the staff of the Ridgewood blog
Hoboken NJ, Celsius has started the process of filing for Chapter 11 bankruptcy protection. The Hoboken, New Jersey-based company made headlines a month ago after freezing customer accounts, blaming “extreme market conditions.”
Hoffa Search Leads Back to the King of Con https://theridgewoodblog.net/hoffa-search-leads-back-to-the-king-of-con/
It currently has $167 million in cash to support operations as it restructures to maximize value for all stakeholders. The company had more than 100,000 creditors with almost $12 billion in assets under management in May. It is currently being investigated by several state regulators. Celsius customers may have to wait years to see their money again and may only be entitled to pennies on the dollar.
I wonder how many billions will be lost across all these “crypto currencies” by the end of this shake out
Fake money is now worthless? Ha!