U.S. Bankruptcy Judge to Issue Judgment on Ownership of $18M in Celsius Interest-Bearing Accounts

According to Bloomberg, Judge Martin Glenn of the U.S. Southern District of New York (Manhattan) Bankruptcy Court will make a judgment on the ownership of assets in the interest-bearing account of the encrypted lending platform Celsius. Celsius previously asked Glenn to allow it to sell $18 million worth of crypto assets on its balance sheet that users deposited into interest-bearing accounts before Celsius went bankrupt in July. Glenn will have to decide whether those interest-bearing account assets belong to Celsius or to depositors, a decision on the legal issue that will affect other crypto bankruptcy cases.