Tether Settles $299.5 Million Claim With Celsius Bankruptcy Estate
Tether has paid $299.5 million to the Celsius Network bankruptcy estate, resolving a legal dispute that stemmed from the cryptocurrency lender’s collapse in 2022. The settlement was announced Monday by the Blockchain Recovery Investment Consortium (BRIC), a joint venture between GXD Labs and VanEck. The payment follows an adversary proceeding filed in August 2024 in the U.S. Bankruptcy Court for the Southern District of New York, where the Celsius estate sought claims under the bankruptcy code related to collateral transfers and liquidations prior to its Chapter 11 filing. David Proman, managing partner at GXD Labs and affiliate of Atlas Grove Partners, confirmed the settlement, noting that the resolution concludes Celsius’s claims against Tether. Terms beyond the payment amount were not disclosed. BRIC’s Role in the Celsius Bankruptcy Formed in early 2023, the BRIC was created to recover value from distressed or complex digital asset bankruptcies, including Celsius. The consortium was appointed as Complex Asset Recovery Manager and Litigation Administrator by Celsius debtors and the Unsecured Creditors’ Committee in January 2024, following the company’s emergence from bankruptcy protection. Under its mandate, the BRIC manages a mix of illiquid assets and litigation portfolios tied to the Celsius estate. Its goal is to recover value for creditors during the estate’s wind-down phase, which continues to address residual legal and financial claims. The BRIC is led by R. Christian Wyatt and David Proman from GXD Labs, alongside Pranav Kanade and Matthew Babinsky from VanEck. The group brings experience in digital asset recovery, litigation management, and restructuring. Legal Counsel and Broader Context The litigation was handled with legal representation from Quinn Emanuel Urquhart & Sullivan LLP, whose bankruptcy and restructuring co-head Benjamin I. Finestone advised the BRIC throughout the proceedings. Celsius filed for Chapter 11 bankruptcy in July 2022, one of several major crypto lenders to collapse during that year’s market downturn. The resolution of the Tether dispute marks another step toward finalizing creditor recoveries and concluding the Celsius wind-down process. The BRIC continues to oversee remaining legal and financial matters for the Celsius estate as the broader crypto industry navigates ongoing restructuring and recovery efforts.
Bitkub Affiliate Program: Overview, Benefits & Commission
The cryptocurrency trading market is changing quickly, and by endorsing reputable exchanges, affiliate programs have become a profitable way to generate passive revenue. Affiliate opportunities are available at Bitkub, Thailand’s top cryptocurrency exchange, which was established in 2018, and UEEx, a newcomer that debuted in 2021. However, UEEx distinguishes itself with higher commissions, innovative features like copy trading and anonymity, and a more accessible program for affiliates of all levels. This in-depth comparison explores both programs, highlighting why UEEx is likely the superior choice for maximizing earnings and delivering value to your audience. Key Takeaways Overview of the Bitkub Affiliate Program Bitkub, established in February 2018 and based in Bangkok, Thailand, is a leading cryptocurrency exchange offering advanced trading services for digital assets (Bitkub). Its affiliate program, often referred to as the Bitkub Referral Program, allows users to earn commissions by referring new traders to the platform. Key features include: Commission Structure Eligibility Requirements Support and Tools Global Availability Bitkub’s program benefits from the exchange’s strong reputation in Thailand and its user-friendly platform, which supports a wide range of cryptocurrencies. However, its modest commission rate and lack of advanced features limit its appeal compared to more innovative programs. Overview of the UEEx Affiliate Program UEEx, launched in 2021, has quickly gained traction by prioritizing innovation, user empowerment, and affiliate-friendly policies. Its affiliate program is designed to maximize earnings with high commissions and unique selling points like copy trading and enhanced privacy. Here’s what sets it apart: Commission Structure Support and Tools Security Measures Accessibility UEEx’s trading platform supports over 230 spot trading pairs, 30+ futures pairs, low fees, and standout features like copy trading and anonymity. These advantages make it a compelling option for both affiliates and their audiences. Comparison Table: Bitkub vs. UEEx Affiliate Programs Feature Bitkub UEEx Spot Commission Rate 20% 75% Futures Commission Rate 20% 75% Multi-Level Commissions No Yes Customizable Rebates No Yes Support Standard 24/7, Dedicated VIP Manager Security Standard Very High (90% cold storage) Eligibility Requirements None Straightforward review Global Reach High (Thailand-focused) 180+ countries Copy Trading None Advanced, One-Click Functionality Anonymity Features Full KYC required No KYC for Basic Trading Trading Pairs Varies 230+ Spot, 30+ Futures Fee Structure Competitive Very Low, User-Friendly This side-by-side comparison highlights UEEx’s edge in commission rates, flexibility, support, and innovative features—key factors that make it a standout choice for affiliates. Related: DIFX Affiliate Program: Overview, Benefits & Commission In-Depth Look: Bitkub Affiliate Program Bitkub’s affiliate program is designed for simplicity and accessibility, allowing anyone to earn commissions by referring users to its Thailand-based exchange. The 20% commission rate applies to all trading fees from referred users, with no cap on referrals, providing a steady income stream for active affiliates. The platform’s strong local presence, with over 6 million users in Thailand, and its seamless mobile app make it an attractive option for referrals (Bitkub Review). Strengths Limitations For affiliates targeting Thai crypto traders, Bitkub offers a reliable program, but its limitations make it less competitive against global, feature-rich alternatives. In-Depth Look: UEEx Affiliate Program UEEx’s affiliate program is a game-changer, combining high commissions with innovative features that appeal to both affiliates and traders. Its flat 75% commission rate—applied uniformly to spot and futures trading—dwarfs Bitkub’s offerings, while the multi-level structure amplifies earnings as your referral network grows. For example, if your direct referral earns you $100 in commissions, their referrals could add another $20–$30 monthly, compounding over time. Standout Feature #1: Advanced Copy Trading UEEx’s copy trading feature is a cornerstone of its appeal, enabling users to mirror the trades of top performers with a single click. Here’s why it’s a game-changer: This feature attracts a wide range of users, giving affiliates a powerful selling point: “Join UEEx and profit like the pros—without the work.” Standout Feature #2: Enhanced Anonymity Privacy is a priority for many crypto enthusiasts, and UEEx delivers with its no-KYC policy for basic trading. Here’s how it shines: This anonymity feature sets UEEx apart from Bitkub, where KYC is likely mandatory, making it a magnet for privacy-conscious traders and a unique angle for affiliates to promote. Additional Standout Features These features collectively make UEEx a versatile and attractive platform, enhancing its value proposition for affiliates. Why UEEx Outshines Bitkub: A Detailed Breakdown Real-World Example: Earnings Potential Imagine you refer 10 active traders, each generating $200 in monthly trading fees: UEEx could net you $16,800 more annually, showcasing its superior scalability. Conclusion: UEEx is the Clear Winner While Bitkub offers a reputable program backed by its dominance in Thailand, UEEx takes the crown with higher commissions, multi-level earnings, and groundbreaking features like copy trading and anonymity. Its user-friendly design, low fees, and robust security further enhance its appeal, making it a platform that affiliates can confidently promote to diverse audiences. Whether you’re a seasoned marketer or a newcomer, UEEx provides the tools, flexibility, and earning potential to elevate your affiliate game. Get Started Today: Join the UEEx Affiliate Program and start earning 75% commissions with multi-level rewards. Reach out to our agent recruitment manager on Telegram (@johanson_JJ) to kick off your journey to passive income success!
