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Bankrupt Celsius Seeks to Return $50 Million of Locked Crypto

  • Small slice of Celsius users may soon get their coins back
  • Move highlights diverging fortunes of platform’s users
In this photo illustration, the Celsius Network logo is
Photographer: Rafael Henrique/SOPA Images/LightRocket/Getty Images

Celsius Network Ltd., the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

The company asked for a US bankruptcy judge’s permission to release about $50 million worth of cryptocurrency stuck on the platform in so-called custody accounts, which were designed to store digital assets rather than generate returns. A full hearing on the request is set for October 6, according to court papers