Celsius custody account holders can receive 72.5% of the cryptocurrency in their custody accounts after Bankruptcy Judge Martin Glenn approved a settlement in the defunct crypto lender's bankruptcy case, TheBlock.co reported. Judge Glenn gave the green light to a settlement between the Celsius debtors, the unsecured creditors committee and an ad hoc group of custodial account holders during a hearing on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York. Individual custody account holders must opt into the settlement. In turn, the Celsius debtors will agree to settle all causes of action against custody account holders with respect to their custody assets, according to the terms of the deal. "Because custody holders have the right to opt in, nobody is being forced to accept this settlement. I think that’s quite important here,” Judge Glenn said.
