Bloomberg Tax
Dec. 15, 2022, 3:48 PM

Celsius Aims to Sue Voyager to Claw Back Millions in Crypto

James Nani
James Nani

Bankrupt cryptocurrency lender Celsius Network LLC is seeking to sue bankrupt Voyager Digital LLC to try to claw back $7.7 million worth of cryptocurrency.

Voyager’s bankruptcy automatic stay prevents others from suing the crypto broker. But Celsius Network asked the US Bankruptcy Court for the Southern District of New York on Wednesday to lift the stay so it can try to recover cryptocurrency withdrawn from Celsius accounts. Other withdrawals and transfers may also be subject to challenge, Celsius said.

Allowing Celsius to reclaim $7.7 million from $1.85 billion of Voyager’s unsecured claim pool would have “very little, if any, effect” ...