lonic Digital Community (formerly Celsius Network) announced on social media that the Celsius APP will be closed on February 28th. Therefore, access to the Celsius platform and its contained records can only be made within less than 30 days. It is recommended that eligible custodial account holders withdraw their funds as soon as possible and export the transaction list for each digital asset.

Celsius Network has issued a security reminder, reminding users that Celsius will never call, send emails or text messages asking users to share passwords or verification codes. If users receive suspicious messages, they can report them to the relevant email.

Celsius Network deposited an additional 5,000 ETH (worth $10.46 million) into Coinbase about 4 hours ago, as monitored by Spot On Chain. Since November 14, 2023, Celsius Network has deposited a total of 29,760 ETH (worth $60.94 million) into Coinbase, FalconX, and OK at an average price of $2,048.

Celsius, the cryptocurrency lending platform that filed for bankruptcy in July 2022, has started allowing withdrawals for some of its users enrolled in the Custody Program. These users can withdraw 72.5% of their cryptocurrency holdings, but transaction fees will reduce this amount. The deadline for these transactions is February 28, and it is important to note that this opportunity is not available to customers who voted against the reorganization plan. Celsius has faced technical challenges during this process, and legal battles continue for its CEO, Alex Mashinsky.

According to data monitored by Spot On Chain, FTX and Celsius Network have both transferred ETH in the past hour.

Crypto lender Celsius Network has scaled back its post-bankruptcy plans to focus solely on bitcoin mining, after receiving feedback from the US Securities & Exchange Commission (SEC) regarding its other planned business lines. The company had previously intended to earn "staking" fees by validating blockchain transactions and managing its legacy portfolio of cryptocurrency loans. Celsius said it now plans to hold back certain assets that would have been transferred to the new company, and instead liquidate them as part of the wind-down of its bankruptcy. The pivot has led to further negotiations with Fahrenheit, a consortium of bidders selected to lead the reorganised company.

Crypto lender Celsius Network has been granted approval by a US bankruptcy court for a restructuring plan that will see cryptocurrency returned to customers and a new company created, owned by Celsius creditors. The reorganised business will be managed by Fahrenheit LLC, which includes hedge fund Arrington Capital, and will focus on mining new bitcoin and earning "staking" fees by validating blockchain transactions. Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals, and the restructuring plan includes a settlement that values Celsius's proprietary crypto token, CEL, at 25 cents.