Celsius Appeals $444 Million Claims Rejection in FTX Bankruptcy

A litigation administrator for Celsius Network LLC is appealing a bankruptcy judge’s dismissal of $444 million in preference claims against fallen crypto exchange FTX Trading Ltd.

The administrator, tasked under Celsius’ restructuring plan with pursuing lawsuits on behalf of creditors, filed a notice of appeal Dec. 31.

Judge John Dorsey of the US Bankruptcy Court for the District of Delaware said Dec. 18 that Celsius failed to provide adequate details for preference claims and that subsequent amendments to the claims were improperly filed.

Celsius initially filed more than 100 proofs of claim in June 2023, claiming more than $2 billion ...