Cryptocurrency provider will return $17 million to lender Celsius as it reorganizes in bankruptcy

(CNBC) Crypto service provider Prime Trust agreed Thursday to return $17 million from crypto lending platform Celsius that was allegedly withheld just as digital currencies hit their first bottom last year. Prime Trust, which offers custodial services for digital assets, held $119 million of Celsius’ assets when the two terminated their contract in June 2021, according to the lawsuit Celsius filed against Prime Trust in August. Prime Trust “refused to fulfill its obligation” by transferring the $17 million in crypto assets when the contract was dissolved, Celsius said.

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