Celsius lately transformed almost 23,000 Wrapped Bitcoin (WBTC) tokens into Bitcoin. Celsius has been one in all a number of crypto lenders to experience monetary difficulties during the recent bear market. Celsius has been working to find a way forward. Final month, it proposed a sale to NovaWulf Digital Management, an investment agency led by former Wall Road executives. Celsius, a cryptocurrency lending platform that has been struggling financially, lately converted practically 23,000 Wrapped Bitcoin (WBTC) tokens into Bitcoin. The conversion was accredited by the Celsius creditor committee and occurred on February 28th, in accordance with court filings associated to Celsius’ ongoing Chapter 11 bankruptcy proceedings. No clarification was given for the transaction, which involved moving WBTC tokens from the Ethereum blockchain to the Bitcoin blockchain. WBTC is a token that is pegged to the price of Bitcoin and is used to facilitate transactions on the Ethereum community. Celsius has been one in all several crypto lenders to expertise monetary difficulties during the latest bear market.