Celsius Network, the cryptocurrency lending company that has gone bankrupt, has just filed an appeal against the court's decision to dismiss its claim for $444 million against the now-defunct FTX exchange.
- The appeal is pending review in the District Court, as part of Celsius's legal efforts to recover funds from FTX.
- Initially, Celsius sought compensation of up to $2 billion, alleging that FTX harmed its reputation.
- Judge John Dorsey dismissed the claim due to lack of evidence and improper procedure.
- Celsius continues its legal efforts to recover this disputed amount. 💼
Despite facing legal challenges, Celsius has proceeded to repay $2.5 billion to more than 250,000 creditors and is expected to distribute an additional $127 million from the recovery fund. 🌐