Community Update — Second Day Hearing
Today, alongside the Unsecured Creditors Committee (UCC), which is made up primarily of our customers, the U.S. Trustee, and a number of other important parties, we participated in the Second Day Hearing in our case, where we continued the dialogue around Celsius’ efforts to maximize value for our community.
A lot of ground was covered, including:
• Our productive, transparent, and ongoing engagement with the UCC
• Work by all parties to advance thinking on key legal issues in this complex proceeding
• Our intention to see our customers capture any and all value associated with the recent rise of crypto
We are encouraged that the community has a voice in this process. We aimed to address some of the key community concerns that are being shared as part of our case.
We are working expeditiously on the path forward. We have a meeting with the UCC next week to discuss optionality for customer recovery, and our next hearing is expected to take place on September 1, 2022.
The full presentation from today’s hearing can be found here.