DOJ Opposes Celsius Opens Up Cash Withdrawals to Customers

According to The Block, the U.S. Department of Justice trustee opposed Celsius’ motion to return funds to customers, stating that the court has not yet fully understood the company’s crypto assets and the relationship between its crypto balance sheet and the cryptocurrencies deposited by creditors. , any distribution or sale at this time may inadvertently affect or limit distributions to other creditors. The DOJ trustee wanted more information about the storage and possible commingling of accounts tied to Celsius crypto assets before any distribution of funds, and why account servicing for some clients changed in April. Celsius' next hearing will be on October 6.