Court filings and announcements from Celsius Network

Celsius Distributes $2.53B, 93% of Eligible Value, 121K Creditors Awaiting

Aug 27, 2024, 11:10 AM

Celsius Network's bankruptcy administrator has distributed over $2.53 billion to more than 251,000 creditors, according to a recent court filing. This distribution covers 93% of the total eligible value, with disbursements made in both cryptocurrency and cash. Despite this significant payout, 121,000 creditors are still awaiting their claims, many of whom hold claims of less than $1,500. The distribution process, which began in January, was part of a restructuring plan approved by the court in November of the previous year. Celsius had initially planned to distribute over $3 billion in assets. Out of 372,000 eligible creditors, 68% have received distributions.