Celsius Network emerges from bankruptcy, commencing $3bn distribution of cryptocurrency, fiat currency, and Ionic Digital stock to creditors, following court approval of its reorganization plan.

Celsius Network, a cryptocurrency lender, has officially emerged from bankruptcy, marking the end of an 18-month restructuring process. The company plans to repay up to $3 billion (in liquid cryptocurrency, fiat, and Ionic Digital stock) to its creditors. This follows the approval of the company's reorganization plan by the Bankruptcy Court for the Southern District of New York on November 9, 2023, and received overwhelming support from approximately 98% of Celsius' account holders.

February 01, 2024
23 Articles