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Claim review. Corporate status

Supported

The cited record supports the material proposition.

Celsius said it emerged from Chapter 11 bankruptcy on 31 January 2024 after freezing customer withdrawals in 2022.

About
Celsius Network LLC
Claim made by
Celsius Network, company statement
Published
27 March 2024
Original
Celsius Distribution FAQ
Evidence score
74 How it was scored
Last reviewed
25 October 2026

Why this label

The corporate status is supported. The company states it emerged from Chapter 11 bankruptcy on 31 January 2024S7. The CFTC release records the earlier collapse, stating the firm revealed its liabilities exceeded assets by more than one billion dollarsS5. The filing date of 13 July 2022 and the June 2022 withdrawal freeze are in the regulator recordsS5. The company statement is a tier B source for the exit date. It does not set out final creditor recovery amounts, so this claim covers only the fact and date of emergence, not how much creditors received.

Current procedural position

Chapter 11 filed on 13 July 2022S5. The company reports it emerged from Chapter 11 on 31 January 2024, with distributions to account holdersS7.

Record supporting the assessment

emerged from Chapter 11 bankruptcy on January 31, 2024.
S7 Tier B Celsius Network, Celsius Distribution FAQ, 27 March 2024
revealing that its liabilities exceeded its assets by more than one billion dollars.
S5 Tier A US Commodity Futures Trading Commission, CFTC Charges Alexander Mashinsky and Celsius Network, LLC with Fraud and Material Misrepresentations in Massive Commodity Pool Scheme Involving Digital Asset Commodities, 13 July 2023

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 74 of 100

The score grades how well the record establishes this assessment. It is not a score of Celsius Network LLC. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?1830The exit date comes from the company, a tier B source, with regulator context.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1820The company statement names the exact exit date.
CorroborationDo independent records support the same material point?1015The CFTC record corroborates the collapse, not the exit date itself.
Procedural accuracyDoes the record settle the procedural state the claim describes?1215Emergence from Chapter 11 is a settled corporate event.
CurrencyHas the record been checked against later developments?810The company page was last updated in March 2024.
ReproducibilityCan a reader locate the passage and repeat the assessment?810The company post is public, though later edits are possible.
Total74100

Timeline

  1. Celsius freezes customer withdrawalsS5
  2. Celsius files for Chapter 11S5
  3. Celsius emerges from Chapter 11S7

Related cases

  • In re Celsius Network LLCUS Bankruptcy Court for the Southern District of New York. Insolvency. Not published.Stage: Plan effective. Company emerged on 31 January 2024S7.
    • Celsius emerges from Chapter 11S7

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S7Tier B Celsius Distribution FAQCelsius Network. Company statement. 27 March 2024.Company statement giving the Chapter 11 exit date of 31 January 2024. It does not state a final total recovery for creditors.
  2. S5Tier A CFTC Charges Alexander Mashinsky and Celsius Network, LLC with Fraud and Material Misrepresentations in Massive Commodity Pool Scheme Involving Digital Asset CommoditiesUS Commodity Futures Trading Commission. Regulator press release. 13 July 2023.Supports the safety misrepresentation allegation and the collapse. The charges were civil allegations at this date.

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