Portfolio Bankruptcy Court Orders Celcius to return $50M of Crypto
Author: Qadir AK Dec 8, 2022 17:23
Qadir AK 
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
The order delivered by the Bankruptcy judge of the Southern District of New York directed Celsius, the crypto lender, to return the cryptocurrency worth $50M to Custody Account Holders. According to the Celcius filing in September, it has about 58,300 users who collectively deposited over $210 million with its custody and withhold, with 15,680 customers holding “Pure Custody Assets” worth around $44 million. The matter was taken to a hearing by the Bankruptcy Court of the southern district of New York on October 6. It applies to an amount of crypto that was worth about $44 million in September.
