• Attorney denies claims by crypto blogger Tiffany Fong that five bids for Celsius‘ crypto assets were mostly abandoned
• White & Case LLP attorneys Gregory Pesce and Aaron Colodny address the so-called „leaked“ bids for Celsius‘ crypto assets
• Counsel representing Celsius‘ official creditor committee state that the assertion that the bids have been rejected is false
Celsius Bankruptcy Bids Denied
Attorney’s for Celsius’ official creditor committee are denying claims by crypto blogger Tiffany Fong that five bids for the bankrupt lender’s crypto assets were mostly abandoned. During a recent Twitter Space “town hall” following the examiner’s report on Celsius, attorneys from White & Case LLP, Gregory Pesce and Aaron Colodny, addressed the so-called „leaked“ bids for Celsius‘ crypto assets.
Bids Not Rejected
The counsel representing Celsius‘ official creditor committee has denied assertions that the bids for Celsius‘ crypto assets have been rejected. The attorney refrained from confirming whether bids mentioned in the leak were accurate or not but said it was „regrettable“ as it reduces the flexibility the committee has in the negotiation process.
Fong’s Claims
Fong’s Jan. 27 post on Substack pointed to at least five firms that were reportedly interested in bidding on Celsius‘ crypto assets, including Binance, Bank To The Future, Galaxy Digital, crypto trading company Cumberland DRW and digital asset investment firm NovaWulf. At the time Fong said the bids were „for the most part, abandoned“ — referring to an earlier statement from a Celsius lawyer proclaiming the bids they received so far „have not been compelling.“
Negotiation Process
However, lawyers for Celsuis UCC argued that this was not true. Every day, they and debtors are providing public messages and private messages to potential investors about where they stand in their process according to Pesce. This allows them to be flexible with negotiations and get more return from account holders recoveries.
Conclusion
In conclusion lawyers of White & Case LLP deny all claims made my Tiffany Fong of rejected proposals of five firms wanting to purchase Celcius Crypto Assets while also aiming to achieve maximum recovery rate form account holders through their negotiation process..