New York judge urges SEC to quickly review Celsius restructuring plan

On November 1, New York judge Martin Glenn urged the US Securities and Exchange Commission (SEC) to decide quickly whether to authorize the transformation plan of cryptocurrency lending company Celsius Network LLC, which is undergoing bankruptcy proceedings. Judge Glenn said he will make a ruling on Celsius' proposal as soon as possible. However, even if he approves Celsius' transformation plan, the company and its creditors still need SEC approval. If Celsius' exit from Chapter 11 fails, the company may be liquidated.