Independent Group Mandates Celsius to Publish Reorganization Plan

• Celsians have issued an ultimatum to Celsius to publish a reorganization plan.
• Celsius’ new CEO has filed a declaration under oath over restructuring activities.
• Customers lose trust in Celsius, doubt plans to restructure.

Stakeholders are raising more questions over the future of the bankrupt crypto lending platform, Celsius. In a tweet, Celsians, a group unaffiliated with the defunct crypto lender, issued an ultimatum to Celsius to publish a reorganization plan.

Celsius must publish the reorg plan by tomorrow.
End of the road.

— Celsians (@CelsiansNetwork) February 14, 2023

Celsians’ ultimatum comes 24 hours after the current Celsius CEO, Chris Ferraro, filed a declaration under oath of his activities toward restructuring the platform. Ferraro became the CEO of Celsius in September 2022, following the resignation of the former CEO, Alex Mashinsky.

In the filing, Ferraro declared he was familiar with the processes taken and the current state of Celsius. He also claimed familiarity with the company’s restructuring efforts, how it runs on a day-to-day basis, and its financial affairs. Ferraro also expressed his willingness to testify on matters concern…

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