Celsius Customers to Battle Investors for Money From Mining Rigs

Celsius Network LLC customers will likely have to fight with large investment funds over who gets to cash in on the bankrupt crypto lender’s most valuable assets.

Investors including venture capital firm WestCap Management LLC and pension fund Caisse de Depot et Placement du Quebec (CDPQ) believe their equity stakes in Celsius entitle them to value that flows from the company’s crypto mining business and its loan book, among other assets, according to court papers. Customers owed billions of dollars in crypto don’t have claims against those assets, Dennis Dunne of Milbank said on behalf of certain equity holders ...