Celsius: Company restructuring not affected by $4.7 billion settlement agreement

According to CoinDesk, the bankrupt cryptocurrency lending firm Celsius Network has stated that the $4.7 billion settlement it reached with the US Federal Trade Commission over fraud allegations will not affect its restructuring or the recovery of assets for clients. In a statement submitted to the court on Thursday, Celsius stated that the company “continues to pursue a successful Chapter 11 plan.” Celsius’ special committee and senior leadership remain committed to ongoing cooperation with regulatory and governmental agencies, and continue to focus on maximizing value for stakeholders.

Reference: https://www.coindesk.com/policy/2023/07/13/celsius-reorganization-not-affected-by-47b-settlement-with-us-bankrupt-crypto-lender-says/

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