By Soma Biswas


Bankrupt crypto platform Celsius Network LLC canceled an auction for the sale of its assets, pushing it back to Feb. 1, according to papers filed by the company Monday.

The assets involved include the company's platform for retail customers, which was scheduled for Tuesday.

The company, along with the official representatives of its customers in the chapter 11 case, decided to delay the auction in order to negotiate with interested buyers to improve their bids.

Celsius has received several bids for some or all of its assets, but not all of the bids received to date meet the criteria that would be deemed as qualified bids to be considered by the company, according to the court filing.


Write to Soma Biswas at soma.biswas@wsj.com


(END) Dow Jones Newswires

01-10-23 1117ET