Follow Celsius news, including bankruptcy proceedings, creditor updates, legal rulings, restructuring efforts, and fallout across crypto markets.
Terra, Celsius are facing series of class action lawsuit filed against them by disgruntled investors who lost funds to their collapse.
Oluwapelumi Adejumo 2 min read 
In a now deleted stated, Zipmex said its exposure to Babel Finance was $48 million while that to Celsius Network was $5 million.
Timothy Cradle said Celsius' company culture disregarded compliance, leading to risky and unethical plays including CEL manipulation.
At the first bankruptcy hearing for Celsius, the platform's lawyers claimed retail users gave up legal rights to their crypto by accepting the terms of service.
The lack of legal precedent, on-going lawsuits, and the complexities of a Chapter 11 bankruptcy mean Celsius users may face a long process to recover deposits.
Pharos, listed as Celsius's biggest creditor with an $81 million claim, is an opaque company with close ties to Alameda Research.
Celsius has maintained a positive tone despite filing a Chapter 11 bankruptcy claim on July 13.
Celsius has officially filed for Chapter 11 Bankruptcy after it pays off its DeFi loans on Aave, Compound, and Maker.
Amid its ongoing liquidity crisis, Celsius has paid off its debt to Compound of over $50 million, reclaiming 10,000 WBTC.
