Celsius May Offer Creditors a Loss Now, or a Long Crypto Bet

Cryptocurrency lender Celsius Network LLC may use its bankruptcy case to give creditors a choice between taking less than they are owed in cash, or making a bet on the long-term value of the cryptocurrencies at the heart of the company’s failure.

The company opened its first Chapter 11 court hearing Monday with a promise not to force its customers to accept any repayment they may be owed in US dollars or any other so-called fiat currency.