Advertisement
Canada markets close in 4 hours 33 minutes

  • S&P/TSX

    21,812.62
    +104.18 (+0.48%)
     

  • S&P 500

    4,991.91
    -19.21 (-0.38%)
     

  • DOW

    37,932.88
    +157.50 (+0.42%)
     

  • CAD/USD

    0.7280
    +0.0016 (+0.22%)
     

  • CRUDE OIL

    83.15
    +0.42 (+0.51%)
     

  • Bitcoin CAD

    88,529.74
    +1,070.16 (+1.22%)
     

  • CMC Crypto 200

    1,376.50
    +63.88 (+5.12%)
     

  • GOLD FUTURES

    2,410.20
    +12.20 (+0.51%)
     

  • RUSSELL 2000

    1,948.14
    +5.18 (+0.27%)
     

  • 10-Yr Bond

    4.6170
    -0.0300 (-0.65%)
     

  • NASDAQ

    15,427.07
    -174.43 (-1.12%)
     

  • VOLATILITY

    18.41
    +0.41 (+2.28%)
     

  • FTSE

    7,899.82
    +22.77 (+0.29%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6823
    +0.0002 (+0.03%)
     
MARKETS LIVE BLOG:

STOCKS TRADE MIXED AFTER ISRAEL STRIKE-FUELLED TUMBLE

Apple pulls WhatsApp and Threads from China App Store

Crypto lender Celsius not seeking payments for outstanding loans

Reuters
·1 min read
Illustration shows Celsius logo and representation of cryptocurrencies

(Reuters) - Bankrupt crypto lender Celsius Network said on Friday it is not seeking to enforce payment obligations for outstanding loans during its Chapter 11 proceedings and that borrowers do not need to repay such loans.

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.

(Reporting by Juby Babu in Bengaluru; Editing by Kim Coghill)