Celsius filed for Chapter 11 bankruptcy in July, saying liabilities exceeded assets by more than $1 billion after a crash in crypto prices. The company is trying to restructure and has received multiple offers of fresh cash, a lawyer for the crypto lender said Tuesday. “Due diligence is not a guarantee of success,” Emond said, adding that he has “empathy” for the thousands of clients who’ve seen their funds frozen in the bankruptcy process. The fund said the deal with Celsius marks the ends of its foray into crypto investments.
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