Express
Celsius Distributes $2.5 Billion to 251,000 Creditors Amid Bankruptcy
Summary: Celsius has distributed approximately $2.5 billion to 251,000 creditors as part of its ongoing bankruptcy proceedings. This payout represents 84% of the $3 billion owed to over 375,000 creditors, according to an August 26 court filing. Despite this progress, over 121,000 creditors have yet to claim their funds, with many owed less than $1,000. The ...
Celsius has distributed approximately $2.5 billion to 251,000 creditors as part of its ongoing bankruptcy proceedings. This payout represents 84% of the $3 billion owed to over 375,000 creditors, according to an August 26 court filing.
Despite this progress, over 121,000 creditors have yet to claim their funds, with many owed less than $1,000. The bankruptcy administrator plans to retry distributions via Coinbase every two weeks, with PayPal claim codes remaining redeemable.
Celsius filed for bankruptcy in July 2022 after halting user withdrawals. The company has since settled with U.S. regulatory agencies, while former CEO Alex Mashinsky faces charges of financial fraud.
Tags: Alex Mashinsky,Celsius,Paypal
Link: Celsius Distributes $2.5 Billion to 251,000 Creditors Amid Bankruptcy [Copy]
