Celsius’ new offer to save from bankruptcy!

According to a WSJ report, the agreemes reached by Celsius could allow the digital currency lender to more easily obtain court approval for a bankruptcy discharge and repayme of customer assets.
In a joi settleme, Celsius Network and the unsecured creditors’ committee announced that they have agreed to settle the committee’s class-action fraud claim against Celsius with an award to accou holders of assets they receive in the company’s Chapter 11 plan. They claimed that this would lead to cost savings and speed up the return of digital currencies to customers.
According to the agreeme, a settleme plan filed by Celsius and a committee of unsecured creditors on Thursday, more than $70 billion in fraud and other claims against Celsius are currely pending and not related to obligations under customer coracts.
Any accou holder can choose not to participate in the settleme and still seek to prove their claims against debtors, the stateme said. Accou holders known as “Custody” have not been included in the settleme due to their negotiation and agreeme with Celsius Company in March.
According to the committee’s attorney, Aaron Kolodny, according to an email se Friday, the settleme will reduce legal fees and reduce the amou of cryptocurrency Celsius needs for the disputed claims.
The bankrupt cryptocurrency exchange previously agreed to a $4.7 billion settleme with the Federal Trade Commission. Celsius’ former CEO, Alex Machinsky, was arrested last week on federal securities fraud charges.