Quote from: Yogee on January 06, 2023, 04:14:11 PM

Quote from: ChillyMatthew on January 06, 2023, 02:16:41 PM

GM crypto fam,
..... But what happens to the customers now? Will they ever get repaid?

The $4.2 billion "earn products" will become part of the assets that will be liquidated. Priority of proceeds distribution will go to secured creditors. The customers get paid of whatever is left of liquidated assets. That's the process that I know.

The Judge's decision looks unfair but the terms and condition which those customers agreed are pretty clear.

This is why it's best to read the fine print before trying to put some money on anything. While the judge's decision is pretty clear on this one favoring Celsius, it is because they know that the customers agreed to this kind of setup in the first place. Had it not been the case, pretty sure it will be a pretty lengthy battle before they get those funds or even a fraction of it that they can use to their bankruptcy. But yeah, awarding $4.2b without regard on the investors is a dick move IMO. Without the investors' and customers' fund, Celsius wouldn't be able to take off in the first place.