Seeking Alpha
2023-02-01 14:41:31

Unsuccessful crypto lender Celsius lists users allowed to withdraw digital assets

Celsius ( CEL-USD ), the cryptocurrency lender the filed for Chapter 11 protection in last summer, named a long list of users eligible to withdraw most of their digital assets currently stuck in the platform, according to a recent bankruptcy filing. The company has received court permission to reimburse 94% of each users' assets. The remaining 6% will be determined at some point in the future by the court. Before any withdrawals get processed, eligible users must have enough assets on the lending platform to cover withdrawal fees, in addition to updating certain customer information in connection with Anti-Money Laundering and Know Your Customer information, the 1,400-page document said. Eligible users are slated to receive an email on or around Feb. 15 regarding the steps they must take before a withdrawal is processed. Last month, (Jan. 5) a judge ruled that Celsius owns most of its customer deposits .

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