Celsius Is Pretty Pleased With The Resolutions Amid A Fine Of $4.7 Billion


Celsius Network, a bankrupt crypto lender, recently posted that the company was pleased with the conclusions it had come to with the various United States government agencies. This announcement came after the news that the Federal Trade Commission or the FTC had imposed a fine of $4.7 billion on the company.

On the 13th of July, the FTC had apparently reached a settlement with the company- which also came with a fine of $4.7 billion- which was suspended in order to allow the company to return the remaining funds to the users as it went through quite a few bankruptcy proceedings. In the statement, the lender also mentioned that the resolutions will not impact the bankruptcy plan of the firm- or its ability to return the funds to the customers. 

Celsius Has Reached A Resolution With US Agencies

Moreover, it was also stated by Celsius that it was committed to cooperating with the government agencies, as well as the regulators. Although the lender was pleased with the results of the many discussions, a lot of members of the crypto community didn’t seem to be too happy about it.

Many were also incensed by the remarks by the lending company and went on to blast it on Twitter. In one of the many tweets that came up. Joey Hendrickson described the announcement made by the lending network as completely weird. According to this member of the community, if the company had any sort of human conscience, it would never be pleased. 

Amit Palaliya, another Twitter user, went on to agree with the sentiments of Hendrickson regarding Celsius. He expressed his dissatisfaction over utilizing legal and corporate jargon as the company addressed the users. The user also urged the firm to distribute its funds that were left- and then inform the users to move on.