According to the statement issued by Celsius in the court on Tuesday, this data encryption borrowing company is trying to sell a new data asset token to compensate creditors as part of the reorganization and settlement of bankruptcy plan; As the upcoming controlled cryptocurrency service platform.

A new Celsius token?

At a short video court hearing, the company's lawyer, Ross M. Kwasteniet, said that the reorganization of Celsius into a moderately approved listed company would also generate more assets for creditors than the sale of assets, but these assets could not be settled at the current available price. All reassembly proposals will also be voted by the creditor network at the beginning, mainly including Celsius customers who store cryptocurrency on the company software. U. S. Bankruptcy Judge Martin Glenn will weigh the voting results later and decide whether to accept the proposal at the same time.

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According to Kwastenet, after a data encryption loan giant announced bankruptcy last year, the company tried to sell itself as a better company and also looked for an offer to recover its assets. However, the temptation to bid for individual assets is not enough. In turn, Celsius has been discussing the establishment of new companies with various creditor institutions and distributing new tokens to creditors as part of the compensation plan.

Make it clear that the quotation for some assets is not tenable

A new starting point for the Celsius program

In addition, Kwasteniet said that the company would submit court documents later this week to provide small details about its overall objectives. In addition, he added that all emerging businesses will also use their assets as carriers, including loans and other asset allocation, and hundreds of thousands of cryptocurrency mining machines.

At the hearing, the tax adviser of the company stressed that the field has grown exponentially in the past several months when talking about the topic of data encryption mining.