Celsius is weighing a crypto bankruptcy token to pay back creditors in reorganization

• Celsius is considering issuing a crypto token to repay creditors, the company said in a bankruptcy court hearing. 
• The move would be part of the lender's reorganization plan to exit bankruptcy. 
• Lawyers for the firm say reorganizing would yield more money for creditors as opposed to liquidating assets. 

Celsius is weighing a plan to repay creditors by issuing a new cryptocurrency, the lending platform said in a Tuesday court hearing. 

The move would be part of the firm's reorganization plan to exit bankruptcy. Lawyers for Celsius said that reorganizing into a publicly traded company with the proper oversight and licenses would end up yielding more money for creditors as opposed to liquidating assets at depressed prices.