Bankrupt crypto lending firm Celsius Network has reached an agreement to sell its retail trading platform to NovaWulf Digital Management to distribute the frozen assets between clients, the Wall Street Journal reports, citing a court document filed on Wednesday.
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While the deal is yet to be approved by the court and a majority of Celsius customers, it is expected that users would get a share of their funds stuck on the platform, including bitcoin (EXANTE: Bitcoin) and ether (ETH).
Celsius filed for bankruptcy under Chapter 11 of the US Bankruptcy Code in July last year. The company said the restructuring would help it "maximize value for all stakeholders." As per court documents, Celsius owes creditors more than $4.7 billion.
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