Celsius customers lose control of the $4.2 billion they deposited in accounts at the bankrupt crypto lender

Jan 5 2023 by Business Insider

 
Celsius filed for bankruptcy in July, during a crypto selloff.

(Photo by Jakub Porzycki/NurPhoto via Getty Images)

Celsius customers don't own the $4.2 billion they deposited with the crypto lender, a court ruled.  Their digital funds held in interest-bearing accounts are the bankrupt firm's property, it found. Wednesday's ruling lets Celsius sell $18 million in stablecoins to fund a longer stay in Chapter 11.

Thousands of Celsius customers have lost their ownership of the billions of dollars...

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