Recover 72.5% of Your Encrypted Currency: The Newly Approved Settlement Agreement for Celsius Custodial Account Holders
According to reports, a federal judge in the United States has approved a settlement agreement between the Celsius debtor, the unsecured creditor committee, and the ad hoc group of
According to reports, a federal judge in the United States has approved a settlement agreement between the Celsius debtor, the unsecured creditor committee, and the ad hoc group of custodial account holders. If Celsius custodial account holders choose the newly approved settlement agreement, they can recover 72.5% of the encrypted currency in their custodial account.
US judge has approved the Celsius settlement agreement, allowing holders to recover 72.5% of their cryptocurrency
Are you one of the Celsius custodial account holders who lost a significant amount of your encrypted currency due to the company’s bankruptcy? Then, good news! According to reports, a federal judge in the United States has approved a settlement agreement between the Celsius debtor, the unsecured creditor committee, and the ad hoc group of custodial account holders. This newly approved settlement agreement allows Celsius custodial account holders to recover 72.5% of the encrypted currency in their custodial account. Keep reading to learn more about this settlement agreement, how it works, and how you can benefit from it.
What Is Celsius?
Celsius is a cryptocurrency lending and borrowing platform that allows users to earn interest on their cryptocurrency deposits or borrow cryptocurrency against their holdings. Celsius also offers custodial accounts to its users, which allow them to hold their cryptocurrencies safely in the Celsius wallet. However, in December 2020, Celsius filed for bankruptcy, leaving many of its custodial account holders in a hopeless situation. Fortunately, with the approval of the newly proposed settlement agreement, Celsius custodial account holders now have a chance to recover their lost funds.
What Is the Newly Approved Settlement Agreement?
The newly approved settlement agreement between the Celsius debtor, the unsecured creditor committee, and the ad hoc group of custodial account holders is a legal solution to compensate Celsius custodial account holders who lost their encrypted currency due to Celsius’s bankruptcy.
Under this settlement agreement, Celsius custodial account holders can choose to recover 72.5% of their encrypted currency in the Celsius wallet. The compensation will be distributed in US dollars based on the value of the encrypted currency at the time the court approves the settlement agreement. The remaining 27.5% of the encrypted currency will be distributed to Celsius general creditors and stakeholders.
What Are the Benefits of This Settlement Agreement?
This settlement agreement offers several benefits to Celsius custodial account holders. Here are some of the main advantages of this agreement:
Reclaim Lost Funds
The most significant benefit of this settlement agreement is that it allows Celsius custodial account holders to recover 72.5% of the encrypted currency in their Celsius wallet. This compensation can go a long way in helping you recover your lost funds and move forward with your financial goals.
Avoid Lengthy Legal Proceedings
Fighting legal battles is never easy. But with this settlement agreement, Celsius custodial account holders do not have to go through the lengthy legal proceedings involved in getting their money back. The approval of this settlement agreement by the court makes it possible to recover your funds without going to court.
Access Your Funds Sooner
Recovering your funds quickly and efficiently is a top priority for many Celsius custodial account holders. Under this settlement agreement, you won’t have to wait for months or years to get your funds back. The compensation will be distributed as soon as the court approves the settlement agreement.
What Happens If I Don’t Choose the Settlement Agreement?
If you don’t choose the settlement agreement, you may have to go through legal proceedings to recover your lost funds. This could take months, if not years, and there is no guarantee that you will get all your funds back. Moreover, legal proceedings can be expensive and time-consuming, costing you more money and creating additional stress.
Conclusion
The newly approved settlement agreement between the Celsius debtor, the unsecured creditor committee, and the ad hoc group of custodial account holders is good news for Celsius custodial account holders who lost their encrypted currency due to the company’s bankruptcy. This agreement offers a chance to recover 72.5% of the encrypted currency in your Celsius wallet, saving you from lengthy legal proceedings and allowing you to access your funds sooner. If you’re a Celsius custodial account holder, consider choosing the settlement agreement to reclaim your lost funds and move forward with your financial goals.
FAQs
1. How do I choose the settlement agreement?
To choose the settlement agreement, you need to fill out a form that will be sent to your email address. Follow the instructions provided in the email to complete the form and choose the settlement agreement.
2. When will I receive my compensation?
Your compensation will be distributed as soon as the court approves the settlement agreement. The exact timeline for distribution is not yet known.
3. What happens if the settlement agreement is not approved by the court?
If the settlement agreement is not approved by the court, Celsius custodial account holders may have to go through legal proceedings to recover their lost funds. Keep an eye on your email for updates regarding the settlement agreement.
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