WSJ: Celsius reaches critical settlement agreement, seeks court approval for its settlement proposal at the hearing on August 10th.

According to BlockBeats news on July 22, Celsius Network, a cryptocurrency lending company, has reached a settlement agreement that may help it obtain court approval to return customer assets. One of the settlement agreements resolves claims made by customers against Celsius for fraud and false statements by increasing the amount of recovery by 5%. Celsius has also settled 30,000 claims, which seek compensation of $78 billion. Celsius will seek court approval for the settlement proposal at a hearing on August 10. The confirmation hearing for Celsius' restructuring plan is scheduled for October, and customers may receive payment in cryptocurrencies and other assets by the end of the year.