Major crypto lender Celsius files for bankruptcy

U.S. crypto lender Celsius Network says it has filed for bankruptcy in New York. New Jersey-based Celsius froze withdrawals last month, citing "extreme" market conditions. The company estimated its assets and liabilities as between $1 billion to $10 billion, with more than 100,000 creditors. Celsius's move in June prompted state securities regulators in New Jersey, Texas and Washington to launch investigations into the firms' business model after a sharp sell-off in the crypto market spurred by the collapse of major tokens terraUSD and luna in May. The firm has asked the court to allow it to continue operations such as paying employees, the company said in a statement it was not requesting authority to allow customer withdrawals, adding it had asked Source