This is some pretty big news for anyone involved in the Celsius case. I personally lost most of my crypto holdings in Celsius, so obviously I’m biased.
Effectively what happened is that the SEC (American federal financial regulator, Securities and Exchange Commission) and Celsius (the “Debtor”) have reached a agreement extending the deadline that the SEC has to claim that certain debt is non-dischargeable. Which effectively means that the SEC is highly likely going to sue Celsius (potentially on behalf of those affected) and charge them with crimes. This is the end of the beginning, and the start of the end for the executives of Celsius and those involved in this fraud. The FTC did the same a few days ago.
Tweets from a lawyer involved in the case David Adler:
https://twitter.com/davidjadler1991/status/1581043403709894656?s=46&t=I6a1Ma3n_vJ2zoJOVtLm3g
https://twitter.com/davidjadler1991/status/1581013380902420480?s=46&t=I6a1Ma3n_vJ2zoJOVtLm3g
He also mentioned that the FTC (and now SEC) could use this to file charges, since one of the few exemptions to discharging debt is fraud/basically other criminal acts.
Fingers crossed this goes well!
Source: https://cases.stretto.com/public/x191/11749/PLEADINGS/1174910182280000000019.pdf
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