🌋 Celsius's Bankruptcy Saga Approaches its Final Chapter
posted 1 Feb 2024
The bankrupt crypto company Celsius has announced the conclusion of its bankruptcy proceedings. They are set to begin distributing over $3 billion in both crypto and fiat currency to their creditors.
Celsius has augmented the pool of cryptocurrency available for disbursement by roughly $250 million. This increase was primarily facilitated by converting various altcoins into BTC or ETH, coupled with earlier settlements.
Additionally, under the MiningCo Transaction, a new mining company named Ionic Digital has been established to continue the process of reimbursing creditors. The company will be owned by Celsius’ creditors and will be managed by Hut 8 Corp.
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