Prime Trust reaches a settlement with Celsius Network, returning nearly 17 million dollars in tokens

ChainCatcher news, according to TheBlock, at a bankruptcy court hearing held on Thursday, crypto custodian Prime Trust reached a settlement with Celsius Network, agreeing to return nearly $17 million in tokens to Celsius. Prime Trust stated that these assets will be transferred to a designated Celsius wallet, and will then await a court order for the distribution of funds.

According to previous reports, Celsius sued Prime Trust in August, accusing Prime Trust of withholding tokens when it terminated the contract in June 2021, including 398 BTC, 196,268 CEL, 3,740 ETH, and 2.2 million USDC, valued at approximately $17 million. Celsius filed for bankruptcy protection in July this year. (source link)