Celsius custody account holders can receive 72.5% of their crypto, says bankruptcy judge

United States Bankruptcy Judge Martin Glenn signed off on an agreement allowing Celsius custody account holders the right to receive 72.5% of their crypto back.

Highlights

• U.S.
• Bankruptcy Judge Martin Glenn approves plan allowing custody account holders to get back 72.5% of their crypto holdings.
• Under agreement, claimants cannot “pursue any litigation, including seeking relief from the automatic stay, turnover, or other claims or causes of action” Under the agreement, digital assets not part of the settlement will be controlled by the Celsius debtors.
• A December ruling ordered roughly $44 million in crypto to be returned to Celsius customers, and a February decision from the judge authorized the debtors to sell $7.4 million worth of Bitmain coupons if needed.
• The lending platform filed for Chapter 11 in July.

---

Read the original article