Court Orders Celsius to Return $45M in Crypto Stored in Custody Accounts
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US bankruptcy court has ordered Celsius to return approximately $44 million worth of crypto back to clients, who stored their assets in custody accounts, Bloomberg reports.

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On Wednesday, US Judge, Martin Glenn, said he wants this case to "move forward" to recover creditors "as much as they possibly can as soon as they possibly can."

Bloomberg notes that before going bankrupt, Celsius transferred over $200 million in crypto from interest-bearing accounts into custody accounts so that the firm could claim ownership of that crypto due to the so-called preferential transfers.

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Glenn's order doesn't cover all the transferred cryptocurrencies, unless the transfers were for less than about $7,500. This means that only around $11 million of crypto from that sum might be returned to creditors.

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