Celsius wants to return some of its customers' funds.
Here's some (sort of?) good news for customers that were burned by the Celsius collapse:
The bankrupt company said it wants to return around $50 million worth of crypto to its customers.
...here's the catch:
The funds will only be available to customers that were using the platform's 'custody' program (to store their crypto).
Those that were using Celsius' 'earn' program to accrue interest on their holdings, won't be so lucky.
$50 mill isn't anything to scoff at, but we're going to go ahead and scoff...
The platform's 'custody' program stored a total of $210.02M worth of crypto, so less than a quarter of that is being returned to customers.
PLUS, it's not even where most of the money was being held - the 'earn' program made up the bulk of customer holdings, at $4.3B!
Moral of the story: use self custody wallets.
