Proposal to raise the CEL valuation to $0.8 for Celsius token holders has been rejected.

According to BlockBeats news on August 25th, Celsius Network's native token holders recently attempted to increase the valuation of CEL tokens but were unsuccessful. A judgment issued by the New York bankruptcy court on Thursday stated that Celsius' native token holders were unable to successfully argue that CEL should be valued at $0.8, the trading price on the day the crypto lending platform filed for bankruptcy in July 2022. Celsius' management proposed a valuation of $0.25 for CEL, as they hope to quickly wrap up company affairs, accelerate the sale to crypto consortium Fahrenheit, and return funds to creditors. This valuation itself has already increased compared to the previous $0.20, and was approved by the judge in a disclosure statement related to the sale with Fahrenheit last week.