Celsius begins the second distribution of $127 million to qualified creditors.

According to court documents, Celsius Network is distributing $127 million to qualified creditors in its second payment under bankruptcy proceedings after its collapse in July 2022. The latest allocation has increased the overall recovery rate to 60.4% of the eligible claims, which is based on the first payment in January 2024, when approximately 57.65% of the eligible claims were paid in the form of liquid encryption assets or cash. The second distribution is mainly composed of liquid encryption assets, and the funds are converted to BTC at an average price of $95,836.23 to match the claim value. Payment covers various types of creditors, including retail deposit claims, general income claims, and unsecured loan claims. Former Celsius Network CEO Alex Mashinsky will hold a pretrial conference on January 16, 2025, and will begin trial by jury on January 28, 2025.