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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.
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."
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Read more: Celsius Network's Alex Mashinsky Is Arrested as SEC, CFTC, FTC Sue Bankrupt Crypto Lender
Nick Baker
Nick Baker was 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.
