Bankrupt crypto lending platform Celsius filed an updated bankruptcy plan that incorporates the successful bid by the Fahrenheit consortium to buy its assets, which must be approved by the New York Bankruptcy Court overseeing the liquidation.

David Adler, an attorney representing some of Celsius' borrower groups, said the debtor has chosen to process the retail loan claims through an offset process, where the debtor has no intention of meeting its contractual obligations (i.e., returning the collateral to the borrower) despite the debtor's demand for repayment of the loan (i.e., requiring the borrower to perform). This proposed process is a near-violation of consumer lending laws (state and federal), and the interim borrower groups will oppose the plan.