Celsius Network approved to convert altcoins into BTC or ETH

The United States Bankruptcy Court for the Southern District of New York has approved bankrupt crypto lender Celsius Network’s plan to convert its altcoins into Bitcoin (

The new owners have announced their intention to develop a revised bankruptcy plan. Although specific details of these plans have yet to be disclosed, it’s now clear that the owners will exclusively distribute the assets in Bitcoin and Ether.

Following the Celsius Network’s bankruptcy, companies such as Voyager Digital and FTX faced financial challenges, prompting them to explore unique strategies to address creditor demands for reimbursement.

Magazine: Celsius and Elon Musk: Crypto Twitter Hall of Flame