Celsius exits bankruptcy, commences return of over $3B to creditors
Crypto lender Celsius’ exit from bankruptcy comes more than 18 months after it halted withdrawals, with creditors now set to get a share of $3 billion in crypto and fiat.
Celsius has emerged from Chapter 11 Bankruptcy in the United States and is set to start distributing $3 billion worth of crypto and fiat to creditors.
In a Jan. 31 press release, the crypto lender said its bankruptcy exit will also see the creation of a Bitcoin mining company, Ionic Digital, Inc. managed by crypto mining firm Hut 8.
Hut 8's Chief Commercial Officer Matt Prusak was named CEO of Ionic, whose stock is "expected to be publicly traded once the requisite approvals are received."
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