Digital asset investment firm NovaWulfDigital will look to turn a new page with a new company, made up of $2 billion of bankrupt CelsiusNetwork's assets, that will have tradable tokenized equity. egreechee reports
, according to a presentation filed with the bankruptcy court. Figure Technologies will also provide infrastructure for the tokenized securities.
How Celsius creditors' claims will be treated in the current bankruptcy plan, excerpt from presentation filed with the court on March 1. Taking on Celsius’ new chapter requires a certain amount of house cleaning: The new firm will have a new name and none of the pre-bankruptcy leaders will be involved, said NovaWulf’s New.from a court-appointed examiner after the bankruptcy.
Celsius was also using stablecoins bought with user funds as collateral to fund “the entire mining asset,” said CEO Chris Ferraro in a Slack message, according to the examiners' report. The company was doing the same to prop up other parts of its business.
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