Celsius Network has received a green light from a federal bankruptcy judge bidding procedure plans.
The next step will include setting up a motion schedule to see the crypto lender‘s assets sold by the end of the year.
On October 21, Celsius announced through Twitter, “at today’s hearing, we made progress on important issues, including bidding procedures for a potential sale of Celsius assets, cash management, and appointing a fee examiner to monitor professional fees. Our next hearing is currently scheduled for November 1.”
However, Celsius can still apply for a standalone proposal to reorganize. But the procedures lay out the steps for selling the platform’s assets.
The company also has plans to request bids for the retail asset business. They include the earn accounts and coin balances, the retail and institutional lending portfolio, its swap services, the staking platform, the payment feature, the decentralized finance arm…
