Judge Martin Glenn, who is presiding over the Celsius bankruptcy case, ruled on Jan. 4 that the funds in the Celsius interest-bearing Earn program belong to Celsius under the terms of the program’s terms of use. The funds reportedly amount to more than $4 billion.
“The issue of ownership of the assets in the Earn Accounts is a contract law issue,” the U.S. bankruptcy judge wrote, citing the latest version of the Earn program’s terms of use. Those terms state that lending platform Celsius held “all right and title to such Eligible Digital Assets, including ownership rights.”