Bankruptcy is a debt relief procedure in which a bankruptcy court is used to relieve a debtor's obligation to pay off all or part of their debts. Here's how the bankruptcy process works.

Cryptocurrency has become increasingly popular over the years. It has experienced many technological advances and had many ups and downs. During its peak, many people were investing in Bitcoin, Ethereum, and other altcoins. Although cryptocurrency had an initial purpose, the current market does not reflect its intentions, which is why some believe its real value was never $3 trillion.

On Wednesday, July 13, 2022, crypto bank Celsius filed for Chapter 11 bankruptcy. The digital asset firm mentioned extreme market conditions led to a surge in customer withdrawals, ultimately hurting their operations.