Celsius changes legal team and pays off $20 million in Aave debt
Beleaguered platform continues to reduce debt to decentralized finance (DeFi) lending protocols, after repaying 20 million USDC in Aave.< /p>
New
Crypto lending platform Celsius has reportedly hired attorneys from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that helped Voyager Digital with its bankruptcy filing last week.
According to a July 10 Wall Street Journal report, the company has hired attorneys to advise on options, including filing for bankruptcy in place of previously hired law firm Akin Gump Strauss Hauer & Feld LLP .
Kirkland & Ellis LLP describes itself as an international law firm serving clients in private equity, mergers and acquisitions and other corporate transactions, having been founded in 1909.
>The law firm was also hired as general bankruptcy counsel for Voyager Digital in its bankruptcy proceeding, which it filed in court for the Southern District of New York on July 5, days after having suspended transactions, withdrawals and deposits for liquidity problems.
Despite ongoing concerns that the crypto lender could follow a similar path, Celsius has continued to reduce its debts to decentralized finance (DeFi) lending protocols, after repaying 20 million coins in USD (USDC) in Aave.
The latest loan repayment was picked up by blockchain analytics firm Peckshield on Sunday, July 10, sharing a screenshot of a transfer of 20 million USDC from a Celsius wallet to Aave Protocol V2.
>#PeckShieldAlert Celsius (0x8ace...130ee8) refunded $20 million on Aave pic.twitter.com/U7h1Lvyy5x
— PeckShield alert...
Beleaguered platform continues to reduce debt to decentralized finance (DeFi) lending protocols, after repaying 20 million USDC in Aave.< /p>
New
Crypto lending platform Celsius has reportedly hired attorneys from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that helped Voyager Digital with its bankruptcy filing last week.
According to a July 10 Wall Street Journal report, the company has hired attorneys to advise on options, including filing for bankruptcy in place of previously hired law firm Akin Gump Strauss Hauer & Feld LLP .
Kirkland & Ellis LLP describes itself as an international law firm serving clients in private equity, mergers and acquisitions and other corporate transactions, having been founded in 1909.
>The law firm was also hired as general bankruptcy counsel for Voyager Digital in its bankruptcy proceeding, which it filed in court for the Southern District of New York on July 5, days after having suspended transactions, withdrawals and deposits for liquidity problems.
Despite ongoing concerns that the crypto lender could follow a similar path, Celsius has continued to reduce its debts to decentralized finance (DeFi) lending protocols, after repaying 20 million coins in USD (USDC) in Aave.
The latest loan repayment was picked up by blockchain analytics firm Peckshield on Sunday, July 10, sharing a screenshot of a transfer of 20 million USDC from a Celsius wallet to Aave Protocol V2.
>#PeckShieldAlert Celsius (0x8ace...130ee8) refunded $20 million on Aave pic.twitter.com/U7h1Lvyy5x
— PeckShield alert...What's Your Reaction?
