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Celsius Network to Return Only 22% of Customer Funds

1 min
Updated by Ryan Boltman
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In Brief

  • Celsius Network has agreed to give back a small portion of custodial funds to its users.
  • The bankrupt crypto platform currently holds approximately $200 million in user funds.
  • No further funds have been announced for release at this time.
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Celsius Network has announced that it will be returning roughly $48 million back to customers in a recent court filing.

The recent court filing indicates that Celsius Network LLC. will agree to return $48 million, or 22% of its current assets being held, back to customers of the now bankrupt platform.

This is a developing story

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Ryan Boltman
Ryan Boltman is a managing editor at BeInCrypto, specializing in the crypto markets with a strong focus on technical and on-chain analysis across a broad spectrum of digital assets. His areas of expertise include Layer-1 and Layer-2 solutions, artificial intelligence (AI), real-world assets (RWA), decentralized finance (DeFi), decentralized physical infrastructure networks (DePIN), meme coins, and altcoins. Before his current role, Ryan contributed to Blockchain.com as a customer success...
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