Celsius to Distribute $127M in Second Round of Payouts to Creditors

Celsius has announced a $127 million distribution from its Litigation Recovery Account as part of its second round of payouts. Eligible creditors in classes 2, 5, 7, 8, and 9 will receive payments in BTC or USD.

Celsius Prepares $127M Distribution for Creditors: Details Revealed

Amid ongoing recovery efforts following its financial collapse, Celsius Network has unveiled plans to distribute $127 million in a second round of payouts from its Litigation Recovery Account. This initiative aims to provide partial reimbursement to eligible creditors, signaling progress in the platform’s efforts to resolve outstanding claims.

Who Is Eligible for the Payouts?

The upcoming distribution will benefit creditors in specific categories, referred to as “classes.” These include classes 2, 5, 7, 8, and 9, which encompass different types of claims tied to Celsius accounts or investments.

If you are a member of one of these creditor classes, Celsius or its legal team will contact you directly with details about your eligibility and payout options.

Payment Options: BTC or USD

Creditors can choose to receive their payout in either Bitcoin (BTC) or USD, based on their preference and earlier filings.

• BTC Option: A digital asset akin to receiving compensation in modern “digital gold.”
• USD Option: A straightforward cash payout for creditors seeking simplicity.

Timeline and Distribution Details

While the exact timeline for the payouts has not yet been confirmed, Celsius has secured the $127 million earmarked for this second round of distributions. This ensures the funds are ready and waiting to be disbursed as the process progresses.

Creditors are advised to stay updated through official communications from Celsius for precise payout dates and further instructions.

A Step Toward Financial Recovery

This payout marks a significant milestone in Celsius’ ongoing efforts to make amends with its creditors. The second distribution follows the initial phase of reimbursements, providing hope to those affected by the platform’s earlier financial turmoil.

For many, this represents a long-awaited opportunity to recover part of their lost investments. Celsius’ commitment to this process demonstrates that even in challenging circumstances, steps can be taken toward restoring trust and financial stability.

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