The filing of Celsius Network for voluntary petitions for reorganisation under Chapter 11 of the U.S. Bankruptcy Code is, without a doubt, affecting our users and their Bitcoin Interest Accounts.

We understand that this big news and a legal process like this is complex – and that it can feel overwhelming for the individual person. That's why we’re taking direct action to offer guidance and provide all relevant and additional useful information. To give you a better understanding of what the Chapter 11 application means, together with the latest updates we’ve shared a helpful explanation on our blog already.

At the moment, we’re preparing ways to support everyone affected by Celsius Network’s decision directly, within the legal frameworks given. As explained to all Bitcoin Interest Account users in our latest email, here’s what we’re currently working on together with our legal advisors to help you navigate the situation:

  • Guidance on the next steps and actions Bitcoin Interest Account holders can take in form of general information*
  • A step-by-step guide provided by U.S. legal advisors on completing the claim for the Chapter 11 proceeding with Stretto, who have been appointed as the debtors’ claims and noticing agent for this proceeding
  • German-language guidance for completing the Proof of Claim form**
  • Provision of a comprehensive statement from the Bitcoin Interest Account investments and activity that may be relevant for the claim for every respective Bitcoin Interest Account holder

We’ll continue to share important updates about the process via email with all Bitcoin Interest Account holders, as well as on this blog – and why we back you up on that journey as far as we can.

To be continued.

*As outlined in our T&Cs for the Bitcoin Interest Account and the corresponding documentation, the Bitcoin Interest Account is based on a contract between you and Celsius Network directly. Nuri, in its position as an investment broker (acting under the licence umbrella of Solarisbank AG), is not allowed to provide any form of advice or to assert or file any claims on your behalf.

** Please note that we understand from our lawyers that there are currently no deadlines for the filing of any claims. So we understand that there is no need for Celsius Network’s creditors to take immediate action. We will of course try to keep you posted also in this respect.