BRIC just scored a $299.5M jackpot from Tether in the Celsius saga-because nothing says ‘major win’ like a crypto heist gone right! 💸💸💸
BRIC didn’t waste any time-Tether just handed over $299.5M like it was a birthday gift. 🎉 But wait, this is a *loss* for future creditors? Oh, the irony! 😂 The lawsuit was filed in August 2024, but don’t worry-this ‘loss’ is a *win* for now. Because nothing says ‘future creditors’ like a quick cash grab! 🤑
Legal Body Secures Significant Tether Payout for Celsius Creditors
The claims were brought up in the *very first instance* of the lawsuit. Tether allegedly failed to meet duties, which is basically the crypto equivalent of forgetting your best friend’s birthday. 🎂 The allegations? Collateral transfers. Because nothing says ‘financial responsibility’ like liquidating assets right before a collapse. 🚨 Celsius filed for bankruptcy in July 2022, and the New York Bankruptcy Court is now playing the role of judge, jury, and… well, the rest of the drama. 🎭
Related Reading: Crypto News: Tether Launches $200M Crypto Fund to Expand XAUT Holdings | Live Bitcoin News
Davie Proman is basically doing a victory dance in his office, shouting, “We did it!” 🕺 While GXD Labs is high-fiving each other like they just won the lottery. 🎁 They’re *so* pleased with the “timeliness” of the agreement. Because nothing says “efficient” like settling a lawsuit in a blink of an eye. 👀
BRIC was founded in 2023, *purposefully*. Its main purpose? Maximize recoveries. Because why settle for a few bucks when you can chase every last penny? 🧠 The Celsius failure? A *target* for BRIC. And now, they’re the “Complex Asset Recovery Manager” and “Litigation Administrator” because nothing says “trustworthy” like being appointed by the Debtors and Creditors’ Committee. 🤝
BRIC is now managing a portfolio of “illiquid assets” and “key litigation assets.” Because nothing says “excitement” like trying to monetize digital dust. 🧹 The Celsius estate? Now has a little more liquidity-because nothing says “clarity” like a sudden influx of cash. 💸
BRIC’s Swift Settlement Boosts Celsius Estate Liquidity
The BRIC team is a who’s who of crypto legal gurus, ready to turn any digital chaos into cash. 💼💰 R Christian Wyatt and David Proman? They’re basically the Avengers of asset recovery. 🦸♂️ Pranav Kanade and Matthew Babinsky? They’re the backup dancers in this high-stakes financial ballet. 🎭
BRIC’s expertise? Liquid and illiquid crypto assets. Because nothing says “versatility” like knowing how to handle both. Their “strategic focus” is a *good* approach-because who doesn’t want their money back *and* a side of drama? 🤷♀️
This settlement is like a much-needed spa day for the Celsius estate-because who doesn’t need a little luxury after a crypto meltdown? 🛁💸 The rapid resolution? A *masterclass* in efficiency. And the legal costs? Minimal, because nothing says “savings” like avoiding a lengthy courtroom battle. 🏛️
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2025-10-15 14:21