Celsius Bankruptcy - Uses Give Up Legal Rights to Cryptos

In june 20 22, the company gained notoriety when they indefinitely paused all transfors, transfers and withdrawals due to extreme market conditions. Now this resulted in steep declines in the price of bit coin and other cryptocos. On the thirteenth of july, 20 22, celsius filed for chapter 11 bankruptcy. So lawyers for the company claim that uses gave up their legal rights to their crypto. One point seven million registered uses across over 100 companies gave up titled to the crypto they deposited to earn and borrow accounts,. This is all directly quoted from the article. As a result, colsius is free to use sole pledge and rehypothecate those coins as it wishes.