Celsius Network, one of the world’s largest cryptocurrency lenders, has filed for bankruptcy, as a wave of digital asset companies have frozen assets and then entered restructuring amid a sharp sell-off in cryptocurrencies this year.
The Hoboken, New Jersey-based company’s Chapter 11 bankruptcy filing in a New York court comes roughly a month after Celsius froze its customer assets, trapping billions of dollars across more than a million accounts.
The court filing listed between $1bn and $10bn in assets, the same amount in liabilities and more than 100,000 creditors.
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