Bankrupt crypto lending firm Celsius is set to distribute an additional $127 million to creditors, with the funds coming from its “Litigation Recovery Account”. The distribution will benefit claimants in classes 2, 5, 7, 8, and 9, including retail borrower deposit claims, general earn claims, withhold claims, unsecured loan claims, and general unsecured claims.
Creditors can expect their payout in Bitcoin or cash, depending on their qualifications, with the distribution following the same payment methods used in August: PayPal, Venmo, or Coinbase. The first round of payments saw Celsius return $2.53 billion to 251,000 creditors, representing 57.65% of total claims.
Celsius’ former CEO, Alex Mashinsky, was arrested and charged with fraud in July 2023 and will face trial on January 28, 2025.
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