Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»Chelsea distributed $2 billion in cryptocurrency to creditors, court documents show.
ADOPTION NEWS

Chelsea distributed $2 billion in cryptocurrency to creditors, court documents show.

By Crypto FlexsFebruary 16, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Chelsea distributed  billion in cryptocurrency to creditors, court documents show.
Share
Facebook Twitter LinkedIn Pinterest Email

Celsius, a cryptocurrency lender that filed for bankruptcy in 2022, said in court documents filed Friday that it has distributed most of the cryptocurrency it owes to creditors. Celsius has previously said it began the process in late January and plans to distribute $3 billion worth of cryptocurrency.

“Almost 75% BTC

+0.33%
/ ETH

-1.05%
It will be distributed through PayPal/Venmo and has already been collected through Coinbase,” said the company’s law firm, Kirkland & Ellis. An update was received from the court on Thursday.

According to the document, Celsius distributed $2 billion worth of cryptocurrency, transferring 20,255.66 BTC and 301,338.77 ETH to 171,672 creditors.

cash and stocks

The estate will send wire transfers to foreign creditors who are eligible for cash distributions but are based in jurisdictions where bank checks are not used.

“We have received numerous communications from creditors concerned that post-effective date debtors are unable to deposit checks from U.S. banks in their jurisdiction, and post-effective date debtors believe that the wire transfer option will help resolve most issues. .these concerns,” the document states.

The filing also states that creditors entitled to shares in a new mining company formed using Chelsea’s remaining assets will receive an email from Odyssey Transfer and Trust Company, the transfer agent.

Former Celsius users who withdrew from the platform during the 90 days leading up to the bankruptcy were reminded that they must return a portion of the funds they withdrew before their claims were distributed.

Celsius filed for bankruptcy in 2022 after discovering a $1.2 billion hole in its balance sheet. The company escaped bankruptcy last November.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Why MKR falls against ETH every time MakerDAO is sold

April 22, 2024

Slasher: A punitive proof-of-stake algorithm

June 21, 2024

Hong Kong ETF opens ‘doors’ for Chinese RMB holders, issuers say

April 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.