US court rejects creditors’ bid to freeze Cred assets

The Delaware bankruptcy court rejected the emergency motion by Cred’s platform users to freeze its assets held on exchanges, Cointelegraph reports.

During the November 25 hearing, Judge John Dorsey said he could not grant the motion without evidence related to the status and ownership of the crypto assets. He said the question of freezing them is expected to be considered on December 9.

Back in September Cred joined Visa’s Fast Track program. On October 28 the crypto-lending platform announced an incident that required law enforcement involvement.

Back in November, Cred began bankruptcy proceedings in an effort to maximise value for creditors.

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