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Celsius Reorganization Not Affected by $4.7B Settlement With U.S., Bankrupt Crypto Lender Says
That includes customer recoveries, the company said Thursday.
by Nick Baker
Updated Jul 13, 2023, 9:44 p.m. Published Jul 13, 2023, 9:40 p.m.
Bankrupt crypto lender Celsius Network said its $4.7 billion settlement with the U.S. over fraud allegations won't affect its reorganization or the amount it recovers for customers.
The company "continues to pursue a successful Chapter 11 Plan," Celsius said in a statement attached to a Thursday court filing. "Celsius' Special Committee and senior leadership remain committed to ongoing cooperation with regulators and government bodies as the Company remains focused on maximizing value for stakeholders."
Read more: Celsius Network's Alex Mashinsky Is Arrested as SEC, CFTC, FTC Sue Bankrupt Crypto Lender
Nick Baker
Nick Baker is CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
