Celsius Enters Another Chapter
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July 14th, 2022

...Chapter 11 that is.  In a move that was seen a mile away, embattled centralized finance outfit Celsius made it aware to regulators their plans to file for bankruptcy in order to reorganize their debts and assets.  

According to an email sent out to customers late yesterday, they explain (poorly) why they paused activities in the first place and how bankruptcy will help them come back "stronger".  There isn't much else to say about this.  It's probably official that their customers have lost their money due to Celsius' mismanagement.  However, their choice to close off the email with "it is our pleasure to serve you" seems like another poor choice.  I would have rather read "we are sorry for making bad decisions that led us to this end".  That would have felt far more real!  

Written by: nikethereum.eth / Medium

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