Celsius (CEL) has been on the headlines recently in line with hearing updates following its filing of bankruptcy and sale of stablecoins.
CEL price spikes 30% as seen in the past 24 hours Price slumps 13.21% despite improvement in social media metrics ETH Merge to impact CEL performance
Celsius Network has recently filed for bankruptcy in July and is now in Chapter 11 proceedings. More so, the network has also requested for court authorization on its plans to dispose its stablecoins to pump up liquidity needed for its operations.
Once this is approved by Martin Glenn, the U.S. presiding judge, the money pooled from the sale of stablecoins would serve as funding for Celsius operations.
The said hearing on the sale of stablecoins