Crypto lender Celsius not seeking payments for outstanding loans

This post was originally published on this site

New Jersey-based Celsius said no interest or penalties will be assessed post loan maturity, in a filing at the U.S. Bankruptcy Court for Southern District of New York.

Celsius filed for bankruptcy in July, with estimated assets and liabilities between $1 billion to $10 billion, with more than 100,000 creditors.

The lender also listed a $1.19 billion deficit on its balance sheet and had about 23,000 outstanding loans to retail borrowers totaling $411 million backed by collateral with a market value of $765.5 million in digital assets, as of July 13 this year.