The crypto custodian Prime Trust has agreed to return $17 million in tokens to the Celsius Network lending platform, which is undergoing restructuring. CoinDesk reports.
Assets will be sent to a separate Celsius wallet while awaiting court decision on distribution.
23 августа платформа подала иск против Prime Trust с требованием отдать ~$17 млн, который кастодиан якобы не вернул.
The filing states that partners terminated the agreement in June 2021, but the defendant refused to transfer 398 BTC, 196,268 CEL, 3,740 ETH and $2.2 million. On October 20, the crypto custodian agreed to the demand.
In June, Celsius Network paused withdrawals, exchanges and transfers between accounts. A month later, on July 14, the platform and some of its subsidiaries filed for bankruptcy.
In the same month, the company unveiled a plan to reorganize the business, focused on the mining subsidiary.
According to the latest estimate, the hole in Celsius Network’s balance sheet stood at $2.85 billion.
In September, Celsius Network CEO Alex Mashinsky presented a plan to rescue the company from bankruptcy, according to media reports. He later left his position.
Earlier ForkLog reported that Celsius Network is considering issuing wrapped tokens as part of the restructuring plan.
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