{"id":68898,"date":"2022-10-21T09:59:00","date_gmt":"2022-10-21T06:59:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68898"},"modified":"2025-09-07T16:50:09","modified_gmt":"2025-09-07T13:50:09","slug":"crypto-custodian-prime-trust-to-return-17-million-in-tokens-to-celsius-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-custodian-prime-trust-to-return-17-million-in-tokens-to-celsius-network\/","title":{"rendered":"Crypto Custodian Prime Trust to Return $17 Million in Tokens to Celsius Network"},"content":{"rendered":"

The crypto custodian Prime Trust has agreed to return $17 million in tokens to the Celsius Network lending platform, which is undergoing restructuring. CoinDesk<\/a> reports.<\/p>\n

Assets will be sent to a separate Celsius wallet while awaiting court decision on distribution.<\/p>\n

23 \u0430\u0432\u0433\u0443\u0441\u0442\u0430 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u0430 \u043f\u043e\u0434\u0430\u043b\u0430 \u0438\u0441\u043a<\/a> \u043f\u0440\u043e\u0442\u0438\u0432 Prime Trust \u0441 \u0442\u0440\u0435\u0431\u043e\u0432\u0430\u043d\u0438\u0435\u043c \u043e\u0442\u0434\u0430\u0442\u044c ~$17 \u043c\u043b\u043d, \u043a\u043e\u0442\u043e\u0440\u044b\u0439 \u043a\u0430\u0441\u0442\u043e\u0434\u0438\u0430\u043d \u044f\u043a\u043e\u0431\u044b \u043d\u0435 \u0432\u0435\u0440\u043d\u0443\u043b.<\/p>\n

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.<\/p>\n

In June, Celsius Network paused withdrawals, exchanges and transfers<\/a> between accounts. A month later, on July 14, the platform and some of its subsidiaries filed for bankruptcy<\/a>.<\/p>\n

In the same month, the company unveiled a plan to reorganize the business<\/a>, focused on the mining subsidiary.<\/p>\n

According to the latest estimate, the hole in Celsius Network’s balance sheet stood at $2.85 billion<\/a>.<\/p>\n

In September, Celsius Network CEO Alex Mashinsky presented a plan to rescue the company from bankruptcy<\/a>, according to media reports. He later left his position<\/a>.<\/p>\n

Earlier ForkLog reported that Celsius Network is considering<\/a> issuing wrapped tokens as part of the restructuring plan.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram \u2014 cryptocurrency news, rates and analytics. Telegram<\/a> \u2014 \u043d\u043e\u0432\u043e\u0441\u0442\u0438 \u043a\u0440\u0438\u043f\u0442\u043e\u0432\u0430\u043b\u044e\u0442, \u043a\u0443\u0440\u0441\u044b \u0438 \u0430\u043d\u0430\u043b\u0438\u0442\u0438\u043a\u0430.<\/p>\n","protected":false},"excerpt":{"rendered":"

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.<\/p>\n","protected":false},"author":1,"featured_media":68899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1162,2226],"class_list":["post-68898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-court-cases","tag-prime-trust"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=68898"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68898\/revisions"}],"predecessor-version":[{"id":68900,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/68898\/revisions\/68900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/68899"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=68898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=68898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=68898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}