Approbation du plan de restructuration de Celsius par le juge des faillites, avec un changement majeur vers l’extraction minière de bitcoins
A U.S. bankruptcy judge has approved a new restructuring plan for crypto lender Celsius, allowing the company to pivot away from its previously sanctioned bankruptcy plan. The judge’s decision ensures that creditors and customers will not be negatively impacted by the restructuring change.
After the Securities and Exchange Commission (SEC) blocked Celsius’s initial plan, which involved earning fees on validating crypto transactions and launching new business sectors, U.S. bankruptcy judge Martin Glenn in Manhattan noted that the approved November plan was flexible enough to allow Celsius to explore an alternative strategy.
The bankrupt crypto lender will now focus on bitcoin mining operations, pivoting away from its previous plan to expand into different areas of business. This shift will also see Celsius parting ways with external bidders initially designated to manage the new company. Instead, US Bitcoin Corp, led by Asher Genoot from Hut 8, will take the reins of the new creditor-owned mining enterprise.
The move towards bitcoin mining represents a significant departure from Celsius’s initial consortium of bidders, known collectively as « Fahrenheit, » which included Arrington Capital.
Some creditors and the U.S. Department of Justice’s bankruptcy watchdog argued that such a significant change warranted a new creditor vote. While Judge Glenn initially agreed, recognizing the substantial difference in the new mining plan, he ultimately approved the transition without requiring another creditor vote.
Interim Celsius CEO Chris Ferraro praised the court’s decision, stating, « This is an important day for Celsius creditors, and our focus on the swift distribution of cryptocurrency continues to guide us. »
The news comes as Celsius takes steps to allow some customers to withdraw their funds. However, some users have reported difficulties accessing the platform to process their withdrawals.
According to a recent court filing, customers enrolled in the Custody Program and classified as holding « General Custody Claims Class 6A » and/or « Withdrawable Custody Claims Class 6B » will be eligible to initiate withdrawals from the platform starting today. Customers who voted against the reorganization plan will not be included in this distribution. Instead, their funds will be placed in a separate wallet managed by the litigation administrator for the next six months.
