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The bankrupt crypto lender Celsius Network has filed an appeal challenging a court ruling that dismissed its $444 million claim against the defunct crypto exchange FTX. The appeal , which is currently awaiting review in the District Court, comes as part of Celsius’ ongoing litigation efforts to recover funds from FTX. Celsius’ Initial Claim According to court documents, Celsius had originally filed a claim of up to $2 billion in damages from FTX. The claim alleged that FTX officials had made “unsubstantiated and disparaging statements” against Celsius, which undermined its reputation and accelerated its collapse in 2022. However, before the bar date in July 2024, the company amended the claim to $444 million, stating that the new claim would focus on “preferential transfers” that allegedly gave some creditors an advantage over others. In December, Judge John Dorsey, the magistrate in charge of the case, rejected both claims. He pointed out the procedural flaws in Celsius’ filings, stating that they lacked sufficient evidence to maintain the preference claims. Judge Dorsey criticized Celsius’ amended filing, stating that it was improper since the company did not seek court approval. He also noted that the content of the amended claims was not remotely related to the original claims and could obstruct FTX’s restructuring plans. On December 31, Celsius’ litigation administrator, Mohsin Meghji, officially filed a notice of appeal disputing Judge Dorsey’s ruling. In the filing, Celsius argued that its initial fillings met all the requirements of the Bankruptcy Code despite lacking a detailed explanation. The company intends to continue pursuing the case to recover the disputed claim. Celsius’ Repayment Efforts Despite its legal woes, Celsius has made considerable progress to repay its creditors. In August 2024, the company began its repayment effort, distributing $2.5 billion in crypto and cash to more than 250,000 creditors in over 165 countries. In a more recent court filing in November, Celsius announced plans to disburse an additional $127 million to creditors. The company pointed out that this second payout will be made from funds recovered through its litigation efforts. The post Celsius Appeals Court Ruling Dismissing its $444M Claim Against FTX appeared first on CryptoPotato .
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Here Are This Week’s Top Altcoin Gainers as BTC Calms at $98K (Weekend Watch)
Bitcoin calmed over the weekend after the recent roller coasters and its price now stands at just over $98,000. Most altcoins are also quite sluggish today, but the weekly scale shows massive recoveries from the likes of ADA, DOGE, AVAX, and others. BTC at $98K The business week started on the wrong foot for BTC. The asset struggled to remain above $94,000 during the previous weekend but lost that resistance and slumped hard on Monday. As reported at the time, the cryptocurrency dumped by roughly three grand and fell to a monthly low of $91,300. Many started to anticipate that the correction will endure and drive BTC to under $90,000, but the bulls intercepted the move and didn’t allow another such retracement. Just the opposite, bitcoin started to regain value and go through substantial fluctuations but overall managed to get out of its dire situation. It spiked to $99,000 on Friday but was stopped there and pushed south to $98,000. It has remained in a relatively tight range over the weekend and now stands just inches above $98,000 after gaining 3.3% on a weekly scale. Its market capitalization has risen to almost $1.950 trillion on CG, while its dominance over the alts is down by over 1% in a week to 53.1%. Bitcoin/Price/Chart 5.1.2025. Source: TradingView Alts in Weekly Recovery Most altcoins are well in the green on a weekly scale. Ethereum has regained more than 6% of value and sits above $3,600. Ripple’s native token is around $2.4 after a 9% weekly surge. The biggest gainers from the larger-cap altcoins come from Cardano and Dogecoin. Both assets are up by double digits, with ADA leading the way following a 22% surge. Other notable gainers include SUI, which registered a new all-time high, XLM, and AVAX. In contrast, TON and BNB are slightly in the red on a weekly scale. The total crypto market cap has jumped to $3.660 trillion on CG after bottoming at under $3.4 trillion earlier this week. Cryptocurrency Market Overview. Source: QuantifyCrypto The post Here Are This Week’s Top Altcoin Gainers as BTC Calms at $98K (Weekend Watch) appeared first on CryptoPotato . Crypto Potato
Pepe the Boss (PEPEBOSS) Solana Memecoin Will Explode 19,000% Before Exchange Listing, While Shiba Inu and Dogecoin Lag
Pepe the Boss could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Pepe the Boss (PEPEBOSS), a new Solana memecoin that was launched today, is set to explode over 19,000% in price in the coming days. This is because PEPEBOSS is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Pepe the Boss can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Pepe the Boss could become the next viral memecoin. Pepe the Boss launched with over $8,500 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Pepe the Boss on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe the Boss by entering its contract address – 5pgsjH712NZ6eaKunsEfZarG9UotHaxvheW5E39a8NFX – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEBOSS. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price. Crypto Potato
