Celsius Drops Staking Plans, Will Focus Only on Bitcoin Mining in Bankruptcy Reorganization
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Celsius will now focus solely on mining bitcoin in its bankruptcy reorganization, dropping previous plans to do staking as well.
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The move comes after feedback from the SEC on Celsius's original reorganization plan.
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A judge had previously approved Celsius's plan to transfer assets to Fahrenheit Holdings for the creation of a new public company doing mining and staking.
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After the SEC feedback, assets meant for the new company will be retained to pay Celsius creditors instead.
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Celsius says it still expects creditor payouts to begin in January 2024 as planned.