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FTC To Join Crypto Lender Celsius’ Bankruptcy Case

Celsius has been making headlines a lot lately, and now the platform is in the spotlight again. Check out the latest reports below.

FTC joins Celsius’ case

It’s been just revealed that The Federal Trade Commission wants to get involved with failed crypto lender Celsius Network’s bankruptcy case.

On Tuesday, two lawyers with the business regulator, Katherine Johnson and Katherine Aizpuru, asked the judge overseeing Celsius’ proceedings for permission to represent the FTC, according to the latest reports coming from CoinDesk.

She also requested a copy of all relevant documents. The requests had not been granted by press time.
The FTC declined to comment, according to the same notes.

The Celsius Network has been making headlines a lot lately due to some unfortunate events. Now, the entity is in the spotlight again. Check out the following reports.

Celsius co-founder addresses his equity

According to the latest reports, a Celsius Network co-founder has moved in court to declare the entirety of his equity stake in the company as “worthless.”

CoinDesk noted that in a recent document to the United States Bankruptcy Court, law firm Kirkland & Ellis LLP filed a declaration on behalf of Celsius Co-Founder Daniel Leon.

This was confirming his status as a substantial shareholder and declared that his 32,600 common shares were now considered worthless.

BnkToTheFuture CEO Simon Dixon said in a Monday Twitter post that the declaration means that Celsius Network private equity shares are now “officially worthless.”

More than that, the co-founder wants to use them as a tax write-off.

Stay tuned for more news.

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