Can Celsius sell non-BTC and non-ETH cryptocurrencies?

Celsius “may sell or convert any non-BTC and non-ETH cryptocurrency, crypto tokens, or other cryptocurrency assets other than such tokens that are associated with Withhold or Custody accounts … to BTC or ETH commencing on or after July 1, 2023,” Glenn’s ruling said.

What will Celsius's bankruptcy mean for Bitcoin and ether?

Nevertheless, bankruptcy Judge Martin Glenn’s all-clear means Celsius will soon begin exiting many of its positions in favor of bitcoin and ether, the two assets that will ultimately be distributed to creditors who have waited nearly a year for their money back.

Will Celsius go bankrupt?

“Everyone assumed Celsius would disappear completely like the other crypto lenders that were filing bankruptcy around the same time,” said David Barse and Alan Carr — members of a special board that steered Celsius through bankruptcy. “Our exit from bankruptcy is the culmination of an extraordinary team effort.”

What happened to crypto lender Celsius?

Crypto lender Celsius’ exit from bankruptcy follows over 18 months after it halted withdrawals and collapsed in 2022. Celsius has emerged from Chapter 11 bankruptcy in the United States and is set to start distributing $3 billion worth of crypto and fiat to creditors, along with launching a new Bitcoin mining firm.