• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Celsius Fights Back: Appeals Court Ruling Against $444M Claim on FTX Transfers

Celsius Fights Back: Appeals Court Ruling Against $444M Claim on FTX Transfers

Samuel Edyme
by Samuel Edyme
9 months ago
·
Posted in Celsius
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The ongoing legal battle between collapsed crypto lending platform Celsius and bankrupt cryptocurrency exchange FTX appears to have now entered another phase.

Celsius recently filed a notice of appeal against Judge John T. Dorsey’s ruling, which “disallowed its $444 million claim” against FTX.

According to reports, the dispute stems from the collapsed crypto lending platform’s allegations of “preferential transfers” and “disparaging remarks” by FTX officers that allegedly accelerated the lending platform’s financial collapse.

Related Reading: Celsius Founder Alexander Mashinsky Pleads Guilty To $4.7 Billion Fraud Charges

Key Legal Arguments and Court Ruling

The legal dispute revolves around the adequacy of Celsius’ initial proofs of claim and the procedural correctness of its amended filings.

Initially, the collapsed crypto lending platform had sought $2 billion in damages, claiming that FTX officers made unsubstantiated and damaging statements about the lending platform’s financial condition.

Celsius filed a Notice of Appeal against Judge Dorsey’s ruling for FTX debtor

Elected for Appeal to be heard in the District Court

Facts
1) Celsius Filed a $2bn claim for disparagement before the bar date

2) Celsius filed a $444m amended claim for a preference claim after bar… pic.twitter.com/evaBzMi5Lt

— Sunil (FTX Creditor Champion) (@sunil_trades) January 1, 2025

Although this claim was later revised, focusing instead on “preferential transfers” totaling $444 million, however, in its original filing, Celsius included only a brief reference to investigating possible preference claims, which the court ruled “insufficient” to support its allegations.

When the collapsed crypto lending platform later filed an amended claim focusing on the $444 million in alleged preferential transfers, Judge Dorsey found the amendment “procedurally improper.”

A statement from the court filing.
A statement from the court filing. | Source: Sunil Kavuri on X

The court highlighted four key issues with Celsius’ amended claim: it was filed after the bar date without permission, lacked sufficient connection to the original claim, did not justify the delay, and would cause undue prejudice to FTX’s ongoing reorganization process.

These factors collectively led to the dismissal of the collapsed crypto lending platform’ revised claim. In response, Celsius argued that its initial filing should have been sufficient to signal its intentions regarding avoidance claims.

Furthermore, the company stated that its filings complied with the requirements of the Bankruptcy Code and served as protective measures to ensure the claims remained valid during the legal proceedings.

Next Steps in the Legal Battle

The notice of appeal, filed by Celsius litigation administrator Mohsin Meghji on December 31, signals the company’s intention to continue pursuing its claims against FTX.

The appeals will focus on whether Celsius’ original proofs of claim met the necessary legal standards and whether its amended filings should have been accepted despite the procedural delays.

Related Reading: FTX Announces Effective Date For Chapter 11 Reorganization Plan: January 3, 2025

FTX creditors, represented by activist Sunil Kavuri, have raised concerns about the legitimacy of Celsius’ claims, noting the significant delay in filing the amended claims and the lack of clear procedural adherence.

It is worth noting that the outcome of this appeal will have significant implications for both bankrupt entities and their respective creditors, as hundreds of millions of dollars are at stake.

The global digital crypto market cap value amid Celsius news
The global digital currency market cap value on the 1-day chart. Source: TradingView.com

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Samuel Edyme

Samuel Edyme

Follow

Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

Full Profile

Related Posts

Celsius

Celsius Makes Good On Promise, Begins Distributing $3 Billion To Creditors

1 year ago
Celsius network

Celsius Network Crypto Holdings Are On The Move, What’s Happening?

1 year ago
Celsius

Celsius Founder Alex Mashinsky Pleads Not Guilty, Granted Bail

2 years ago
Celsius

Celsius Cleans House: All Altcoins To Be Sold For Bitcoin And Ethereum

2 years ago
Fed Chair's Bullish Stablecoin Stance Clashes With SEC's Cautious View

Fahrenheit Emerges Victorious, Acquires Celsius’ Assets In A Bidding War

2 years ago
Celsius

Celsius Commences Withdrawals Eight Months After Filing For Bankruptcy

2 years ago

Premium Sponsors

Press Releases

  • Fleet Asset Management Group Brings the Power of Cloud Crypto Mining in a Low-Carbon Package.

    Fleet Asset Management Group Brings the Power of Cloud...

    11 hours ago
  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    4 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    4 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    4 days ago
  • 狗狗幣引領『Uptober』Meme...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.