Sumary of Celsius has a Hail Mary bankruptcy plan: Turn its debt into a new cryptocurrency:
- Since bankrupt crypto lender Celsius froze withdrawals in June, customers funds have been in limbo.
- The company wants to issue an IOU cryptocurrency to customers that signed up for some of its accounts.
- Goldstein said Celsius will release wrapped tokens, which will serve as an iou for customers.
- That a hazardous wager on an increase in value for a nascent token from a company that just been through bankruptcy.
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