DOJ Seeks to Block Celsius Motion to Reopen Withdrawals

The Department of Justice (DOJ) is objecting to a motion by troubled cryptocurrency lender Celsius, seeking to reopen withdrawals for selected customers. Since Celsius halted withdrawals in June, the company has filed for Chapter 11 bankruptcy, while the CEO recently resigned from his position. A United States Trustee for the DOJ, William Harrington, on Friday (September 30, 2022), filed an objection, asking the bankruptcy court to deny Celsius’ motions to reopen withdrawals for certain creditors and sell its stablecoin holdings. As previously reported by CryptoPotato, the firm filed for the resumption of withdrawals for customers whose assets are held in its Custody Program and Withhold Account.