Cryptocurrency in Celsius’ Earn Accounts belongs to bankruptcy estate, not depositors who placed it there, according to January 4 opinion from Judge Martin Glenn of U.S. Bankruptcy Court in the SDNY. Decision is blow to individual customers who deposited crypto assets there.
Whose crypto is it? With multiple cryptocurrency companies that have recently filed for bankruptcy, FTX, Voyager Digital, BlockFi, and more coming, that simple sounding question is taking on huge significance. Celsius Network bankruptcy case addresses question.
Cryptocurrency in Celsius’ Earn Accounts belongs to the bankruptcy estate, and not to the depositors who placed it there, according to a January 4 memorandum opinion from Judge Martin.