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Former Celsius CEO Alex Mashinsky and related entities are excluded from the bankruptcy asset distribution.
Gate News bot message: According to the latest ruling from the Bankruptcy Court for the Southern District of New York, former Celsius CEO Alex Mashinsky and his affiliated entities AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC have waived their claims to the bankruptcy assets of Celsius.
The court has determined to prioritize the return of funds to creditors, and currently the total claims of Celsius creditors have exceeded $1 billion.
According to a report from Cointelegraph, Alex Mashinsky has previously been sentenced to 12 years in prison for crypto fraud.
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