Celsius valuation advisor approves value of debtors’ assets and liabilities
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Joel E. Cohen, a mathematician and biologist representing Celsius Network’s valuation adviser, Stout Risius Ross, confirmed the accuracy of the fair value of certain of the debtors’ assets and liabilities as of May 31, 2023.
Following months of back and forth, most Celsius creditors recently voted in favor of a plan to see approximately $2 billion worth of Bitcoin (
Sporting a similar situation, bankrupt cryptocurrency lending platform BlockFi’s liquidation plan got approval from the New Jersey bankruptcy court.
The repayment amount received by BlockFi’s unsecured creditors will largely depend on whether BlockFi succeeds in its legal battle against FTX and other bankrupt cryptocurrency firms.
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