CEL’s |30% spike aims to calm chaos but is a $50M appeal the antidote

seems engrossed in fixing its long-standing challenges after being declared insolvent. Yesterday , the company filed a motion to the bankruptcy court in New York’s Southern District to allow its customers to withdraw a part of their assets., Celsius noted that it had about $210 million worth of customers held in its Custodian and Withhold accounts. In addition, the firm pointed out that these assets were not part of the “earn interest” or “borrowed assets” that smoothened its path to bankruptcy.

The company also noted that they were the customers’ properties and did not form any part of its bankruptcy estates. The filing said, The Debtors did not intend to accept the Pure Withhold Assets in the first instance because the Debtors did not have a service to offer for those assets. The announcement of the motion on Twitter generated mixed reactions. While some saw the move as a means to resolve the problems, others called it deception on Celsius’ part. The most notable

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