According to statements made by Celsius in court on Tuesday, the crypto-lending firm is contemplating the issuance of a new digital asset token in order to compensate creditors as part of its proposal to reorganize & emerge from bankruptcy; as an upcoming regulated cryptocurrency platform.
During a video-court hearing, the attorney for the company, Ross M. Kwasteniet, stated that reorganizing Celsius into a publicly traded company that is properly licensed would bring in more money for creditors than selling assets, that are difficult to liquidate at the prices that are currently available.
This is a developing story and is being frequently updated.
The post Breaking: Celsius To Repay Creditors By Issuing New Token appeared first on CoinGape.
