Top Highlights

• Bankrupt crypto lender Celsius has now reimbursed around two-thirds of its creditors, approximately 93% of the eligible money owed.
• According to the recent court filing, the company has now distributed $2.53 billion to over 251,000 creditors since the repayment plan kicked off in January 2024.
• Celsius, which declared bankruptcy in July 2022, allowed users to receive interest on crypto deposits. At the company's peak, it claimed to have had 1.7 million users with $25 billion in assets under management and an $8 billion loan book.
• After a series of lengthy legal disputes, where users were locked out of accessing their crypto for more than a year, a plan was approved to reimburse former users in November 2023.
• The plan approved by a Delaware bankruptcy court involved the creation of a new firm, called NewCo, backed by $450 million in seed funding.

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