MIAMI, FL and INDIANAPOLIS, IN (May 22, 2026)— Today, GXD Labs, a wholly-owned subsidiary of Atlas Grove Partners, and EquitiesFirst jointly announced a settlement of claims relating to loans made by EquitiesFirst to Celsius Network. The settlement, which includes $500 million in payments, resulted in the dismissal of both an adversary proceeding originally filed in September 2023, and a related arbitration.
“We are pleased to have reached a settlement with EquitiesFirst,” said R Christian Wyatt, Co-Founder and Managing Partner, GXD Labs. “This bespoke, out-of-court resolution is an important milestone for Celsius’s creditors and the bankruptcy estate, and a testament to the rigorous, strategic approach our firm brings to complex asset recovery.”
“We appreciate the collaboration with GXD Labs to put this matter behind us,” said Al Christy, Jr., Founder and Chief Executive Officer, EquitiesFirst. “EquitiesFirst looks forward to continuing to be a leading provider of progressive capital throughout the world just as we’ve done since the firm was founded 24 years ago.
”GXD Labs managed the litigation against EquitiesFirst through the Blockchain Recovery Investment Consortium (BRIC), which was created in early 2023 to maximize recoveries in complex digital asset bankruptcies like Celsius. The BRIC was appointed Complex Asset Recovery Manager and Litigation Administrator by the Debtors and Unsecured Creditors’ Committee in the Celsius Network bankruptcy in January 2024, following Celsius’s exit from bankruptcy protection.
Atlas Grove has not acted in any investment advisory capacity by virtue of supplying this information. This communication is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. No offer or solicitation of any security will be made prior to the delivery of offering documents, and only in compliance with applicable law.