On the other hand approving the 2.6m for bonuses and “retention” for staff who don’t work is ludicrous
If judge Glen does not recognize assets of crypto belonging to creditors and depositors it will be devastating to continue to let those rats eat funds
They are paying lawyers and had 6+ months to come up with a plan - yet they “intend” to
No one will trust Celsius again. Return those funds
Just to summarize to help ease anyone freaking out, the judge ordered the funds that werent sitting in the “earn” section (with a few other conditions) returned. The judge hasn’t yet made a determination on what will happen with the rest of the funds.
Looks like Celsius got a little too hot and had to cool down with a $50M refund for its users. I guess you could say they were feeling the heat from regulators... ba dum tss!
tldr; A bankruptcy judge has ordered Celsius Network to return cryptocurrency in custody accounts to customers. The coins, which were worth $44 million in September, were moved from interest-bearing accounts to custody accounts shortly before the firm’s bankruptcy filing. "I want this case to move forward. I want creditors to recover as much as they possibly can as soon as possible," the judge said.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I did have ETH staked in Celsius at the time it went belly up, anything back from these guys would be welcome.
Sorry for your loss friend, Here's hoping you get alot more than you expect 🤞
Sure thing man, my expectations are very low, zero in fact. So anything above would be a blessing.
Sorry for your loss OP. I hope it was not much .. and lesson learned
I haven’t used Celsius but the one thing I will take away from this mess forever is that I need to move my crypto off of exchanges.
So around 5 cents for every dollar?
On the other hand approving the 2.6m for bonuses and “retention” for staff who don’t work is ludicrous If judge Glen does not recognize assets of crypto belonging to creditors and depositors it will be devastating to continue to let those rats eat funds They are paying lawyers and had 6+ months to come up with a plan - yet they “intend” to No one will trust Celsius again. Return those funds
And because of this, everything goes on my ledger for the rest of my life. No APY or APR will ever seen worth it to me again
You can stake in your ledger btw!
Surely more than 50 million was lost though. Where's the accountability?
Win for the little guy. If they ever see it.
Its a start
Just to summarize to help ease anyone freaking out, the judge ordered the funds that werent sitting in the “earn” section (with a few other conditions) returned. The judge hasn’t yet made a determination on what will happen with the rest of the funds.
Looks like Celsius got a little too hot and had to cool down with a $50M refund for its users. I guess you could say they were feeling the heat from regulators... ba dum tss!
tldr; A bankruptcy judge has ordered Celsius Network to return cryptocurrency in custody accounts to customers. The coins, which were worth $44 million in September, were moved from interest-bearing accounts to custody accounts shortly before the firm’s bankruptcy filing. "I want this case to move forward. I want creditors to recover as much as they possibly can as soon as possible," the judge said. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Good bot.
So I’ll get 20% of my money back? 🤷‍♂️
20% of *my* money it seems
Okay than. I'll be taking those $50M.