Bankruptcy judge orders $44M in crypto to be returned to Celsius customers

A federal judge has ordered crypto lender Celsius to return crypto worth around $44 million to the platform’s custody program customers. According to Bloomberg, the verbal order was delivered by United States Bankruptcy Judge Martin Glenn in a Dec. 7 hearing, with the judge noting: “I want this case to move forward. I want creditors […]

Judge orders probe to investigate whether Celsius was a Ponzi

The judge overseeing the Celsius bankruptcy case has ordered the examiner and the official committee of Celsius creditors to determine who will head a probe into whether the firm was operating like a Ponzi scheme. The order during the Nov. 1 hearing comes in response to allegations from customers that Celsius had used assets of […]

Celsius bankruptcy case Trustee slams $3M employee bonus motion

The U.S. Trustee overseeing the Celsius chapter 11 bankruptcy case, William Harrington, has objected to a Celsius motion that would see 62 of its 275 employees paid a retention bonus totaling $2.96 million. The Trustee has blasted Celsius in its supporting statement for the objection filed on Oct. 27, noting: “It defies logic, not to […]