GXD Labs and EquitiesFirst Reach Settlement Over Celsius Claims, Involving $500 Million Payment

Odaily Planet Daily News: Digital asset investment and advisory firm GXD Labs announced that it has reached a settlement with global equity financing company EquitiesFirst regarding claims arising from loans the latter provided to the bankrupt crypto lending platform Celsius Network. Under the settlement agreement, the parties will complete a total payment of $500 million and dismiss the adversarial proceedings and related arbitration processes initiated since September 2023.

It is reported that GXD Labs established the Blockchain Asset Recovery Investment Coalition (BRIC) in 2023. Subsequently, the coalition was appointed by the debtor and the unsecured creditors committee as the complex asset recovery administrator and litigation administrator in the Celsius bankruptcy case. (Businesswire)