Tuesday, November 29, 2022
 

Crypto Lender Celsius Tweets About Merge Updates and Angers Users

  • Celsius claims they are following the Merge, and tracking questions from customers regarding possible forks and airdrops.
  • The crypto lender mentions that asset and data security continue to be of “paramount importance”.
  • Celsius claims that they will keep all customers updated through the crypto company’s official channels.

On Tuesday, Celsius claimed they are following the Ethereum Merge, and tracking questions from customers regarding possible forks and airdrops resulting from it, on Twitter. Celsius also mentioned that asset and data security continue to be the “paramount importance”. 

Additionally, Celsius claimed that they will keep all customers updated through the crypto company’s official channels.

After its devastating collapse, Celsius Network LLC had filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York in July.

Celsius estimated its assets and liabilities as between $1 billion to $10 billion, with more than 100,000 creditors. The company has $167 million in cash on hand. Through Chapter 11, Celsius could restructure their financial obligations while operations continue.

Recently, Celsius claimed to have initiated the financial restructuring to stabilize the business and maximize value for all stakeholders. On Celsius’s official website, the crypto bank explained that the goal of the company is to emerge as a stronger organization.

On Twitter, Celsius stated:

Through our restructuring process, we continue to focus on maximizing the value of the estate which includes how, and if, that may be possible in connection with the Merge.

However, there were negative reactions observed on Twitter when Celsius tweeted this update. Many of the users responded by asking Celsius to pay back the money they took from them. One Twitter user claimed to never trust Celsius to hold any crypto assets.

  • Celsius claims they are following the Merge, and tracking questions from customers regarding possible forks and airdrops.
  • The crypto lender mentions that asset and data security continue to be of “paramount importance”.
  • Celsius claims that they will keep all customers updated through the crypto company’s official channels.

On Tuesday, Celsius claimed they are following the Ethereum Merge, and tracking questions from customers regarding possible forks and airdrops resulting from it, on Twitter. Celsius also mentioned that asset and data security continue to be the “paramount importance”. 

Additionally, Celsius claimed that they will keep all customers updated through the crypto company’s official channels.

After its devastating collapse, Celsius Network LLC had filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York in July.

Celsius estimated its assets and liabilities as between $1 billion to $10 billion, with more than 100,000 creditors. The company has $167 million in cash on hand. Through Chapter 11, Celsius could restructure their financial obligations while operations continue.

Recently, Celsius claimed to have initiated the financial restructuring to stabilize the business and maximize value for all stakeholders. On Celsius’s official website, the crypto bank explained that the goal of the company is to emerge as a stronger organization.

On Twitter, Celsius stated:

Through our restructuring process, we continue to focus on maximizing the value of the estate which includes how, and if, that may be possible in connection with the Merge.

However, there were negative reactions observed on Twitter when Celsius tweeted this update. Many of the users responded by asking Celsius to pay back the money they took from them. One Twitter user claimed to never trust Celsius to hold any crypto assets.

 

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