Cryptocurrency News

Celsius lawyers claim users gave up legal rights to their crypto

07/20/2022

Less than a minute

2022.07.20 08:37

Celsius lawyers claim users gave up legal rights to their crypto

Celsius’s 1.7 million registered users across over 100 countries gave up title to the crypto they deposited into Earn and Borrow accounts, according to the firm’s lawyers.

At the first bankruptcy hearing for Celsius on Monday, lawyers from the Kirkland law firm led by Pat Nash detailed how retail users with Earn and Borrow accounts transferred the title of their coins to the firm as per its terms of service (ToS). As a result, Celsius is free to “use, sell, pledge, and rehypothecate those coins” as it wishes.

Terms of Service for Celsius accounts.

07/20/2022

Less than a minute

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