Celsius seeks show of client support as lawyers push for Chapter 11 bankruptcy | Crypto Craft

  • Celsius seeks show of client support as lawyers push for Chapter 11 bankruptcy

    From theblock.co

    Embattled crypto lender Celsius Network is resisting a recommendation from its own lawyers to file for Chapter 11 bankruptcy — and seeking a show of support from users to help win the internal argument against the suits. With the company’s management prevented from making any public pronouncements due to legal advice, Celsius believes many of its retail clients would prefer the firm to avoid bankruptcy, according to people with knowledge of the situation. To that end, users can show their support by engaging “HODL Mode” in their Celsius account, said the people. Celsius didn’t respond to a request for ... (full story)

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Goat
Jun 28, 2022 12:20am
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The cult leaders who predict spaceship landings etc rarely lose members on the days when their predictions are proven wrong. Cult dedication actually grows when the prediction falls apart. What I'm saying is, people are crazy as shit and this "HODL mode" might actually save Celsius!!!
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yieldjunkie
Jun 27, 2022 6:23pm
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users can show their support by engaging “HODL Mode” in their Celsius account
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Celsius’s move is a last throw of the dice as it teeters on the edge of bankruptcy after being forced to freeze client withdrawals on June 12.
Hah! These guys are jackasses.
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