CELSIUS TO POLL CUSTOMERS ON LAUNCHING NEW USER-OWNED COMPANY

Summary from the TLDR Crypto newsletter

Bankrupt crypto lender Celsius Network is set to poll account holders about a proposal to relaunch as a user-owned company, distributing roughly $2 billion in Bitcoin and Ether. The approval by US Bankruptcy Judge Martin Glenn hinges on Celsius providing more details regarding industry volatility and potential operating challenges. The proposed company, backed by investment firm Arrington Capital, would use equity to partially repay customers and aims to start repaying creditors by the end of 2023.