Crypto lender Celcius files for bankruptcy amid plunging prices

Celcius, a cryto lender, has filed for chapter 11 bankruptcy.

Celcius is the latest casualty of a $2 trillion dollar crash that has wiped out most industry stakeholders.

The company had amassed $20 billion in assets by offering interest rates as high as 18% to depositors.

They halted all withdrawals in June amid a panic run by clients.

Celcius’s troubles follows a series of bankruptcies in the digital assets space in the past weeks.

source: bloombergbusiness


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