Celsius Network distributed $127 million to eligible creditors in the second payment under bankruptcy proceedings, Odaily Planet Daily reported.
The distribution increases the total recovery rate to 60.4% of eligible claim amounts, based on 57.65% when the first payment was made in January 2024.
The second distribution consisted primarily of liquid crypto assets, with funds converted into Bitcoin at an average price of $95,836.23 to match the value of the claims.
The payments cover categories such as retail deposit claims, general income claims and unsecured loan claims.
Former Celsius Network CEO Alex Mashinsky will go to trial by jury beginning on January 28, 2025, following a pretrial conference on January 16, 2025.