Celsius: Restructuring Unaffected by $4.7 Billion Settlement Agreement with US FTC.

According to BlockBeats news on July 14th, the bankrupt cryptocurrency lending platform Celsius Network stated that its $4.7 billion settlement agreement with the US Federal Trade Commission (FTC) will not affect its restructuring or the recovery of assets for its clients. In a statement submitted to the court on Thursday, Celsius stated that the company "remains committed to successfully executing its Chapter 11 plan, and Celsius' special committee and senior leadership continue to work with regulatory and governmental agencies, focusing on maximizing value for stakeholders." As previously reported by BlockBeats, on July 13th, Celsius was banned from trading by the FTC and fined $4.7 billion, with Celsius and its affiliates agreeing to the judgment.