Follow Celsius news, including bankruptcy proceedings, creditor updates, legal rulings, restructuring efforts, and fallout across crypto markets.
The firm has filed a petition to allow eligible customers to withdraw assets from its custody program and Withhold accounts.
Monika Ghosh 3 min read 
The creditors are basing their claim on the fact that their funds were held in Celsius' custodial account and not the Earn program.
Celsius hits back at Jason Stone claiming he used client funds to buy CryptoPunks while losing 30,000 ETH in a bad DeFi trade.
Alex Mashinsky allegedly ordered the trading team to sell hundreds of millions of dollars worth of Bitcoin, causing Celsius a $50 million loss.
A Ripple spokesperson reportedly said the firm was interested in looking for M&A opportunities to scale its business.
Celsius CEO Alex Mashinsky is accused of promoting false information about the safety of users' funds at the brink of the bankruptcy.
Celsius withdrew its motion to hire former CFO Rod Bolger as a consultant after hundreds of disgruntled investors wrote letters to the court.
Bolger had worked with the embattled lender for five months before resigning on June 30. Less than a month after his resignation, the firm filed for bankruptcy.
Celsius is facing legal action from a group of 400 customers that owns about 4% of the total assets locked in the Celsius network — equating to $180 million.
