Judge Glenn Approves 72.5% Settlement on Celsius Custody Accounts

• Bankruptcy judge approves 72.5% settlement for Celsius custody account holders.
• Customers accepting the condition will receive payment in two tranches of 36.25% each.
• Accepting the settlement will mean losing the right to pursue further litigation.

A United States bankruptcy judge, Martin Glenn, has approved the settlement agreement for Celsius custody account holders to receive 72.5% of their crypto claims. There will be a review of the settlement agreement within 30 days, and customers who opt to go with it will receive payment in two tranches of 36.25% each, with the first payment coming up front, while the second tranche will be paid by the end of the year.

Bankruptcy Court: The #Celsius Custody settlement is approved. Will be optional for customers. 30 days to review. Those who opt in will get 72.5% of their claim in two distributions 36.25% up front and 36.25% upon plan resolution (or at end of year).

— Cam Crews (@camcrews) March 21, 2023

According to reports, the settlement agreement comes with additional conditions, including the position that customers who accept the settlement will lose the right to pursue further litigation. The settlement pro…

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