Judge orders Celsius to pay its customers

A court order requires Celsius to payout crypto to its customers.

According to a court order, Celsius must payout cryptocurrencies to its customers. This does not apply to Earn program users.

U.S. bankruptcy judge Martin Glenn has ordered Celsius Network LLC, the crypto withdrawal service, to return all crypto to its customers. Bloomberg reports this. The order issued calls for about $44 million to be released.

Still unclear when the money will be transferred

Counsel for Celsius and various stakeholders concluded that the coins held only in so-called custody accounts belonged to users, not the bankrupt company, according to the filing. "I want this case to move forward. I want creditors to get as much back as quickly as possible," Judge Glenn said. He noted that the order does not apply to Earn program customers. A decision on the legal handling of coins in interest-bearing accounts is still to be made, he added.

It remains unclear when customers can expect a payout. Celsius filed for bankruptcy in the summer. At that time, about $167 million was available.