🚨 Celsius to Distribute $127M in BTC or USD 🚨

Celsius is set for its second payout, distributing $127M across five creditor groups, including retail borrowers, earn claimants, and unsecured loans. Creditors will receive 60.4% of their claim value (as of the Petition Date).

Key Updates:

January 2023: Exited Chapter 11 bankruptcy.

August 2023: Distributed $2.53B, covering 93% of eligible value.

November 2023: New payouts begin, alongside Ionic Digital shares for some creditors.

Background:

Celsius filed for bankruptcy in July 2022 after its collapse. Former CEO Alex Mashinsky faces fraud charges (trial in Jan 2025), and ex-CRO Roni Cohen-Pavon awaits sentencing for fraud. The company settled $4.7B with U.S. authorities to reorganize.

🔍 Trader Insight: Watch for potential market impacts as BTC liquidity shifts!

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