The letters - posted to a public online court docket - come from around the world and recount tragic results of users' money being frozen. The company owed $4.7 billion to its users, according to a court filing earlier this month, and the endgame is unclear. Celsius and its CEO Alex Mashinsky had billed the platform as a safe place for people to deposit their crypto currencies in exchange for high interest, while the firm lent out and invested those deposits.īut as the value of highly volatile crypto currencies plummeted - bitcoin alone has shed over 60 percent since November - the firm faced mounting troubles until it froze withdrawals in mid-June.
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