https://arstechnica.com/tech-policy/2022/07/crypto-lender-celsius-files-for-bankruptcy-still-wont-let-users-withdraw-funds/ > Cryptocurrency loan company Celsius filed for bankruptcy under Chapter 11 yesterday, one month after the lender announced it was suspending withdrawals. The petitions for reorganization give Celsius "the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry," the company said. > In an FAQ updated yesterday, Celsius told users that withdrawals are still suspended. As part of the bankruptcy process, Celsius said it "intend[s] to put forward a plan that restores activity across the platform." But it offered no timeline for allowing withdrawals and other suspended transactions again: