What Are The Cold, Hard Facts On Cryotherapy?

Does whole body cryotherapy (WBC), which essentially involves standing in a deep-freezing tank for several minutes, actually help you lose weight, reduce pain, improve athletic performance, improve sleep, and slow aging as has been claimed? Or is WBC just another "cool" fad with claims that will eventually be refuted by scientific studies and potentially serious risks? Or is the answer somewhere in between? Some high profile athletes and celebrities have touted WBC's benefits but the recent death of a 24-year old woman during a cryotherapy treatment has brought some increased scrutiny on a practice that has been growing in use worldwide.