Hey there, crypto enthusiasts! Get ready for some juicy news from the world of digital currencies. Celsius, the now-bankrupt crypto lending firm, is back in the spotlight with a plan to sprinkle a hefty $127 million among its creditors. And guess what? This isn't your average bank transfer. We're talking payouts via PayPal, Venmo, or Coinbase, with Bitcoin priced at an eye-popping $95,836.23!
So, who's in line for this windfall? The lucky recipients fall into specific categories, such as retail borrower deposit claims, general earn claims, withhold claims, unsecured loan claims, and general unsecured claims. If you're on this list, expect your share in Bitcoin or good ol' cash, depending on your eligibility. For the tech-savvy, PayPal, Venmo, and Coinbase await your confirmed accounts. If not, it's cash for you!
The first payout round saw Celsius returning a whopping $2.53 billion to 251,000 creditors, covering 57.65% of total claims. This second wave aims to hit 60.4% of eligible claims. But not everyone is thrilled. Some creditors are grumbling about what they see as meager returns. One ex-Celsius customer took to social media, bemoaning a six-figure shortfall even after the payout. Another investor, JCH, shared a heart-wrenching tale of losing 8 BTC, which would've made them a millionaire today. They didn't mince words, calling the payout “peanuts.”
Remember the Celsius saga? It all went downhill in 2022, leading to the arrest of former CEO Alex Mashinsky in July 2023. Charged with fraud for allegedly misleading depositors, Mashinsky's day in court is set for January 28, 2025, with a pre-trial hearing on January 16. Judge John Koeltl recently put the kibosh on Mashinsky's attempt to dismiss the fraud charges, calling the legal team's arguments moot or meritless. Seven counts stand tall as Mashinsky gears up for his trial.
Stay tuned for more updates on this rollercoaster of a story!
