It appears that activities are about to kick-start for the defunct Celsius Network, as the crypto lending firm disclosed yesterday, the 20th of December 2022, that since September earlier this year, it has continued to enjoy the attention of parties who are above 125 in number, with about 30 potential buyers who have already signed non-disclosure contracts.
We Have A Plethora Of Bids To Choose From- Celsius
The defunct Celsius Lending Network has announced that it has continued to enjoy the attention of interested parties who are up to 125 in number since as far back as September this year. As it is, according to the company document that it filed yesterday, the lending platform already has about 30 potential buyers who are bidding for various parts of the company and have already signed non-disclosure contracts.
According to Celsius, the company has currently received a large number of proposals outlining various possible contracts and organisational structures to buy its assets, including transferring the company’s customers to the acquirer’s network and depleting their assets.
In addition to this, the filed document also stated that the company has received a lot of bids that are single-asset in nature.
Celsius Network Likely To Resume Serious Business
With the document filed, it appears that Celsius Network is about to get back on track and resume serious business activities once again.
According to previous documents provided by Celsius, the auction as regards the company’s various asset classes has been delayed till January next year. The original date, which was December 15, has been replaced by a new timeline of January 10, 2023, and the bid deadline was met on December 12.
From the company’s latest update, it possesses bitcoin valued at around $2.6 billion as of the 25th of November earlier this year, funds that, when added with all of the company’s assets that are not crypto, are still not enough to offset its debts completely and will still leave a deficit of $1.2 billion.
As it is now, Celsius Network is assuring its customers that the company’s affairs are doing really well, with its current mining operations generating substantial yields. Additionally, with the deployment of new mining equipment, the company has consistently generated excellent cash flow from operations, which serves as an indication that things might soon return to normal.
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