Celsius Reorganization Not Affected by $4.7B Settlement With U.S., Bankrupt Crypto Lender Says

That includes customer recoveries, the company said Thursday.

AccessTimeIconJul 13, 2023 at 9:40 p.m. UTC
Updated Jul 13, 2023 at 9:44 p.m. UTC

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."


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Nick Baker

Nick Baker is CoinDesk’s deputy editor-in-chief and a Loeb Award winner. His crypto holdings are below CoinDesk's $1,000 disclosure threshold.

Read more about