Tether USDt

There has been a significant development in the crypto lending industry as Celsius has reached a settlement agreement with its creditors and Series B holders. This agreement is crucial for Celsius as it has been struggling with bankruptcy issues. According to a tweet by software developer Cam Crews, Tether, a well-known player in the crypto industry, now holds 7.7% of Celsius shares after its collapse.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/529d8313a95d43d2b0d093e9ab4b4bfc.png" />As part of the <a href="https://cases.stretto.com/public/x191/11749/PLEADINGS/1174907182380000000004.pdf" rel="noopener noreferrer nofollow">settlement</a>, an amount totaling $25 million would be distributed to the shareholders, with the funds derived from the sale of GK8, a self-custody platform. The majority of this amount, approximately $24 million, would be allocated to cover the legal expenses incurred by Celsius. The remaining $1 million would be divided among the group of shareholders.Galaxy Digital, a leading digital asset firm, <a href="https://www.binance.com/en/feed/post/103971" rel="noopener noreferrer nofollow">acquired</a> GK8 from Celsius during the bankruptcy proceedings. Although specific details regarding the sale were not disclosed, Michael Wursthorn, a spokesperson for Galaxy Digital, previously indicated that the sale price was significantly lower than Celsius&#39;s original purchase price of $115 million.Read full article at <a href="https://cryptotale.org/tether-secures-7-7-stake-in-celsius-shares-following-companys-collapse/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Tether Secures 7.7% Stake in Celsius Shares Following Company's Collapse

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