Celsius Network reaches resolutions with government entities

By Sarah Lizee

Olympia, Wash., July 14 – Celsius Network LLC announced that it has reached consensual resolutions with the Department of Justice, the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Trade Commission.

The company said in a Thursday press release that resolutions announced today are not expected to affect its Chapter 11 plan of reorganization or the value to be returned to customers through the plan.

Celsius said its special committee and senior leadership remain committed to ongoing cooperation with regulators and government bodies as the company remains focused on maximizing value for stakeholders.

The Hoboken, N.J.-based cryptocurrency lending platform filed bankruptcy on July 13, 2022 under Chapter 11 case number 22-10964.

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