“Celsius Debt Repayment Program in Progress! Over 2 Billion MGA Cryptocurrencies Distributed to Creditors”

"Celsius Debt Repayment Program in Progress! Over 2 Billion MGA Cryptocurrencies Distributed to Creditors"

"Celsius Debt Repayment Program in Progress! Over 2 Billion MGA Cryptocurrencies Distributed to Creditors"

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Celsius Distributes Cryptocurrency Claims
in Cash and Stocks
According to court documents submitted by the bankrupt cryptocurrency lending firm Celsius on Friday, the restructuring team has distributed the majority of cryptocurrency debts owed to its creditors. As previously reported, the company commenced this process at the end of January, with plans to distribute a total of $3 billion worth of Bitcoin and Ether to its creditors.
In an update submitted to the court on Thursday by the company’s law firm, Kirkland & Ellis, it was stated:
“Through the BTC and ETH distribution plan conducted via PayPal/Venmo and Coinbase, approximately 75% of the funds have been distributed.”
According to the document, Celsius has distributed $2 billion worth of cryptocurrency, transferring 20,255.66 BTC and 301,338.77 ETH to 171,672 creditors. (Due to Taiwan no longer being within the supported service range of Coinbase, cash payments may be used as an alternative. Those encountering issues in the claims process can seek assistance from Celsius customer service through the following link.)
For eligible overseas creditors who qualify for cash distribution but reside in jurisdictions where bank checks are not supported, the debt claims will be transferred via wire transfer. The document stated:
“Debtors after the effective date have received numerous communications from creditors who are concerned about their inability to deposit checks from U.S. banks within their own jurisdictions. Debtors after the effective date believe that the option of wire transfer will help resolve most of these issues.”
Additionally, it should be noted that eligible creditors who are entitled to receive shares in the newly created mining company using the remaining assets of Celsius will receive relevant email notifications from transfer agent Odyssey Transfer and Trust Company.