• CEL’s price logged gains during the weekend trading session.
• This was a result of a settlement reached between Celsius and its unsecured creditors.

Celsius [CEL] price experienced growth during the weekend’s trading session as the beleaguered token rallied by 5% between 22 and 23 July. During the intraday trading session on 22 July, CEL’s price grew by 12% to rank among the day’s top gainers, data from CoinMarketCap revealed. 

Read Celsius Network’s [CEL] Price Prediction 2023-2024

Celsius and its creditors may finally see eye-to-eye

The weekend rally was attributable to the news of Celsius reaching a settlement with the Official Committee of Unsecured Creditors concerning a class claim. In this claim, account holders accused the crypto platform’s former management of engaging in fraudulent activities, misrepresentation, and other actions that purportedly caused harm to them.

According to court documents filed on July 20, the bankrupt lender noted that the settlement with the committee was to prevent any major harm to “creditors through delayed distributions and ultimately lower distributions as a result of increased administrative expenses incurred in connection with adjudicating such claims.”

Celsius stated that it was willing to offer an additional 5% to the claims of account holders who opt into the lawsuit settlement. 

“Any eligible Account Holder who does not opt out of the Settlement will r

Go to Source to See Full Article
Author: Abiodun Oladokun

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details