#CelsiusNetwork Litigation Admin Q1 '26 Report
The Admin is currently holding $127M in cash, roughly 2.5% recovery so far. There is still some significant amount of money on the horizon but biggest tranches likely to come from Equities First and preference settlement.
Biggest updates:
✅Rhodium delivered $39M this quarter (another $11M still incoming)
✅EquitiesFirst settlement looks imminent as negotiations are occurring for a possible resolution.
Breakdown:
-> Preference Litigation Settlement
Nearly 2,500 complaints filed against parties that didn’t settle. Seeking return of assets valued at > $2 billion (as of June 2024 prices, $3.4k ETH & $62k BTC). Actual recoveries will be a fraction of that headline number, significant but could be costly..
->
@EquitiesFirst
Parties agreed to pause arbitration and negotiate a resolution. Prior term agreement was a payment totaling $361M cash 3,765 BTC (though it’s unclear if they hold anything currently near that value).
->
@BadgerDAO : Discovery phase. Claiming 900 BTC lost in the hack.
-> Blockfills (Reliz Technology Group): Exactly as predicted, defaulted on the second note. Only paid $16.7M . Celsius Estate is now a creditor in their proceeding
-> Three Arrows Capital (3AC): Celsius received $5.68M; total claim is $40M
-> Terraform Labs: $2B claim (part of the UCC in their bankruptcy). Expected total asset pool for all claimants: $100M–$485M. Largest potential upside is litigation vs. Jump Trading (suing for $4B).
-> Compound: Motion to dismiss granted in part / denied in part. Some officers also being pursued. Tied to $90M liquidation of 50.2k ETH
-> Rhodium: $39M received in Q1. Total expected recovery is $50M
-> Celsius StakeHound vs Fireblocks: Joint litigation to recover 25,000 ETH.
-> Chainalysis: No damages figure yet. Both sides agreed District Court is the right venue for the fraud & consumer-protection claims.
-> Symbolic Capital Partners: Suing for 18,426 ETH in improper pre-petition transfers/liquidations. Court denied their motion to dismiss.
-> Archblock: Discovery underway to recover $13M
-> Institutional Loans: Admin working to call/terminate loans while monetizing $39M collateral.
-> Stranded Wallets: ARM has recovered $14.9M to date more to come..
Source (on the sub tweet)