Some users of bankrupt crypto lender Celsius Network’s Custody program will be able to withdraw 94% of their eligible assets, according to a court filing.
(Bloomberg) — Some users of bankrupt crypto lender Celsius Network’s Custody program will be able to withdraw 94% of their eligible assets, according to a court filing.
The fate of the remaining 6% will be decided by the court at a later date, Kirkland & Ellis LLP said on behalf of Celsius in the filing Tuesday.
The more than 1,400-page document listed the names of eligible customers. Celsius said on Twitter that users need sufficient assets in their accounts to satisfy withdrawal fees.
Celsius filed for bankruptcy in July after a sharp decline in crypto prices caused risky bets to backfire. The firm is one of a number of digital-asset lenders that hit the buffers in last year’s market rout.
A court-appointed examiner this week blasted Celsius and its former Chief Executive Officer Alex Mashinsky for lacking adequate risk management and misleading customers about its business practices and financial health.
The company is the target of investigations by US state and federal regulators.
For crypto market prices: CRYP; for top crypto news: TOP CRYPTO.
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