Celsius’ ETH sales raise cash, eyebrows from creditors

Bankrupt crypto lender Celsius could exit bankruptcy as early as January, if stakeholders agree to move forward on a court approved plan.

Ethereum chain watchers observed the wallets belonging to the debtors have sold close to $250 million in ether in recent months, an amount that roughly matches the expected capital needs of the entity, known as MiningCo, that would emerge from bankruptcy. 

The recent developments in the Celsius case reveal a shift in the company’s post-bankruptcy business plans, primarily influenced by regulatory considerations and the need to satisfy creditor claims.

Initially, the restructuring plan for Celsius included not only bitcoin mining but also…

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