{"id":65730,"date":"2022-08-12T12:52:58","date_gmt":"2022-08-12T09:52:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65730"},"modified":"2025-09-06T21:35:38","modified_gmt":"2025-09-06T18:35:38","slug":"celsius-network-creditors-block-sale-of-part-of-mined-bitcoins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/celsius-network-creditors-block-sale-of-part-of-mined-bitcoins\/","title":{"rendered":"Celsius Network creditors block sale of part of mined bitcoins"},"content":{"rendered":"

The Celsius Network creditors committee, during a bankruptcy court hearing, secured an injunction prohibiting the company from selling part of the mined bitcoins. Decrypt<\/a> reports.<\/p>\n

The initiative group also described Alex Mashinsky’s assurances as \u201cempty and false,\u201d the CEO of the crypto-lending platform, which he gave a few days before the \u0437\u0430\u043c\u043e\u0440\u043e\u0437\u043a\u0438 \u0430\u043a\u0442\u0438\u0432\u043e\u0432 \u043a\u043b\u0438\u0435\u043d\u0442\u043e\u0432<\/a>.<\/p>\n

The committee’s lawyers explained that the move was necessary to gather additional information regarding the sale of the first cryptocurrency and the use of the proceeds.<\/p>\n

In early July, the court allowed the company to spend more than $5 million to complete the construction of a mining facility in Texas. According to the platform’s representatives, this could take around two months. The decision was criticized by the U.S. Department of Justice.<\/p>\n

On July 19, the company \u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u043b\u0430 \u043f\u043b\u0430\u043d \u0440\u0435\u043e\u0440\u0433\u0430\u043d\u0438\u0437\u0430\u0446\u0438\u0438 \u0431\u0438\u0437\u043d\u0435\u0441\u0430<\/a>. It envisages directing the profits of the subsidiary mining company to reimburse losses to users and pay creditors. Prior to this, Celsius Mining \u043f\u043e\u0434\u0430\u043b\u0430<\/a> to the SEC<\/span> for an IPO<\/span>.<\/p>\n

The committee also stated that it intends to obtain the court’s application of \u041f\u0440\u0430\u0432\u0438\u043b\u0430 2004<\/a> as part of a \u201cwide-ranging investigation.\u201d It would entail testimony from interested parties and the production of documents in a process akin to civil litigation.<\/p>\n

As reported, on July 13, Celsius \u043f\u043e\u0434\u0430\u043b\u0430<\/a> for bankruptcy protection in New York under Chapter 11 of the U.S. Bankruptcy Code. The company said its liabilities exceed the assets on its balance sheet by almost \u043f\u043e\u0447\u0442\u0438 \u043d\u0430 $1,2 \u043c\u043b\u0440\u0434<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Celsius Network creditors committee, during a bankruptcy court hearing, secured an injunction prohibiting the company from selling part of the mined bitcoins. Decrypt reports.<\/p>\n","protected":false},"author":1,"featured_media":65731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1162],"class_list":["post-65730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-court-cases"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=65730"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65730\/revisions"}],"predecessor-version":[{"id":65732,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65730\/revisions\/65732"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65731"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}