Celsius Creditors Recover $2.53 Billion in Cash and Crypto Distribution

Celsius has successfully disbursed over $2.53 billion to approximately 251,000 creditors, according to a recent report from the bankruptcy administrator.

This payout represents roughly two-thirds of eligible creditors, accounting for nearly 93% of the total amount owed, as per a court filing on Monday. The funds were distributed in a combination of cryptocurrency and cash, based on valuations from January 16.

Despite this significant progress, around 121,000 eligible creditors, each with an average claim of approximately $1,500, have not yet received their payouts. Among these, about 64,000 individuals are owed less than $100 each, while another 41,000 are awaiting sums between $100 and $1,000.

In addition, approximately 12,000 creditors are still awaiting their share from the bankruptcy proceedings. The delays stem from two main issues: some claims are being withheld, and others lack crucial account information, according to the administrator.

Rapid Progress in Celsius Creditor Distributions After January Payouts The distribution of funds to creditors has proceeded quickly since the payouts began in January.

Within just two weeks, 65% of the total amount, equivalent to $1.7 billion, had been successfully distributed. A month later, nearly 80%, or approximately $2 billion, had been disbursed.

Celsius Completes $3B Distribution as Bankruptcy Reorganization Nears Completion Earlier this year, Celsius announced its exit from Chapter 11 bankruptcy, finalizing its reorganization strategy. This included distributing over $3 billion in both cryptocurrency and cash to its creditors.

The most recent payments demonstrate that the majority of distributions have been completed, bringing the bankruptcy proceedings close to conclusion as outlined in the court-approved reorganization plan.