The New Jersey-based company, which filed for bankruptcy in July, wants to mine bitcoin to repay creditors, and recently received court approval to spend US$5.2 million on a mining facility and associated costs. But lawyers representing unsecured creditors of the crypto platform said they have “significant questions regarding how the debtors operated their businesses.” (The Logic)
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The New Jersey-based company, which filed for bankruptcy in July, wants to mine bitcoin to repay creditors, and recently received court approval to spend US$5.2 million on a mining facility and associated costs. But lawyers representing unsecured creditors of the crypto platform said they have “significant questions regarding how the debtors operated their businesses.” (The Logic)
Talking point: Celsius, which offers bank-like services for crypto users, suspended withdrawals in June amid the crypto crash. The Caisse de dépôt et placement invested about $200 million in the company last year, despite several red flags surrounding the business, which now poses the potential for reputational risk for Quebec’s public pension fund manager.
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