Crypto firm Celsius Network LLC, which has filed for Chapter 11 bankruptcy, has secured Court permission to sell mined Bitcoin.
The Texas State Securities Board has filed a notice of hearing against Alexander Mashinsky, CEO of Celsius Network.
Celsius wants to continue to sell, pledge, transfer, assign, or otherwise monetize the Bitcoin generated from its mining activity.
Clients displeased with the actions of Celsius management bombard the New York Southern Bankruptcy Court with letters.
The Department believes Celsius is deeply insolvent and lacks the assets and liquidity to honor its obligations to account holders.