Celsius, the angel of death?

“I’ll terminate my life if I don’t receive my money back. These are the statements of Australian Katie Davis, who was completely wiped out by the bankruptcy of bitcoin lender Celsius. Numerous other similar remarks can be found in the letters that were sent this week to the Southern District of New York’s federal court.

Customers of Celsius Network seek legal counsel.

Celsius just submitted a petition to the Southern District of New York’s federal court asking permission to carry on with business while it heals. His clientele became hostile in response to this. Users of the lending platform are now want justice so that it will be simpler for them to repay their cash that have been frozen. Numerous of them have written to the case’s judge, Martin Glenn, asking for his assistance.

A victim of the Celsius bankruptcy, Stephen Bralver, commented, “This is an EMERGENCY, merely to have a roof over my family and food on their table.”

Will the strongest rule the most?

Regarding the order of the funds’ return in this scenario, several issues come up. More specifically, the question is who will receive payment first if and when that time comes.

According to reports, Celsius has more than 100,000 creditors, of which about 50 are significant businesses. Small investors worry that the business will first reimburse this group of clients. She ultimately abandons them, leaving them to linger in never-ending hope.

The destruction of Celsius has put thousands of people in peril all across the world. In addition to a financial loss, individuals also express concern about a decline in their mental health. The testimonials unite people from completely diverse backgrounds to discuss the same drama. An unfortunate truth for those who, although believing in cryptocurrencies, made the mistake of giving their money to the incorrect individual.