Celsius Network has filed a notice of appeal against a judge's ruling that dismissed its $444 million claim against FTX. The appeal comes after Judge Dorsey disallowed Celsius's claims, initially filed for $2 billion in damages due to alleged disparaging statements made by FTX officers. This claim was later amended to focus on preferential transfers that were argued to unfairly benefit certain creditors. The court found Celsius's proof of claims inadequate, citing procedural issues and a lack of timely amendment requests. Celsius contends that its original claims were sufficient to notify debtors about potential avoidance claims. The firm has claimed around $2.53 billion is owed to approximately 250,000 creditors. In November, Celsius indicated plans to distribute an additional $127 million to creditors from litigation recovery efforts. The Celsius token (CEL) has seen significant fluctuations, recently falling below $0.20.

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