Celsius distributes $2B of crypto to 172K creditors
According to the court filing, around 20,500 Bitcoins and 301,000 Ether tokens have been distributed among eligible creditors, without any security or operational issues.
Bankrupt crypto lender Celsius has announced that most eligible creditors have now collected their liquid cryptocurrency distributions from its two distribution agents, payments giant PayPal, and cryptocurrency exchange Coinbase.
In a recent court filing, Kirkland & Ellis, the legal team representing Celsius, provided an update on the creditor distributions as outlined in the restructuring plan. This follows Celsius' announcement last week that it successfully emerged from bankruptcy, which was filed in July 2022.
According to Kirkland & Ellis, crypto distributions to holders in the U.S. are facilitated through PayPal, while overseas holders are managed by Coinbase as the distribution agent. The lawyers declared that $2 billion worth of crypto has been claimed, including 20,255.66 Bitcoin (BTC) and 301,338.77 Ethereum (ETH).
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