Paxful to Refund Celsius Earn Deposits to Affected Company Members
About a week ago, a settlement was reached between Celsius and Celsius Custody account holders. As a result, the latter group was promised a refund of up to 72.5% – half on the spot and half by the end of the year – provided they signed away their right to further litigation. Yesterday evening, Ray Youssef – Paxful’s CEO – announced he would be refunding those in the Paxful community who were also Celsius Earn users.
Although the cross-section between Celsius Earn users miffed by the refund agreement and Paxful users is relatively small, the gesture will make whole some of those who had previously lost hope in seeing their funds again. It’s unclear exactly how many users are involved – however, Youssef confirmed that the total refunded amount will be around 8.8 BTC, which would be taken from Paxful’s coffers. Youssef also apologized to the community for prior involvement with Celsius via Paxful Earn, stating that he and his company should have known better than to trust the high APY returns promised. Originally, Paxful staff believed the bankruptcy deal reached by Celsius and its creditors.
Source
https://t.me/Bitcoin_NewsTg
