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  4. Celsius bankruptcy judge orders return of some crypto assets to customers
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Celsius bankruptcy judge orders return of some crypto assets to customers

By Dietrich Knauth (Reuters) - A U.S. bankruptcy judge on Wednesday ruled that some customers of crypto lender Celsius Network should receive their deposits back, giving relief to...
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Celsius bankruptcy judge orders return of some crypto assets to customers © Reuters.

By Dietrich Knauth

(Reuters) - A U.S. bankruptcy judge on Wednesday ruled that some customers of crypto lender Celsius Network should receive their deposits back, giving relief to a relatively small group of customers whose deposits were never commingled with other Celsius funds.

U.S. Bankruptcy Judge Martin Glenn is weighing broader questions of who owns crypto assets that were deposited with Celsius.

His ruling Wednesday was limited to customers who had non-interest bearing custody accounts, whose funds were not commingled with other Celsius assets, and whose accounts were too small for Celsius to seek to claw them back to repay other customers, according to Celsius' official creditors committee.

The creditors committee previously estimated that amount at stake for custody account holders was $50 million.

Judge Glenn has not yet ruled on ownership of Celsius "earn" accounts or "withhold" accounts.

Earn accounts, which paid interest to customers and allowed Celsius to use customer funds to make loans were the default account type at Celsius before regulatory investigations forced it to change course early in 2022.

Those regulatory investigations, which alleged that earn accounts were an unregistered securities offering, caused Celsius to create non-interest bearing custody accounts and withhold accounts.

New Jersey-based Celsius froze withdrawals in June, citing "extreme" market conditions, cutting off access to savings for individual investors. When it filed for Chapter 11 bankruptcy in July, Celsius reported $4.3 billion in assets and $5.5 billion in liabilities, primarily owed to its customers.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

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Sell (5)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

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GBP/USD

1.2624

+0.0002 (+0.02%)

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Sell

Moving Avg:

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Sell (6)

USD/JPY

151.38

0.01 (0.00%)

Summary

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Moving Avg:

Buy (12)

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AUD/USD

0.6522

+0.0007 (+0.11%)

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USD/CAD

1.3543

+0.0006 (+0.04%)

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EUR/JPY

163.37

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EUR/CHF

0.9738

+0.0010 (+0.10%)

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2,254.80

42.10 (1.90%)

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+5.86 (+0.11%)

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0.00 (0.00%)

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Neutral

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2,120.15

+5.80 (+0.27%)

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11,074.60

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
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Cập nhật 31-03-2024 10:19:52
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$2,232.75-1.61-0.07%
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Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
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Brent$86.82+5.180.06%
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Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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