Check: Celsius releases list of users eligible for withdrawals

Tether CTO debunks alleged $2 Billion loan from bankrupt crypto lender Celsius

TL;DR Breakdown

  • Celsius releases withdrawal update
  • The firm lists requirements for withdrawal
  • Court examiner reveals dealings with FTX

Celsius has released an updated list of users eligible for withdrawals following the suspension of withdrawals in 2022. The crypto lending platform announced that it had gone bankrupt in June, thereby pausing withdrawals of funds on the platform. The recently released list consists of several users who could withdraw about 94% of the funds in their accounts.

Celsius lists requirements to withdraw funds

In the detailed document filed at the court, Celsius made a list that must be followed before traders can claim their assets. In addition, Celsius also included the identity and the exact funds in each user’s account. The document mentioned that traders must update their accounts by providing some information before they can withdraw their assets.

Some information includes user details to help the company stay safe with the AML and KYC regulations. Other information consists of the wallet address of the receiving account, among others. The filing states clearly that if a user refuses to complete all the steps, such a user would not be able to claim their funds from the platform.

Court examiner reveals dealings with FTX

The detailed filing also clarified that users could withdraw only 94% of their assets but needed to state if they could take the remaining funds from their accounts. Users listed in the document will also be sent other withdrawal details, such as transaction fees and the like, before they can withdraw their funds. If users do not have the specified fees to cover their gas fees, their withdrawal will not be granted.

This news is coming off the back of a court-chosen examiner’s submission of key details about the company. The examiner looked into several aspects of the platform’s dealings, including its business with FTX. The examiner clarified that Celsius tolled the path of FTX and Alameda in employing Quickbooks to track its financial records. The examiner also revealed that the company refused to honor its agreement with traders. One such instance is the Celsius token amid other businesses they failed to honor.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

Related News

Hot Stories

Elizabeth Warren builds her re-election campaign on the back of crypto regulation
ChainLink price analysis: LINK obtains bearish momentum at $7.2
Bitcoin price analysis: BTC surges above $28,000 as bullish activity grows
Matt Damon breaks silence on controversial CryptoCom ad
Polkadot price analysis: DOT stumbles at $6.15 as bears take over

Follow Us

Industry News

Elizabeth Warren builds her re-election campaign on the back of crypto regulation
Matt Damon breaks silence on controversial CryptoCom ad
Sam Bankman-Fried to plead not guilty to campaign financing and bribery charges
Japan launches expert panel to explore the feasibility of digital Yen
Industry leaders call for KYC measures to tackle "biggest issue" in DeFi

Add Your Heading Text Here