The post Bitcoin Mining Firm Iconic To Close Down Amidst Creditor’s Concerns appeared first on Coinpedia Fintech News
Ionic Digital Inc., a bitcoin mining firm, faces potential liquidation as creditors have raised concerns over its delays and management. The exit of Ionic’s auditor and CEO Matt Prusak has further intensified the concerns. Creditors have also criticized the slow development pace and the board’s lack of experience in the crypto mining industry, seeking to remove the current board of directors. Celsius Network’s bankruptcy proceedings are in progress. Around $2.53 billion has been distributed to 251,000 creditors, covering about 93% of the total amounts owed to those creditors. Meanwhile, 121,000 creditors are still awaiting their distributions.