Court sets Celsius Network deadline for asset sale

The Celsius Network asset sale auction will take place no later than 10:00 (ET) on October 20. This follows from решения of the court overseeing the bankruptcy case of the crypto-lending platform.

According to Bloomberg, one of the bidders in the upcoming auction will be Sam Bankman-Fried’s FTX.

Requests to participate are due by October 17 at 16:00 (ET). The sale hearing will take place on November 1 at 11:00 (ET).

27 сентября американский филиал FTX won the auction по продаже активов обанкротившегося кредитора Voyager Digital, предложив около $1,4 млрд. 

According to PeckShield, Celsius CEO Alex Mashinsky, through an intermediary, transferred 20 000 CEL (~$27 000) to an address linked to FTX.

#PeckShieldAlert The address labeled as Mashinsky 0x23ce…e7c9 transferred ~20k $CEL ($27k) to mitrovic.eth 0x2C7a1f6408 and mitrovic.eth 0x2C7a1f6408 transferred these $CEL to FTX pic.twitter.com/c8s5qIqE8b

— PeckShieldAlert (@PeckShieldAlert) October 4, 2022

Earlier, ForkLog reported that Mashinskywithdrawn $10 million before Celsius operations were blocked.

On June 13, the crypto-lending platform suspended withdrawals, exchanges and transfers between accounts.

A month later, Celsius and some affiliated entities filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The platform’s liabilities exceeded its assets by $2.85 billion.

In August, the U.S. Trustee’s Office said there were “numerous questions” to the firm’s management. Previously the FT reported on Mashinsky’s involvement in carrying out the crypto-lending platform’s trading strategy, which cost “millions of dollars”.

In September, the CEO presented a plan to rescue Celsius from bankruptcy, according to the press. Later, Mashinsky left his post.

Earlier, ForkLog reported that the company is considering the issuance of wrapped tokens as part of the restructuring plan.

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