The court gave Celsius an extension to come up with a Chapter 11 restructuring plan by Feb. 15. Judge Martin ordered the return of $44 million worth of crypto held in customers’ custodial accounts on Dec. 7. Celsius declared bankruptcy July 14.
The ruling makes reference to $18 million worth of stablecoins in the Earn program that Celsius had sought to sell, saying it should be allowed:
The United States Trustee and state securities regulators had argued against allowing that sale, saying Celsius already had the liquidity to operate “over the next few months.”