According to a court filing submitted Wednesday, Celsius, the defunct crypto lender, is distributing $127 million to eligible creditors in a second payout from its bankruptcy proceedings.
“As a result of the second distribution, each eligible creditor will receive a cumulative distribution in cash or liquid cryptocurrency equal to approximately 60.4% of the value of such creditor’s Claims as of the Petition Date,” the filing said. The value of bitcoin for payout is set at a weighted average distribution price of $95,836.23.
The filing added that eligible creditors who cannot receive liquid cryptocurrency through the designated distribution agent will be directed to receive the payout in cash.
In January this year, the Celsius bankruptcy plan administrators launched its first payout of $2 billion worth of cryptocurrencies to 171,672 creditors, which saw a recovery rate of 57.65% of eligible claims.
Celsius filed for bankruptcy in 2022 after a $1.2 billion hole was discovered in its balance sheet. The company emerged from bankruptcy in November.
Last year, Celsius and former CEO Alex Mashinsky were sued by the Securities and Exchange Commission, the Federal Trade Commission and the Commodity Futures Trading Commission for allegedly misleading customers. Mashinsky was also charged with fraud and faces a maximum prison sentence of 115 years.
Earlier this month, a U.S. district judge rejected Mashinsky’s request to dismiss two fraud charges from his indictment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
