Celsius Proposes “Recovery Corporation” to Repay Creditors

The legal team of the bankrupt cryptocurrency lending firm Celsius Network LLC announced on Tuesday that the company is working on reinventing itself as a new, publicly traded “recovery corporation,” adding that it may issue a token to repay its creditors. According to reports by Bloomberg and some additional information provided by CoinDesk, Celsius’s legal team said that the crypto lender had devised a new plan to reinvent itself as a new, publicly traded “recovery corporation” to exit bankruptcy proceedings.