Case summary
What happened
Celsius grew as a crypto interest and lending platform, halted withdrawals during the 2022 market crisis, entered Chapter 11, and later emerged from bankruptcy with distributions to creditors and a wind-down of its consumer platform.
Customer result
Customer outcome
Partial repayment
Celsius exited bankruptcy and began creditor distributions. Customer recovery depended on account/product type and claim treatment. This record is intentionally conservative until direct plan documents are parsed.
- Estimated recovery
- varies by claim class
- Repayment started
- 2024-01-31
- Repayment completed
- —
- Confidence
- Medium
Asset treatment
Terms risk
Varies by product
Celsius account and product category affected asset-treatment and customer-outcome analysis. Direct court order citations should be preferred when available.
- Affected product
- Celsius Earn and other Celsius account categories
- Confidence
- Medium
Celsius Earn account assets were treated differently from some other product categories in bankruptcy-related analysis and rulings.
Known unknowns
Uncertainty
Recovery and asset treatment varied by product and claim class. This seed record should be upgraded with direct bankruptcy docket references before being treated as complete.
Chronology
Historical record
Celsius begins operating
Celsius began operating as a crypto lending and interest account platform during the early growth period for centralized crypto yield services.
Launch date is approximate and should be verified against primary company history sources.
No direct evidence linked to this event yet.
Withdrawals and transfers paused
Celsius announced a pause on withdrawals, swaps, and transfers, citing extreme market conditions.
Core failure-chain event.
Chapter 11 bankruptcy filed
Celsius and affiliated debtors filed for Chapter 11 bankruptcy protection in the Southern District of New York.
Bankruptcy filing anchors the main restructuring period.
Reorganization plan confirmed
The bankruptcy court confirmed Celsius's plan, setting up distributions to creditors and a transition out of bankruptcy.
Needs direct docket evidence in later pass.
Creditor distributions begin after bankruptcy exit
Celsius exited bankruptcy and announced that distributions to creditors would begin, including crypto and other recovery components.
Customer outcome depends on claim type.
Source record
Evidence dossier
Filter by claim, reliability, source type, and whether evidence is linked to a specific event.
customer outcome
1 sourcesCelsius exits bankruptcy
Reuters · 2024-01-31
Supports bankruptcy exit and creditor distributions.
Event
3 sourcesCelsius withdrawal pause memo
Celsius Network · 2022-06-12
Supports Celsius platform pause.
Celsius Chapter 11 case information
Stretto
Bankruptcy case portal for Celsius.
Celsius plan approval coverage
Reuters · 2023-11-09
Secondary coverage of plan confirmation.
terms risk
2 sourcesCelsius asset treatment coverage
Investopedia · 2023-01-05
Secondary source for Earn account ownership issue.
SEC charges Celsius Network and Alex Mashinsky
U.S. Securities and Exchange Commission · 2023-07-13
Direct SEC source for Celsius regulatory and disclosure-risk context, including allegations around the Earn Interest Program, CEL token sales, and misleading statements to investors.
No evidence records match the current filters.
Comparative records