Celsius authorized to return certain customer assets after court hearing Celsius authorized to return certain customer assets after court hearing
Court grants Celsius the authority to return "pure" and "transferred" assets, as well as digital assets not supported on the platform.
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Updated: Dec. 8, 2022 at 12:35 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Celsius discussed the reopening of withdrawals for certain customers during its latest hearing on Dec. 7.
At our hearing yesterday, we discussed the reopening of withdrawals for certain customers. We are approaching customer recovery in stages and we are encouraged by yesterday’s progress.
— Celsius (@CelsiusNetwork) December 8, 2022
The Court authorized the return of “pure” and “transferred” Custody Account assets below a specific legal threshold, as well as digital assets not supported on the platform.
Celsius said it will communicate directly with customers to share more information and will continue to collaborate with key stakeholders in the case and remains committed to treating all similarly situated customers fairly.
More details to follow…
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Posted In: Legal
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Josh O'Sullivan
Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.
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Celsius Network
Celsius Network is a bankrupt cryptocurrency lending company that was founded in 2017 and headquartered in Hoboken, New Jersey.