beleaguered crypto lender Celsius converted 22,962.8 WBTC into bitcoin on Feb. 28.in the lender's Chapter 11 bankruptcy protection proceedings on March 3.
No reason was given as to why the exchange occurred. Wrapped bitcoin, or WBTC, is an ERC-2o token interoperable with the Ethereum blockchain.into Chapter 11 bankruptcy proceedings in July, when it revealed a $1.2 billion hole in its balance sheet. Since then, it's been working through a restructuring process and figuring how to pay creditors.multiple operational failures, dishonest public statements, market manipulation and Ponzi-like recycling of client assets.
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