Peer-to-peer crypto exchange Paxful will refund the balances of users affected by the collapse of Celsius last year, according to a statement. March 29th.
Until recently, Paxful offered an interest-bearing product called Paxful Earn. However, Celsius went bankrupt in his June 2022, and Paxful was stripped of the funds it held in Celsius Ahn. Paxful, on the other hand, prevented customers from withdrawing funds from his own Paxful Earn platform.
Now, Paxful founder and CEO Ray Youssef says users who keep funds in Paxful Earn will get their account balances refunded.
Youssef commented on the fact that court proceedings have determined that the balance of Celsius Earn belongs to bankruptcy property. He said the decision “doesn’t suit me even today” and that individuals are dependent on their investments.
The CEO said the company had ‘dug-in’ [its] I will make the refund in my pocket.
Youssef did not provide an exact date that users can expect the refund, but said users can expect the funds to appear in their wallets by the end of the week.
Paxful’s post refunding earned balances for users affected by the Celsius collapse first appeared on CryptoSlate.
