A U.S. Trustee for the DOJ has objected to the plan from Celsius to reopen withdrawals to certain customers, saying it seeks to 'impulsively distribute funds' to one group of creditors.
The Department of Justice has submitted an objection to Celsius’ motion to reopen withdrawals for select customers and sell its stablecoin holdings.
In a Sept. 30 filing with the Bankruptcy Court for the Southern District of New York, a U.S. Trustee for the DOJ, William Harrington outlined an objection to Celsius opening up withdrawals to its"custody" and"withhold" customers, citing a lack of transparency over the firm’s financials. “The Motions are premature and should be denied until after the Examiner Report is filed. First, the Withdrawal Motion seeks to impulsively distribute funds to one group of creditors in advance of a fulsome understanding of the Debtors’ cryptocurrency holdings.”
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