Celsius Faces DOJ Challenge to Proposed Executive Bonus Plan

The Department of Justice’s bankruptcy watchdog objected to Celsius Network LLC’s proposed plan to pay executives up to $2.8 million in bonuses, saying it’s too expensive and company benchmarks for earning the money are too easy.

Celsius has portrayed the bonus plan as a necessary incentive for top-tier executives, but the tasks it asks them to complete are “merely layups,” the US Trustee said in an objection filed Friday in the US Bankruptcy Court for the Southern District of New York.

The proposed plan would pay 10 executives up to $2.8 million if they meet certain goals as the crypto ...