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The bankruptcy court’s decision follows its January 2025 decision which similarly held that the cryptocurrency of Celsius’ “Earn” customers also belonged to Celsius Celsius Network LLC won court approval of a deal to end a bankruptcy fight with preferred shareholders by paying $25 million to them, instead of risking an extended legal 23 de sept. de 2025 Celsius, a bankruptcy ridden digital asset lending company is dealing with legal trouble amid the crypto downturn. However, its shareholders have now filed a motion to Global law firm White & Case LLP has advised the Official Committee of Unsecured Creditors of Celsius Network, LLC (the Committee) on the successful Alex Mashinsky, the founder of Celsius, has been charged with seven counts of offenses, including securities fraud, wire fraud, and connections to multibillion-dollar 24 de sept. de 2025 The Thursday filing by Milbank LLC on behalf of several Celsius Network Series B shareholders held back no punches, claiming the entire bankruptcy process was “Our exit from bankruptcy is the culmination of an extraordinary team effort and extensive collaboration between Celsius, Hut 8, strategic partners, and our creditors

Celsius Bankruptcy: Shareholders Fight for Representation with Committee

The Celsius Network bankruptcy case continues to unfold, with shareholders now seeking greater representation in the proceedings. Following a tumultuous period marked by the crypto downturn and legal battles, including founder Alex Mashinsky facing charges like securities fraud and wire fraud, a pivotal development has emerged: a push to form a shareholder committee.

This move comes amidst ongoing complexities, particularly regarding the ownership of assets. The bankruptcy court\'s previous January 2025 decision asserted that cryptocurrency belonging to Celsius\' “Earn” customers was the property of Celsius itself. Now, shareholders are asserting their rights and seeking a voice in the restructuring process.

Adding another layer to the situation, Celsius Network LLC secured court approval for a deal to settle a dispute with preferred shareholders by offering them $25 million. This agreement aimed to avert a potentially lengthy legal battle. However, certain Series B shareholders, represented by Milbank LLC, filed motions asserting their concerns about the bankruptcy proceedings, even going back to 24 de sept. de 2025. They are arguing that the current process does not adequately protect their interests.

The formation of a shareholders committee would provide a formal platform for these concerns to be addressed. Global law firm White & Case LLP, having advised the Official Committee of Unsecured Creditors of Celsius Network, LLC, illustrates the existing advocacy for creditors, which is a testament to how complex the bankruptcy has been.

The resolution of the Celsius bankruptcy remains a critical event in the crypto space. With Celsius stating, “Our exit from bankruptcy is the culmination of an extraordinary team effort and extensive collaboration between Celsius, Hut 8, strategic partners, and our creditors," the formation of a shareholders committee could mark a significant step towards a more equitable outcome for all stakeholders in this high-profile case. Updates to the case will be monitored with anticipation. The filing was 23 de sept. de 2025.

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