Odaily Planet Daily News According to court documents, Celsius Network is distributing $127 million to eligible creditors in a second payment under bankruptcy proceedings after its collapse in July 2022. The latest distribution raises the overall recovery rate to 60.4% of eligible claims, based on the initial payment made in January 2024, when approximately 57.65% of eligible claims were paid in the form of liquid crypto assets or cash. The second distribution consists mainly of liquid crypto assets, with funds converted to Bitcoin at an average price of $95,836.23 to match the claim value. Payments cover various categories of creditors, including retail deposit claims, general income claims, and unsecured loan claims. Former Celsius Network CEO Alex Mashinsky will begin accepting a jury trial on January 28, 2025, following a pretrial hearing on January 16, 2025.