Wu said that according to court documents, after filing for bankruptcy in July 2022, Celsius Network is distributing $127 million to qualified creditors in the second payment under the bankruptcy proceedings. The latest distribution increases the total recovery rate to 60.4% of the eligible claim amount, based on the first payment in January 2024, at which time approximately 57.65% of eligible claims were paid in 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.