Celsius tried to ease customers’ anger over its freeze on account withdrawals, but indicated it doesn’t intend to release their funds quickly as the cryptocurrency lender aims to weather the downturn in digital currencies and craft a repayment plan.

Celsius lawyers used the company’s debut appearance in bankruptcy court on 18 July to defend its decision to halt withdrawals last month, saying that was necessary to safeguard customers’ financial interests as users fled and crypto assets sold off.