PANews reported on June 15 that according to a document filed on June 14, the Celsius Debtors and Official Committee of Unsecured Creditors intends to convert all altcoins except Bitcoin and Ethereum into these two cryptocurrencies with court approval. This will not affect tokens held in withheld or escrow accounts, and sales will begin on July 1. If there are objections, the court will deal with the objections at a hearing at 10:00 a.m. EST on June 28, 2023. The document states that this conversion will not affect the claims of any creditor. The debtor will also try to maximize currency conversions as much as possible.
As reported earlier today, Celsius may face opposition from creditors after submitting a new bankruptcy plan after Fahrenheit won the bid for its assets at an auction.