Zajmodavac kriptovaluta Celsius proglasio je bankrot po poglavlju 11 u New Yorku

Crypto lender Celsius has declared Chapter 11 bankruptcy, court filings show.

The firm declared assets between $1 billion and $10 billion, with an equal amount in estimated liabilities, according to the Chapter 11 petition.

Celsius claimed more than 100,000 creditors in its petition. The petition names Pharos USD Fund SP and Pharos Fund SP as its largest unsecured creditor, with an unsecured claim of approximately $81 million. Other named creditors include ICB Solutions, The Caen Group LLC, Alameda Research, B2C2, and Covario AG, among others.

In a statement, Celsius said it “has $167 million in cash on hand, which will provide ample liquidity to support certain operations during the restructuring process.”

The firm is being represented by Kirkland & Ellis LLP, per the petition. A total of eight Celsius-related entities are declaring bankruptcy.

Osnovan od strane Alexa Mashinskyja i Daniela Leona 2017. godine, Celsius je maloprodajnim investitorima ponudio atraktivne povrate na njihova kriptovalute pod sloganom „odbacite banku sami“. Kompanija, koja je prošle godine preselila sjedište iz Londona u New Jersey, narasla je na upravljanje imovinom od više od 10 milijardi dolara i potraživala je više od 1.7 miliona korisnika. 

But this year’s crypto market slide left Celsius insolvent, and on June 12 it froze client withdrawals, transfers and swaps.

As The Block reported last month, Celsius’s lawyers had been pushing for it to enter Chapter 11 bankruptcy for a while — while the company’s executives attempted to avoid it at all costs. The firm had instead sought a show of support from app users to help win the internal argument. Amid the tension, the Wall Street Journal reported this week that Celsius had replaced its legal advisers. 

Stečaj iz poglavlja 11 omogućava kompaniji da nastavi poslovanje uz izmirivanje obaveza prema dužnicima. Ovo se obično sprovodi tako što se predlaže plan reorganizacije koji treba da odobre poverioci i da nadgleda pravni tim.

Since halting withdrawals in June, Celsius’s woes have mounted — with state regulators in the US reportedly lining up to investigate its business practices. This week, the Vermont Department of Financial Regulation said Celsius’s representations about the safety of customer funds were “untrue” and accused the company of engaging in an “unregistered securities offering” by offering cryptocurrency interest accounts to retail investors. 

The state of Celsius’s finances has scared off potential saviors. The Block reported last month that crypto exchange giant FTX looked at making a deal with the troubled firm but ultimately walked away after finding a $2 billion hole in its balance sheet.

“This is the right decision for our community and company,” Mashinsky said in a statement. “We have a strong and experienced team in place to lead Celsius through this process. I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.”

Petition by MichaelPatrickMcSweeney

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