According to Foresight News, the majority of creditors of the bankrupt cryptocurrency lending company Celsius have voted in favor of a plan that will see debtors distribute approximately $2 billion worth of Bitcoin and Ethereum to creditors, as well as allocate equity in a new company. This new company will begin operations and further establish the debtor's Bitcoin mining and Ethereum staking businesses, monetizing the debtor's other illiquid assets and developing new regulatory-compliant business opportunities.
The case will now be heard by the United States Bankruptcy Court for the Southern District of New York, with a hearing currently scheduled for October 2nd to make a final approval decision.
