PANews reported on October 14th that BRIC (co-founded by GXD Labs and VanEck) announced that Tether has paid $299.5 million to the Celsius Network bankruptcy estate to settle bankruptcy law and related claims filed against Tether in August 2024. The case involved the transfer of collateral and liquidation of Celsius prior to its July 2022 bankruptcy. BRIC, which was appointed as complex asset recovery and litigation administrator in January 2024, continues to manage Celsius's illiquid assets and litigation assets to facilitate the liquidation.PANews reported on October 14th that BRIC (co-founded by GXD Labs and VanEck) announced that Tether has paid $299.5 million to the Celsius Network bankruptcy estate to settle bankruptcy law and related claims filed against Tether in August 2024. The case involved the transfer of collateral and liquidation of Celsius prior to its July 2022 bankruptcy. BRIC, which was appointed as complex asset recovery and litigation administrator in January 2024, continues to manage Celsius's illiquid assets and litigation assets to facilitate the liquidation.
Tether to pay $299.5 million to Celsius bankruptcy consortium
PANews reported on October 14th that BRIC (co-founded by GXD Labs and VanEck) announced that Tether has paid $299.5 million to the Celsius Network bankruptcy estate to settle bankruptcy law and related claims filed against Tether in August 2024. The case involved the transfer of collateral and liquidation of Celsius prior to its July 2022 bankruptcy. BRIC, which was appointed as complex asset recovery and litigation administrator in January 2024, continues to manage Celsius's illiquid assets and litigation assets to facilitate the liquidation.
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