Crypto Live News

Opposition Mounts Against Celsius Network’s Master Restructuring Plan

Author: Qadir AK Feb 4, 2023 16:34

Qadir AK

Author

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Creditors and the US government oppose Celsius Network’s plan to distribute Asset Share Tokens over five months, with creditors calling for immediate liquidation. The company, accused of minting new tokens to boost profits, raised $32 million in an ICO and has diversified into crypto mining. Creditors are calling for the liquidation of the company, including its mining rigs. A hearing is scheduled for February 15.