Celsius Judge Will Decide Whether Lender Owns Customer Crypto
Published in
Dec 7, 2022
- A federal judge will decide whether Celsius owns customer cryptocurrencies.
- Celsius asked for permission to sell $18 million of crypto to cover operating expenses.
- Creditors claim unclarity in the terms of service which altered over time.
A pivotal legal issue will be decided in federal court regarding whether depositors at Celsius Network LLC relinquished ownership of their cryptocurrencies in return for interest payments. The effect of this decision will also be felt among other crypto bankruptcies.
