Altcoins can be converted to Bitcoin and Ether by Celsius Debtors as of right now
Join Our Telegram channel to stay up to date on breaking news coverage The plan by bankrupt cryptocurrency lender Celsius Network to exchange its altcoins for Bitcoin and Ether has been granted by the United States Bankruptcy Court for the Southern District of New York. Judge Martin Glenn of the Southern District of New York ordered that starting on July 1st, the embattled cryptocurrency company will be permitted to convert all cryptocurrencies that are not Bitcoin and Ethereum into the top two digital assets by market cap. The liquidations will make it possible for the money to be distributed to creditors soon Following discussions between Celsius and the U.S. Securities and Exchange Commission (SEC), the plan was formally accepted. According to the bankruptcy judge’s decision, the struggling lender may sell or convert the altcoins: “The Debtors, in consultation with the advisors to the Committee, may sell or convert any non-BTC and non-ETH cryptocurrency, cr...