According to a ruling by the U.S. Bankruptcy Court for the Southern District of New York, former Celsius CEO Alex Mashinsky and related entities will no longer participate in the distribution of Celsius bankruptcy assets. The court has decided to prioritize the return of funds to creditors, while Mashinsky and AM Ventures Holdings Inc., Koala1 LLC, and Koala3 LLC have agreed to waive their claims on Celsius bankruptcy assets. To date, Celsius creditors have filed claims totaling over $1 billion. Previously, Alex Mashinsky was sentenced to 12 years in prison for crypto fraud. (Cointelegraph)