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Celsius has a Hail Mary bankruptcy plan: Turn its debt into a new cryptocurrency

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Since bankrupt crypto lender Celsius froze withdrawals in June, customers' funds have been in limbo. Now, leaked audio shared with CNBC reveals a preliminary plan to compensate them.

The company wants to issue an «IOU» cryptocurrency  to customers that signed up for some of its accounts. The recording was provided by Tiffany Fong, who says she is one of the 500,000 Celsius customers with funds locked in the platform.

Fong says she received the audio from a self-identified employee, who stayed anonymous during their communications. CNBC was not able to verify that the leaked audio is the entire exchange from an internal meeting on Sept.

1. However, CNBC spoke with former employees who verified that the recording is authentic. In the audio, Chief Technology Officer Guillermo Bodnar says the plan is in «early stages.» What's laid out may have changed in the weeks since the call.

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