NEWS Bankrupt Lending Platform Celsius Agrees To Purchase Bid By Fahrenheit

[Google News Bot]

Bankrupt lending platform Celsius Network LLC has announced that it has selected a proposal by Fahrenheit as the winning bid to lead the company out of bankruptcy, according to reporting by Reuters.Celsius, which filed for Chapter 11 protection in July, sought a buyer to manage its cryptocurrency lending and bitcoin mining businesses. The chosen consortium, Fahrenheit, includes Arrington Capital, a blockchain-based venture capital firm. In addition to the consortium acquiring the company, a new board of directors, primarily appointed by creditors, will oversee the new company formed as a resul ...

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