Crypto Lender Celsius On Pace to Run Out of Cash by October

Celsius Pays Off Last DeFi Loan, Reclaims Nearly $200M of Wrapped Bitcoin From Compound

“They [Celsius] could obtain debtor-in-possession financing or sell assets,” Brandon M. Hammer, counsel at Cleary Gottlieb Steen & Hamilton, a law firm, told CoinDesk. “However, to take such steps they would need court approval, which requires notice and an opportunity for interested parties, like customers and the creditors committee, to object.” (Neither Hammer nor the law firm are involved in the bankruptcy case.)

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