• News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

After Eight Months After Bankruptcy, Celsius Network Enables Assets Withdrawal From Custody Accounts

3 March 2023
in Latest News, News
Reading Time: 3 mins read
103 5
After Eight Months After Bankruptcy, Celsius Network Enables Assets Withdrawal From Custody Accounts

Image source: cryptoslate.com

Bankrupt crypto lender, Celsius Network, announced yesterday that it had begun allowing withdrawals of client assets from its platform. This development is a significant step towards repaying its customers’ money. However, withdrawals are only permitted from certain custody accounts, and certain account owners are not permitted to request withdrawals.

According to Celsius, only users with assets in the custody account or who transferred from the Earn or Borrow program into the custody accounts 90 days before the company filed for Chapter 11 bankruptcy are eligible for withdrawal. Customers who meet these criteria have been notified via email by the company. 

Certain custody account owners, however, cannot request withdrawals, including current and former company employees, customers with an active loan as of December 20, 2022, and users whose digital assets are less than the transaction fee required for withdrawal.

Celsius also stated that accounts would not be closed during this period, and there is no deadline for withdrawals. However, only 94% of the funds in eligible accounts can be withdrawn at the moment. Some of the firm’s followers on Twitter have reported being able to withdraw some of their money, while others are still having some difficulty doing so.

Celsius Network filed for Chapter 11 bankruptcy in July 2022 due to unstable market conditions. Since then, the company has been working towards refunding its customers. 

Celsius Network was acquired by NovaWulf Digital Management, an investment firm, on February 15, 2023. NovaWulf’s plan for the bankrupt crypto lender is to invest millions of dollars and maximize remaining assets in order to end the Chapter 11 bankruptcy, repay customers’ money, and rebrand as a new company.

The process has already started with the withdrawal of assets from custodial accounts. Celsius customers can now access their funds, which is welcome news and a ray of hope for Celsius’s future under NovaWulf’s ownership.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share63Tweet39Share11
Previous Post

Binance Announces the Completion of TROY’s BEP20 Integration

Next Post

Australian Treasury Unveils Possible Schedule for Cryptocurrency Regulation in Australia

Mopelola Ibitola

Mopelola Ibitola

Related Posts

Binance Partners With Gulf Energy to Obtain Regulatory Green Light for Thai Cryptocurrency Exchange
Latest News

Binance Partners With Gulf Energy to Obtain Regulatory Green Light for Thai Cryptocurrency Exchange

26 May 2023

Gulf Binance, a collaborative project between Binance and Gulf Innova, the innovation arm of Gulf Energy, has received regulatory approval from the Ministry of Finance in Thailand to operate as a digital asset provider.  This regulatory approval enables Gulf...

European Regulator Calls for Transparency on Regulatory Status of Investment Products, Including Crypto Assets
Latest News

European Regulator Calls for Transparency on Regulatory Status of Investment Products, Including Crypto Assets

26 May 2023

The European Securities and Markets Authority (ESMA) has issued a statement emphasizing the need for investment firms to inform their clients about the regulatory status of the products they offer. The European Union's financial regulatory body specifically addressed the...

OpenAI's New Initiative Seeks Public Input for Ethical Development of Artificial Intelligence
Latest News

OpenAI’s New Initiative Seeks Public Input for Ethical Development of Artificial Intelligence

26 May 2023

ChatGPT's parent company, OpenAI, has launched an initiative to promote democratic participation in the development of artificial intelligence (AI).  In an official statement released on May 25, 2023, OpenAI unveiled its plan to award ten $100,000 prizes to experiments...

Zhengzhou Introduces Legislative Proposals and $1.42 Billion Fund to Support Metaverse Businesses and Foster Industry Growth
Latest News

Zhengzhou Introduces Legislative Proposals and $1.42 Billion Fund to Support Metaverse Businesses and Foster Industry Growth

26 May 2023

Zhengzhou, the capital of China's Henan Province, has introduced a series of legislative proposals designed to support local metaverse businesses and seek to foster industry growth. These initiatives, announced on May 24, 2023, involve the creation of a special...

Swap Crypto

Markets Update

DOGE Hits $10B Market Cap; Community Criticizes New Twitter CEO Appointment

1 week ago

NFT Market in Q1 2023: A Tale of Strong Starts, Mixed Performances, and Shifting Market Dynamics

2 weeks ago

Pepe Coin Makes Impressive Market Debut, Surpasses Shiba Inu and Dogecoin in Market Capitalization

3 weeks ago

Litecoin (LTC) Retraces After Hitting $100: Can LTC Halving Lead to New ATH?

4 weeks ago

Bitcoin Shows Potential to Reach $30,000 Amid Volatile Market Conditions

4 weeks ago

XRP Fluctuates As Ripple-SEC Case Nears Conclusion and Regulatory Pressures Mount

1 month ago
Read More

Spotlight

All about SolChicks

All about Algorand

All about Bitcoin

All about Goracle

Press Releases

BitMEX Introduces a New PnL Realisation Feature for More Capital-Efficient Cross-Margining

BitMEX Introduces a New PnL Realization Feature

byGuest Author
13 April 2023
0

...

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities, Aims to Adapt Swiftly in an Evolving Landscape

BitMEX Joins TRUST Protocol to Expand Travel Rule Compliance Capabilities

byGuest Author
13 April 2023
0

...

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

Vybe Launches Bntyhntr: A Digitalized Treasure Hunt Product on the Algorand Chain

byGuest Author
25 January 2023
0

...

BetDEX-Exchange-to-Launch-on-Solana-Mainnet-Ahead-of-2022-FIFA-World-Cup.jpg

BetDEX Exchange to Launch on Solana Mainnet Ahead of 2022 FIFA World Cup

byGuest Author
8 November 2022
0

...

BetDEX-Exchange-Becomes-First-Fully-Licensed-Sports-Betting-Exchange-on-Blockchain.jpg

BetDEX Exchange Becomes First Fully-Licensed Sports Betting Exchange on Blockchain

byGuest Author
1 November 2022
0

...

Read More
  • About Us
  • The Team
  • Careers
  • Contact
  • Partnerships

© Copyright 2023 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

No Result
View All Result
  • News
    • Latest News
    • Press Releases
  • Markets
  • Articles
    • Opinion
    • Explainers
    • Guest Posts
    • Sponsored Posts
  • Policy
  • Videos
  • Podcasts
  • Learn
    • DeFi Basics
    • Blockchain Fundamentals
    • Tutorials
    • Reviews
  • Research
    • Case Studies
  • Explore
    • NFTs
    • DAOs
    • Crypto Gaming
    • Metaverses
    • Web3
    • Stablecoins
    • CBDCs
    • DeFi
  • Markets Pro
    • Swap Crypto
    • DeFi Planet Pro
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$28,112.004.92%
    BITCOIN
    24H : 4.92%
    Volume : $10,472,340,145.00
    Marketcap : $544,994,719,910.00
  • ethereumEthereum(ETH)$1,912.144.55%
    ETHEREUM
    24H : 4.55%
    Volume : $6,144,886,615.00
    Marketcap : $229,839,532,862.00
  • tetherTether(USDT)$1.000.0100%
    TETHER
    24H : 0.0100%
    Volume : $15,651,248,772.00
    Marketcap : $83,173,917,859.00
  • binancecoinBNB(BNB)$314.022.44%
    BNB
    24H : 2.44%
    Volume : $496,789,321.00
    Marketcap : $49,521,044,495.00
  • usd-coinUSD Coin(USDC)$1.0000.060%
    USD COIN
    24H : 0.060%
    Volume : $1,731,479,299.00
    Marketcap : $29,086,628,516.00
  • rippleXRP(XRP)$0.4873.17%
    XRP
    24H : 3.17%
    Volume : $676,192,492.00
    Marketcap : $25,291,715,482.00
  • cardanoCardano(ADA)$0.3834.49%
    CARDANO
    24H : 4.49%
    Volume : $229,845,625.00
    Marketcap : $13,401,310,404.00
  • staked-etherLido Staked Ether(STETH)$1,911.864.82%
    LIDO STAKED ETHER
    24H : 4.82%
    Volume : $15,214,192.00
    Marketcap : $12,997,632,774.00
  • dogecoinDogecoin(DOGE)$0.0742.46%
    DOGECOIN
    24H : 2.46%
    Volume : $248,202,420.00
    Marketcap : $10,309,245,554.00
  • matic-networkPolygon(MATIC)$0.9523.48%
    POLYGON
    24H : 3.48%
    Volume : $207,442,868.00
    Marketcap : $8,819,087,511.00

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00