For subscribers
Are cryptocurrency players too close for comfort?
Sign up now: Get ST's newsletters delivered to your inbox
A brutal sell-off has wiped out more than US$2 trillion from the global digital token market since November.
PHOTO: AFP
SINGAPORE - The cryptocurrency sector, where prices have yet to hit bottom, is bracing itself for a further onslaught as prominent player Celsius Network's bankruptcy filings could shed light on how intertwined industry players are and how they recycle capital.
The retail lender on Thursday (July 14) filed for bankruptcy protection - or Chapter 11 - in New York, forced by the tumble in digital currency prices that has left a gaping hole in its balance sheet, reportedly to the tune of billions.
