The bankruptcy of ‘crypto’ hedge fund Three Arrows Capital (3AC) continues to rock the wider digital asset sector, threatening an ever-widening pool of companies that put their trust in a pair of scammers.
Monday’s hearing in the Southern District of New York also revealed that Celsius’ proposed pathway to recouping its massive losses depend on the success of its wholly owned digital currency mining subsidiary, Celsius Mining.
Celsius Network has an estimated 100,000 creditors and has $12 billion under management as of May 2022, although it's unclear what its exact financial position is as of the announcement.
