An unnamed source disclosed that the new bidders are most likely to win the auction as they are established crypto operators.
Leading cryptocurrency exchanges Coinbase and Gemini are parts of the two consortiums set to bid for bankrupt crypto lender Celsius Network’s assets at an auction scheduled for Tuesday, the 25th of April, 2023, according to a court filing and report from Fortune.revealed that the auction would be held at the New York offices of Kirkland and Ellis, the law firm handling Celsius’ bankruptcy, from 2 pm EPT.
about 70% of their funds in liquid crypto assets. Users with Earn claims of more than $5,000 will receive liquid crypto assets and tokenized equity on the new Celsius platform wholly owned by the creditors.Fortune that one of the two consortiums is most likely to win the auction because they are backed by well-known crypto entities that could extract more value by operating instead of liquidating the bulk of Celsius’ assets, unlike NovaWulf.
The assets include holdings in several venture capital-backed startups, a loan book, and many crypto mining machines that could generate immediate returns for their new owner.
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