Crypto Lender Celsius Shouldn’t Reopen Custody Withdrawals, US Trustee Says

The company’s motion to reopen withdrawals would only apply to customers holding “pure custody assets,” which Celsius has failed to define. The objection claims that distributing funds to a limited group of customers without a full understanding of the company’s crypto holdings, its debts, and the transfers between its various accounts and subsidiaries could “inadvertently impact or limit distributions to other creditors.”