Celsius Announces Fund Availability
In a bold move, Celsius has declared that certain users will finally be able to withdraw 100% of their original funds, more than 300 days after the platform halted withdrawals. This is not just a glimmer of hope but a light at the end of a very long tunnel for those who have been anxiously waiting since June 2022.
What Are the Withdrawal Conditions?
On May 4, Celsius released a statement confirming that eligible users could reclaim the remaining 6% of their distributable custody assets after the court gives its seal of approval. The announcement comes as a relief to many who had grown accustomed to hearing the phrase, “You can only withdraw a measly 94% of your funds, so sorry!” It feels akin to receiving a karmic bonus after patiently playing the waiting game.
Eligible Users: Who Gets to Party?
- Those who held funds solely in custody accounts.
- Users with transfer amounts below $7,575 at the time of the transfer.
If you belong to this exclusive club, congratulations! You will soon have full access to your funds, or so the court reports lead us to believe.
Users Frustrated Over Withdrawal Backlog
However, all is not sunshine and rainbows. Many Celsius customers have detailed their grueling experiences trying to withdraw their funds, with some reporting puzzling delays even when their money was supposed to be available. Social media is filled with users asking the age-old question: “Where’s my money?” It’s a perplexing situation that has left many scratching their heads.
Legal Issues Looming Over Celsius
Celsius’s troubles do not end with frozen assets. The company is navigating a stormy sea of legal challenges, including a proposed merger of its UK and US entities as they look to streamline matters for efficient bankruptcy proceedings. Meanwhile, Celsius founder and former CEO Alex Mashinsky is tangled in a legal web spun by the New York Attorney General’s office. He recently contested the allegations, claiming that the case against him is largely based on misinformation. Ah, the drama of digital finance.
What Lies Ahead for Celsius Users?
The future seems uncertain. With the court’s impending decision and the potential for further twists in the legal saga, customers are understandably on edge. For those fortunate enough to receive their 100% withdrawal, this could be the moment they’ve been waiting for, while others remain left in limbo, pondering their next steps. Will they take their hard-earned crypto and run, or stick around until the dust settles? Only time will tell!
