Celsius Wind-down Secures $300M Lifeline from Tether Amid Ongoing Crypto Crisis

Celsius Wind-down Secures $300M From Tether, Say GXD Labs, VanEck A consortium established by the companies announced the recovery of Celsius funds tied to claims against Tether. On October 14, 2025, at 7:05 p.m., a significant development emerged in the ongoing wind-down process of defunct crypto lender Celsius. According to sources close to the matter, Tether agreed to settle with Celsius for $300 million, effectively closing a major bankruptcy dispute. The entity chasing the money, the Blockchain Recovery Investment Consortium (BRIC), is run by GXD Labs and VanEck, two prominent players in the blockchain space. "This settlement marks a crucial milestone in the Celsius wind-down process," said Paolo Ardoino, CEO of Tether, in an exclusive statement to CoinDesk. "We are committed to transparency and cooperation with all stakeholders involved." Background and Context Celsius, once a leading player in the crypto lending market, filed for bankruptcy in July 2022 amidst allegations of mismanagement and financial irregularities. The company's collapse sent shockwaves throughout the industry, leaving investors scrambling to recover their assets. As part of its wind-down process, Celsius established the BRIC to pursue claims against various parties, including Tether. The consortium has been working tirelessly to recover funds tied to Celsius' assets, with a focus on maximizing returns for creditors. Additional Perspectives Industry experts have hailed the settlement as a positive development, citing its potential to restore confidence in the crypto market. "This agreement demonstrates the importance of cooperation and transparency in resolving complex disputes," said David Tawil, CEO of ProChain Capital. "We hope this sets a precedent for future settlements." However, some critics have raised concerns about the implications of this settlement on the broader crypto ecosystem. "While this may seem like a victory for Celsius creditors, it also raises questions about the long-term viability of the crypto market," said Dr. Kathryn Haun, Professor of Law at Stanford University. Current Status and Next Developments The $300 million settlement marks a significant step forward in the Celsius wind-down process. As BRIC continues to pursue claims against other parties, investors can expect further updates on the recovery efforts. In related news, Tether has announced plans to increase its reserves by 10% in the coming months, citing the need for greater transparency and stability in the market. "We are committed to maintaining the highest standards of integrity and cooperation," said Ardoino. As the crypto landscape continues to evolve, one thing is clear: this settlement serves as a reminder of the importance of collaboration and innovation in resolving complex disputes. *Reporting by Coindesk.*