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Embattled crypto lender Celsius resumes withdrawals for certain custody accounts

  • Celsius Network (CEL-USD), the cryptocurrency lender that imploded last July, is enabling asset withdrawals for certain custody accounts, it said in a recent Twitter post.
  • The company listed users last month who are eligible to withdraw most of their digital assets currently stuck in the platform, while noting it received court permission to reimburse 94% of each users’ assets.
  • “Eligible Users are being notified of the steps needed to facilitate their withdrawals,” Celsius, which initially paused withdrawals in June 2022 amid extreme market conditions at the time, said in the tweet.
  • In mid-February, Celsius proposed the sale of its trading platform to investment manager NovaWulf Digital Management to allow its creditors to gain immediate access to liquidity.

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