Alex Mashinsky, the former CEO of Celsius, has agreed to surrender all rights to assets tied to the collapsed crypto lender.
According to newly filed court documents, Mashinsky and entities associated with him, including AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC, will be excluded from any future distributions under the Celsius bankruptcy plan.
The filing stated:
“All Claims asserted by, or scheduled by the Debtors on behalf of, (1) Mr. Mashinsky, (2) AMV, (3) Koala1, and (4) Koala3 are withdrawn, disallowed, and shall receive no distribution under the Plan.”
The document also stated that the funds freed from the forfeiture should be redistributed to affected customers and creditors.
This development marks another chapter in Celsius’s ongoing bankruptcy proceedings, which began in mid-2022 following the platform’s abrupt suspension of withdrawals.
So far, Celsius has returned roughly $2.53 billion to users. Approximately 70% of creditors have received some form of
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