Crypto lending platform Celsius has filed an appeal against a court decision that dismissed its damages claims against FTX. Initially, Celsius sought $2 billion for 'disparaging statements' from FTX officers, later revising its claim to $444 million based on 'preferential transfers.'
Celsius' Initial Claims
Initially, Celsius claimed $2 billion in damages related to alleged 'disparaging statements' by FTX officers. The claim was later revised to $444 million, citing preferential treatment of certain creditors by FTX.
Court's Dismissal of Claims
Judge Dorsey dismissed both claims in December, citing insufficient evidence to support the claims. He noted that Celsius' original claims lacked sufficient detail to maintain their preference claims.
Celsius' Next Steps
On December 31, Celsius Network's asset manager Mohsin Meghji filed a notice of appeal against the court's ruling. Celsius argues that its original claims sufficiently notified the debtors of potential avoidance claims.
Celsius continues to pursue damages from FTX. The legal proceedings are ongoing, and a final resolution has yet to be reached.
