Celsius

United

Uniswap

In an ongoing legal process related to the bankruptcy of the crypto lending institution Celsius, which filed for bankruptcy in July 2022, a significant development occurred last week. 
<h2 style="text-align: justify;" id="celsius-converts-its-altcoins-into-btc-and-eth">Celsius Converts its Altcoins into BTC and ETH</h2> 
The United States Bankruptcy Court for the Southern District of New York approved the bankrupt crypto lending company Celsius Network’s plan to convert its altcoins into BTC and <a href="https://en.coin-turk.com/cboe-global-markets-gains-approval-for-margin-crypto-futures-trading/" data-wpel-link="internal">ETH</a>.&nbsp; 
Following the court’s approval, Celsius took action to convert its altcoins into BTC and ETH, initiating the liquidation of its altcoins.&nbsp; 
<img decoding="async" class="aligncenter wp-image-88388 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/07/cel.png" alt="" width="1332" height="574" srcset="https://en.coin-turk.com/wp-content/uploads/2023/07/cel.png 1332w, https://en.coin-turk.com/wp-content/uploads/2023/07/cel-300x129.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/07/cel-768x331.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/07/cel-1200x517.png 1200w" sizes="(max-width: 1332px) 100vw, 1332px"> 
<h2 style="text-align: justify;" id="these-altcoins-are-listed">These Altcoins are Listed</h2> 
Although the US Bankruptcy Court for the Southern District of New York approved Celsius’s conversion of its altcoins into BTC and ETH starting from July 1 on June 30, all the details regarding the sales to be carried out, especially whether all altcoins will be sold, have not yet been clarified to the public. Despite the points that have not been clarified yet, Celsius has taken action to begin the liquidation of altcoins.&nbsp; 
So far, about $74 million worth of altcoins, including Synthetix, Uniswap and ZRX, have been moved from one wallet to another. Moreover, these crypto assets include stable cryptocurrencies such as USDT and USDC. According to crypto data platform Arkham, there are approximately $615 million worth of crypto assets in Celsius wallets, including $296 million in BTC and $120 million in ETH. The list also includes MATIC, <a href="https://en.coin-turk.com/cardano-ada-clings-to-crucial-support-a-glimpse-into-the-future-price/" data-wpel-link="internal">ADA</a>, <a href="https://en.coin-turk.com/chainlink-link-in-a-delicate-balance-fluctuations-and-expectations-in-the-crypto-market/" data-wpel-link="internal">LINK</a> and LTC, including Celsius’s own token, CEL.&nbsp; 
The post <a rel="nofollow" href="https://en.coin-turk.com/bankrupt-crypto-lending-firm-celsius-begins-altcoin-conversion-to-btc-and-eth/" data-wpel-link="internal">Bankrupt Crypto Lending Firm Celsius Begins Altcoin Conversion to BTC and ETH&nbsp;</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bankrupt Crypto Lending Firm Celsius Begins Altcoin Conversion to BTC and ETH

Table of Contents

COINTURK NEWS

Other articles published on Jul 6, 2023

Why is Crypto Market Up Today?

Crypto guru Willy Woo predicts Bitcoin price boom as demand skyrockets

Cronos Labs partners with Protocol Labs on Cronos Accelerator Program to drive Web3 Adoption

Shiba Inu Leader Shytoshi Kusama Holds Fingers Crossed For Elon Musk and Twitter: Details

Conflux Partners with Web3 Protocol Carry Protocol to Enter Korean Market

Bitcoin – Top 5 des facteurs haussiers

Join our free newsletter for daily crypto updates!