Legal Battle Between Celsius and FTX

Crypto lending platform Celsius has appealed a judge's decision to dismiss its claims against FTX in a bankruptcy case. Initially seeking $2 billion for alleged disparaging statements, Celsius later focused on preferential transfers, claiming $444 million in damages. Judge Dorsey rejected both claims, citing procedural issues with Celsius' proofs of claim. Celsius filed an appeal against this decision. FTX creditor activist Sunil Kavuri highlighted Celsius' filing tactics, including a $2 billion claim for disparagement and a $444 million preference claim. The court deemed Celsius' amended proofs of claim improper, as they were not related to the original claims and would prejudice FTX's reorganization. Despite repaying $2.53 billion to creditors, Celsius' native token (CEL) has seen a significant drop in value. The legal battle continues as Celsius seeks to recover funds from FTX.