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<ul class="news-points"> 
 <li>Celsius received court approval to convert their alt holdings to BTC and ETH.</li> 
 <li>The majority of altcoins that Celsius holds have seen their prices drop more than 60%.</li> 
 <li>At press time, CEL was trading at $0.1578 after it gained more than 4% over the past 24 hours.</li> 
</ul> 
Bankrupt <a href="https://coinedition.com/tag/celsius-cel/">crypto lender Celsius</a> has received court approval to convert its altcoin holdings into more liquid cryptos as part of its restructuring plan, according to the analytics platform Kaiko. In their latest report, the platform revealed that Celsius will convert its holdings into Bitcoin (BTC) and Ethereum (ETH). 
In an effort to facilitate this process, the company has reportedly moved some of its holdings to market maker Wintermute and stablecoin issuer Paxos. However, the valuation of Celsius’ holdings in terms of USD remains unclear. 
While Bitcoin Cash (BCH) and Litecoin (LTC) saw surges in June, fueled by the launch of the institutional exchange EDX, Celsius’ other holdings have suffered losses ranging from -84% to -6% over the past year. The CEL token, representing more than 65% of Celsius’ altcoin holdings, has experienced a decline of 83%, second only to SRM, which is down 84%. 
The lack o…
The post <a rel="nofollow" href="https://coinedition.com/celsius-receives-court-approval-to-convert-their-alt-holdings/">Celsius Receives Court Approval to Convert Their Alt Holdings</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Celsius Receives Court Approval to Convert Their Alt Holdings

Coin Edition

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