Celsius informs state regulators that it’s filing for bankruptcy ‘imminently,’

Per CNBC:

Crypto company Celsius is in the process of filing for Chapter 11 bankruptcy, according to a source familiar with those discussions.

The company’s lawyers were notifying individual U.S. state regulators as of Wednesday evening, according to the source, who asked not to be named because the proceedings were private. Celsius plans to file the paperwork “imminently,” the person said.