The Celsius team promises to return the money to the owners of casteic accounts – Bits Media

Banking Selsius Network, as part of a program to return assets to customers, intends to unlock and return the funds of some users through the court, stored cryptocurrencies on the platform .

The cryptocreator applied to the court of the Southern District of New York on the transfer of assets owners of funds, placed on wallets only for long -term storage. For this, Celsius will release assets for the amount $50 million, To unlock around $50 Milln of more than $225 million, stored on user wallets.

The defrosted money will be held only by this group of customers of the site, rest, Whose assets are stored on deposits with annual cryptocurrency earnings or supporting lending mechanism, Including Earn and Borrow accounts, Until they can return the money. The lawyers of the company clarified: Clients, which transferred their assets from other Celsius accounts, such as Earn and Borrow ("Earn and credit"), In the storage program for 90 Days before submitting an application for bankruptcy of the company, they will not be able to get their assets either.

If the petition is approved, Assets will only be limited to those users, who kept cryptocurrencies on castodial wallets more 90 days from the moment of bankruptcy Celsius. To divide the owners of accounts, who can return their money, and who cannot yet claim assets, The debate affected, What digital assets belong to customers, and which are part of the company's property in the bankruptcy procedure. The company recognized in its statement, that most customers, most likely, will not support a new agreement:

“The petition is the first, but not the last step to return assets to customers in those cases, When possible. At the same time, without jeopardizing the efforts of debtors to maximize the value and the most fair distribution of this value among all customers ".

Recently, a team of lawyers Celsius said, that when customers deposited assets on the platform, then transferred ownership to their cryptocurrencies to the company. In other words, almost 80% Capital users on the platform belong to Celsius, Since most of the assets are stored on Earn and Borrow accounts.