Cryptocurrency lender Celsius Network LLC has attracted millions of people looking to make money from Bitcoin betting over the past five years.
Some of these amateur investors banded together on a new goal of getting their money back after their companies went bankrupt this summer in a cryptocurrency crash.
Thousands of Celsius customers flock to social media apps like Telegram and Reddit to jointly analyze legal documents, pool money to pay lawyers, and create YouTube recaps of court hearings unfolding.
Founded by Alex Mashinsky in 2017, Celsius become a leading cryptocurrency lender with a promise to upend traditional banking and empower ordinary people to unlock the potential of digital currencies.
Celsius suspended all withdrawals in June and filed for bankruptcy in July saying that it owed customers nearly $4.7 billion in crypto.
The deficit between the company's liabilities and assets, which includes cryptocurrencies and other holdings, was about $1.2 billion.
There were roughly 58,000 users holding $180 million in these accounts, according to the initial Celsius bankruptcy filing.