After the collapse in July 2022, Celsius Network is making its second payment under bankruptcy proceedings, distributing $127 million to eligible creditors. The latest distribution raises the total recovery rate to 60.4% of the eligible claim amount, which is based on the first payment in January 2024, when about 57.65% of eligible claims were paid in the form of liquid encryption assets or cash. The second payment is mainly composed of liquid encryption assets, with funds converted to BTC at an average price of $95,836.23 to match the claim value. Payments cover various categories of creditors, including retail deposit claims, general income claims, and unsecured loan claims. Former Celsius Network CEO Alex Mashinsky will hold a pre-trial conference on January 16, 2025, and will begin accepting jury trials on January 28, 2025.