Celsius Judge Approves Independent Probe of Lender’s Holdings

An independent examiner will probe the digital asset holdings of Celsius Network LLC, a further sign of the intense scrutiny the crypto lender is facing in bankruptcy.

US Bankruptcy Judge Martin Glenn in a hearing Wednesday signed off on a request to appoint an examiner in the case. The move originated with an arm of the Justice Department that oversees bankruptcy court, which has repeatedly called for heightened transparency during the insolvency proceedings.

The examiner will, among other things, look into how Celsius stores its crypto and whether various account types are commingled, court papers show. The examiner has ...