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Israeli crypto firm Celsius files for bankruptcy

Cryptocurrencies have plummeted in value this year.
Celsius logo.

The Israeli cryptocurrency company Celsius has filed for bankruptcy, becoming the latest casualty in the worldwide cryptocurrency crash. 

The New Jersey-based, Israeli-founded firm filed for bankruptcy in New York City yesterday. Celsius said in a statement that the decision will "provide the Company with the best opportunity to stabilize the business (and) consummate a comprehensive restructuring transaction that maximizes value for all stakeholders.” 

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