An effort to create a new crypto services company from the ashes of Celsius has met with a roadblock in the back-and-forth between the SEC, Celsius Creditors Committee, and Fahrenheit, the investment entity which won the right to issue shares in the venture in a May bidding contest.
Amidlines of inquiry by the SEC as to the details of the bankruptcy recovery plan, the decision has been left to the committee on how to address them. Nevertheless, Fahrenheit had the Celsius restructuring given the court’s seal of approval earlier in the month.
Verdict handed down by Bankruptcy Court JudgeMartin Glenn of
the Southern District of New York saw the creditors of Celsius vote heavily in favor of the restructuringon Septemberai: A distribution of $2billion in Bitcoin videomins and Ether liquidations shall duly behanded out ahead of 534 new anticipated equity stakes in the retrospectively named NewCo.
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