{"id":4369,"date":"2023-05-06T08:10:48","date_gmt":"2023-05-06T12:10:48","guid":{"rendered":"http:\/\/leadingcryptonews.com\/eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval\/"},"modified":"2023-05-06T08:10:48","modified_gmt":"2023-05-06T12:10:48","slug":"eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval\/","title":{"rendered":"Eligible Celsius users can withdraw all &#8216;Distributable Custody Assets&#8217; following court approval"},"content":{"rendered":"<p> <br \/>\n<br \/><noscript><img decoding=\"async\" class=\"lazyload\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/89077e0f-c4b2-4224-902b-25186b4ba048.jpg\" \/><\/noscript><\/p>\n<div data-v-2ab31f4e=\"\">\n<p>Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals.<\/p>\n<p>In a May 4 announcement, Celsius said\u00a0eligible users would be able to withdraw the remaining 6% of distributable custody assets from the platform following court approval. Until January, the same users, largely those who only ever held funds in custody accounts, had been limited to withdrawing up to 94% of their funds.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Earlier this year, the Court approved the distribution of the remaining 6% of Eligible Users\u2019 Distributable Custody Assets (pure custody and transferred custody below $7,575 at the time of transfer) for a total of 100% of Eligible Users\u2019 Distributable Custody Assets.<\/p>\n<p>\u2014 Celsius (@CelsiusNetwork) May 4, 2023<\/p><\/blockquote>\n<p>The announcement marked progress in getting some Celsius customers reimbursed for missing funds for the first time since the company froze withdrawals in June 2022 before filin for bankruptcy in July. Many Celsius users reported a backlog of withdrawal attempts despite the funds supposedly being available, with some claiming requests had taken a matter of days to process.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I have funds in Custody but can\u2019t withdraw the 36% yet\u2026 anyone else having this issue?<\/p>\n<p>\u2014 \u00a9elsius x Voyager (@Celsius_Voyager) May 5, 2023<\/p><\/blockquote>\n<p><strong>Related: <\/strong><strong>Celsius publishes list of users eligible to withdraw majority of assets<\/strong><\/p>\n<p>According to court filings, Celsius was looking to combine its United Kingdom and United States entities, seemingly to have the two treated the same in bankruptcy proceedings. Celsius founder and former CEO Alex Mashinsky is also facing a lawsuit filed by the New York Attorney General\u2019s office in January. Mashinsky filed a motion to dismiss on May 2, claiming the AG\u2019s case \u201cparrots misinformation.\u201d<\/p>\n<p><strong>Magazine: <\/strong><strong>Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame<\/strong><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals. In a May 4 announcement, Celsius said\u00a0eligible users would be able to withdraw the remaining 6% of distributable custody assets from the platform following court approval. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-4369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eligible Celsius users can withdraw all &#039;Distributable Custody Assets&#039; following court approval - Leading Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadingcryptonews.com\/eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eligible Celsius users can withdraw all &#039;Distributable Custody Assets&#039; following court approval\" \/>\n<meta property=\"og:description\" content=\"Crypto lending platform Celsius has reported that certain users will be able to take out 100% of their original funds more than 300 days after the platform froze withdrawals. In a May 4 announcement, Celsius said\u00a0eligible users would be able to withdraw the remaining 6% of distributable custody assets from the platform following court approval. 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