U.S. Texas regulators ask bankruptcy court baning Celsius sells its mined bitcoin

08/08 14:23

According to Blockworks, U.S. Texas regulators have asked a US bankruptcy court to deny Celsius’ request to monetize its mined bitcoin, saying it’s concerned about how the proceeds would be used. In a formal objection filed on Friday, shared by Law360, the Texas State Securities Board (SSB) said Celsius’ past admittedly involves “problematic asset deployment decisions, using the mined bitcoin to repay intercompany loans, potential mismanagement, and a continued failure to comply with state regulatory requirements.” Celsius has failed to outline how it plans to benefit its creditors with the sale proceeds.
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