Celsius Drops Crypto Lending Plans, Pivots to Just Bitcoin Mining After Bankruptcy Feedback from SEC
• Celsius Network, a crypto lending company, pivots to only bitcoin mining after bankruptcy, citing feedback from the SEC
• Celsius had planned to also earn fees from staking and managing its portfolio of crypto loans post-bankruptcy
• The SEC has been skeptical of crypto lending activities, arguing they should face more regulation
• Celsius will now liquidate certain assets meant for the new post-bankruptcy company
• The pivot leads to negotiations with Fahrenheit, the consortium selected to lead the reorganized Celsius, over modified terms