Celsius Network Pays More Than $3M to Lawyers

Cryptocurrency lending platform Celsius Network sent $3.35 million from July 13 to July 31 to pay for the services of the law firms Kirkland and Ellis and Akin Gump for participating in the company’s restructuring process.

The first received almost $2.6 million, and the second about $750 thousand.

The crypto lending platform suspended withdrawals, exchanges and transfers between accounts on June 13.

A month later, Celsius and some of its affiliates filed for Chapter 11 bankruptcy. The platform’s liabilities exceeded its assets by $2.85 billion.

In August, the US Office of Trustees said there were “numerous questions” for the firm’s management.