The judge of bankruptcy has approved Celsius Network as a cryptocurrency lender to buy bitcoin that the company had mined previously to fund specific operations. The following day, the company’s attorney detailed that Celsius has been offered cash injections, but the lawyer did not disclose who offered the funds and how much was presented.
Celsius Approved to Sell Mined Bitcoin, Lawyer Says Firm Approached With Cash Offers, Company’s Mining Operation Has 58,000 Mining Rigs Deployed
A Southern District of New York court order signed by judge Martin Glenn on Wednesday and filed by courtroom deputy Deanna Anderson explains that Celsius has been granted the opportunity to sell bitcoin the company’s mining operation previously mined. Celsius also offered crypto lending services and ran a Bitcoin mining operation.
A court document from the company’s lawyer Joshua Sussberg explains that the crypto lending firm’s mining operations mined $8.7 million worth of bitcoin last month. The document notes that bitcoin sales occurred before the petition date on July 13, 2022, and Sussberg’s letter said Celsius had “approximately 58,000 [mining] rigs deployed.”
Sussberg told court also that Celsius received cash-injection requests, but did not name the parties interested or the amount offered. The news follows Ripple Labs saying the company was interested in learning about Celsius and the crypto lender’s assets. Ripple’s statement stemmed from when the company was asked why it wanted to comment on Celsius’s bankruptcy court filings.
Celsius Customer Alleges That Centre Consitorium’s Built-in Safety Measures Should Have Prevented Her From Losing 50,000 USDC
Additionally, a myriad of letters addressed to the Southern District of New York judge Martin Glenn continues to flood the court’s filings. Carol Becht (retired) wrote to say that she owned USDC (50,000 USDC) on Celsius. After doing some research about USDC’s backing and how Centre issues the stablecoin, Carol Becht said she could not fathom how her USDC just evaporated. Celsius’s customer made it clear that USDC, the stablecoin USDC, should be treated differently as Circle Financial and Centre are licensed and regulated.
“I do not understand how Celsius USDC can just disappear given safety measures built into USDC by Centre, unless Celsius falsified information,” the Celsius customer wrote to judge Glenn. “I do not believe USDC should be treated the same as crypto holdings in Celsius given the above statements,” the letter to the New York judge concludes.
You think the judge who gave Celsius permission to sell bitcoins was a good thing? How do you feel about the customer who was robbed of 50,000 US dollars? Please comment below to let us know your thoughts on this topic.
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