Posted 11/10/2023, 12:31:00 PM
Celsius Reorganization Plan Approved, Majority of Assets to be Returned to Customers and Creditors
- Celsius bankruptcy reorganization plan approved by court, implementation expected by early 2024
- Creditors voted to approve plan returning 67-85% of holdings back to them
- Customers with funds tied up in Celsius to get back about $0.25 per CEL token
- Celsius to return about $2 billion in cryptocurrency to account holders
- New company NewCo to be created, focused on mining and staking with $1.25 billion balance sheet