A federal judge overseeing crypto lender Celsius’ bankruptcy case has given the green light for the motion to appoint an independent examiner to investigate aspects of Celsius’ business.
In an order dated Sept. 14 from the United States Bankruptcy Court of the Southern District of New York, the order notes the examiner’s investigation will look into Celsius’ digital assets, tax payment procedures, and the current status of its mining business following calls for greater transparency.
The examiner will also look into why there was a change in account offerings in April, resulting in some customers being moved from the Earn Program to Custody Services while others were moved to a “Withhold Account.”
The U.S. Trustee had previously referred to a lack of transparency around these accounts, with customers unaware