Celsius Network, a leading global cryptocurrency lending and borrowing platform, recently released a list of users eligible to withdraw the majority of their cryptocurrency assets. This news follows the recent announcement that the platform will be closing its doors in February 2023.
Though it also states that it is unclear if eligible customers will be allowed to withdraw the remaining 6% of the assets because the court will make a ruling on this subject at a later date.
Eligible consumers will also receive information about gas and transaction fees linked with the impending withdrawal processes. Eligible customers who do not have enough assets in their accounts to cover these costs will not be able to withdraw their assets, according to Celsius.
Celsius Announced The News Amidst Turmoil
The announcement comes as Celsius’s court-appointed examiner submits a court file on some parts of the lender’s activities, including data regarding its intricate relations with the defunct FTX exchange. Celsius used the accounting programme Quickbooks to keep track of his finances, according to the examiner report.
The list includes users who have been with the platform since its inception, users who have had at least one loan or deposit on the platform, as well as users who have used Celsius for more than one month. Those eligible will be able to withdraw up to 99% of their crypto assets in one transaction.
The announcement also stated that all other users will be able to withdraw up to 50% of their crypto assets. The withdrawal deadline for both groups of users is set for February 1, 2021.
In a statement, Celsius Network CEO Alex Mashinsky said: “We are sad to see the end of an era and want to thank our users who have been with us since the beginning. We hope that our users will benefit from the crypto they have earned through Celsius and will continue to use our products in the future.”
