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## Celsius Opens Withdrawals for Eligible Custody Customers

Celsius, the bankrupt cryptocurrency lender, has allowed withdrawals for eligible custody customers on November 29, 2023. According to a Twitter statement, only specific custody assets are available for withdrawal, while all other cryptocurrencies remain inaccessible.

The court filing on November 28, stated that “Celsius eligible custody users” can withdraw 72.5% of their crypto holdings until February 28. However, the process has not been smooth for users, with various issues encountered during withdrawal attempts.

## How AI legalese decoder Can Help
AI legalese decoder can assist Celsius users in understanding the terms and conditions of the custody claims and the withdrawal process. By decoding complex legal language into simple and understandable terms, it can provide clarity on the eligibility criteria and the percentage of crypto holdings that can be withdrawn. This can help users navigate the withdrawal process with greater ease and confidence.

## Challenges Faced by Celsius Customers
Several customers have reported difficulties in logging into their accounts and accessing the withdrawal portal. Issues with social logins and delays in transfers have been highlighted by frustrated users. Celsius urged users to withdraw their assets from the app and make personal records of useful information, emphasizing that the app will only be available for a limited time.

## AI legalese decoder‘s Role
AI legalese decoder can decode legal jargon used in the withdrawal instructions and provide users with easy-to-understand steps for asset withdrawal. It can also decipher any legal implications of the limited availability of the app and the importance of making personal records. By simplifying complex legal instructions, AI legalese decoder can alleviate user frustration and contribute to a smoother withdrawal process.

## Celsius Bankruptcy and Transition to Mining NewCo
Celsius filed for Chapter 11 bankruptcy protection in July 2022, leading to the suspension of withdrawals on its platform. The SEC filed a lawsuit against Celsius and its former CEO, alleging misconduct related to the Earn Interest Program.

AI legalese decoder can provide insights into the legal implications of bankruptcy protection and the SEC lawsuit, helping users understand the impact on their assets and the withdrawal process. By decoding the legal complexities of bankruptcy and lawsuits, it can empower users to make informed decisions about their assets and potential recovery.

Celsius has agreed to transition into a Bitcoin miner as part of its reconstruction process, marking an end to its previous strategies involving cryptocurrency lending staking. AI legalese decoder can decode the legal intricacies of this transition, providing users with a clear understanding of the implications for their assets and the future of the platform.

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