United States-based crypto lending platform Celsius, which collapsed and stopped the withdrawal option amid the market meltdown in June, pledged its readiness to partially return money to customers. However, there’s a catch — as the company has filed a motion with the United States Bankruptcy Court, its pledge would only apply to Custody and Withold Accounts and for custody assets worth $7,575 or less in value.
The community response to the motion has been mixed, with some creditors happy to get back at least some of the frozen funds, while some industry leaders criticized the platform’s management. BnkToTheFuture.com CEO Simon Dixon drew attention to the fact that the possible release of $50 million wouldn’t be that impressive, given the $210 million in assets Celsius still has in custody. According to the company’s filing, though, the motion is merely a “first step forward, and not the last word on, efforts to return assets to customers.”
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