Celsius Network considers alternative offers from potential buyers.

03/09/2023 03:28 • Metaverse Matters • 91 views

On March 9, Chris Koenig, a lawyer of Celsius Network, revealed at a hearing in the Manhattan Bankruptcy Court on Wednesday that although the asset management company NovaWulf Digital Management had made an offer, the company was still open to a better offer, and it and its creditor committee met with a potential buyer two days ago to review the alternatives.

Celsius is still open to other bids, despite NovaWulf’s previous bid

Analysis based on this information:

Celsius Network has been going under bankruptcy procedures, and a recent hearing in the Manhattan Bankruptcy Court revealed that NovaWulf Digital Management had made an offer for the asset management company. Chris Koenig, a lawyer for Celsius Network, stated that the creditor committee and the company met with a potential buyer two days ago to consider other alternatives.

The revelation shows that the current offer from NovaWulf Digital Management may not be the best deal for Celsius Network, and they are exploring other options. Although the buyer’s identity was not disclosed, this move indicates that there could be more interest in acquiring the company.

The cryptocurrency industry has been booming lately, and it’s not surprising to see interest in a company that offers interest-earning accounts and loans using cryptocurrency as collateral. Celsius Network has reported significant growth over the years, with more than $10 billion in assets and over a million users. Despite the bankruptcy proceedings, there are still potential buyers interested in acquiring the company, which speaks volumes about the growth and potential of the cryptocurrency industry.

Furthermore, the fact that the creditor committee is involved in the decision-making process is noteworthy. The committee is responsible for representing the interests of the creditors, which means that their decision will have a significant impact on the outcome of the bankruptcy proceedings. By meeting with potential buyers, the committee is ensuring that they consider all options before making a final decision.

In conclusion, Celsius Network’s open-mindedness towards alternative offers from potential buyers may result in a better deal for the company than the current offer from NovaWulf Digital Management. The hearing in the Manhattan Bankruptcy Court has shed light on the possibility of more interest in the cryptocurrency industry, and the involvement of the creditor committee is a positive sign that all options are being considered.

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Celsius Network considers alternative offers from potential buyers.

Celsius is still open to other bids, despite NovaWulf’s previous bid

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