June 15 (Cointime) - Crypto lender Celsius has submitted a revised bankruptcy filing to a New York court after being acquired by Fahrenheit. The new plan involves selling all altcoins from customers (excluding Custody and Withhold accounts) and converting them into Bitcoin and Ethereum from July 1. However, the restructuring proposal may face opposition from borrowers who object to Celsius demanding repayment of loans without fulfilling contractual obligations to return collateral. Celsius has also requested permission to appoint Chris Ferraro as foreign representative for the UK, to safeguard assets there and acknowledge the US Chapter 11 as the "foreign main proceedings".

Bhutan's national investment arm, Druk Holding & Investments, has been revealed to have secretly invested millions of dollars in Bitcoin and other cryptocurrencies through insolvent crypto lenders BlockFi and Celsius, according to court records. Druk had withdrawn over $65 million and deposited approximately $18 million in digital assets over the course of three months covered by the Celsius filing. BlockFi has accused Druk of failing to return a $30 million loan, even after the lender liquidated collateral of 1,888 Bitcoin. If confirmed, this would be an unusual move for Druk, which is supposed to encourage domestic business projects. In 2021, Bhutan's central bank, the Royal Monetary Authority, collaborated with Ripple on a pilot project for a CBDC solution.

In a recent interview, Ledger CEO Pascal Gauthier shared his unwavering belief in the decentralized nature of cryptocurrencies.