One Celsius client said his situation was a dire emergency in order to “keep a roof over my family and food on their table.”
asking to get their crypto assets back in a quicker manner than the traditional Chapter 11 bankruptcy creditors’ process. One customer, a single mother of two daughters, said that her family’s life was impacted a great deal.
“I and my family are severely impacted both in financial and mental health by the bankruptcy and locked up cryptos. I always check the app if my cryptos are still there. I can’t focus on my job or sleep,” the woman wrote in her letter to the bankruptcy court. Before Celsius went bankrupt, Celsiusthat it had roughly 1.7 million customers. Another Celsius customer said that he had less than $1K in his Wells Fargo bank account, and the crypto lender’s bankruptcy hurt him a great deal financially.
The customer and many other clients who wrote letters to the bankruptcy court want the authorities to release the funds and disperse the crypto among retail clients. Besides the bankruptcy and the customer’s letters, the crypto lender also facesWhile the customer letters pleaded with the court to release funds, some Celsius investors noted that while the crypto lender itself was unreliable, they still trusted the crypto ecosystem.
Most of them are probably aware that waiting for creditor distribution from a bankruptcy case can be long and cumbersome, and oftentimes can be unfruitful. Furthermore, creditors also have to prove themselves with a document called a “proof of claim.” Celsius has
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