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Celsius Founders Can't Shed FTC Crypto Fraud Claims

By Emily Lever · December 14, 2023, 3:26 PM EST

A New York federal judge refused to dismiss the Federal Trade Commission's suit claiming the co-founders of the now-bankrupt crypto lender Celsius misrepresented its business practices prior to its bankruptcy in...

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Bankruptcy Scorecard

Summary

Cryptocurrency lending platform Celsius Network LLC filed for Chapter 11 bankruptcy in July, 2022 amid a marketwide downturn known as "crypto winter." In November, it received approval a bankruptcy plan allowing customers to receive crypto asset distributions.

Case Number

1:22-bk-10964

Judge

Martin Glenn

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$5.5 billion

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Documents

Related Sections

Case Information

Case Title

Federal Trade Commission v. Celsius Network Inc. et al

Case Number

1:23-cv-06009

Court

New York Southern

Nature of Suit

Other Statutory Actions

Date Filed

July 13, 2023

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