Celsius initially sought $2 billion, accusing FTX of defamatory statements that hurt its reputation, leading to its downfall in 2022. By July 2024, the claim was revised to $444 million, focusing on preferential transfers favoring certain creditors. Despite the legal setbacks, repayments to creditors continue.

Judge John Dorsey dismissed both claims, citing procedural flaws and lack of evidence in Celsius’ filings. He criticized the amendment as unrelated to original claims and lacking court approval. Still, Celsius intends to pursue the appeal, aiming to reclaim disputed funds from FTX efforts.