INSUBCONTINENT EXCLUSIVE:
Former Celsius CEO Alex Mashinsky has agreed not to claim any assets from the Celsius bankruptcy proceeds.In a motion filed on Monday, the
United States Bankruptcy Court for the Southern District of New York stated that an agreement has been reached between Celsius debtors and
the latter parties.Source: StrettoThe agreement stipulates that Celsius debtors can distribute funds tied up due to claims made by Mashinsky
and the three related entities.Further, the court retained jurisdiction over all matters relating to this case; however, the court will not
his military service and pleading guilty in December as grounds for a more lenient sentence.Prior to his sentencing, the US Department of
However, as many as 121,000 creditors did not stake their claims due to the amounts being less than $1,000, with the vast majority losing
which included retail borrowers, retail depositors and users of its Earn program.In July 2023, Celsius reached two settlements to exit
Chapter 11 bankruptcy proceedings, which were initiated in July 2022.Chapter 11 bankruptcy is a legal process in the US that allows
businesses to restructure without having to face immediate repercussions from creditors.Magazine: Older investors are risking everything for
a crypto-funded retirement
