DeFi Daily News
Tuesday, July 1, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Crypto Market

rewrite this title Celsius initiates second payout of $127 million, enhancing creditor returns to 60.4%

Oluwapelumi Adejumo by Oluwapelumi Adejumo
November 28, 2024
in Crypto Market
0 0
0
rewrite this title Celsius initiates second payout of 7 million, enhancing creditor returns to 60.4%
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1200 words and keep HTML tags

Bankrupt crypto lender Celsius has announced the second round of payments to creditors.

According to a Nov. 27 court filing, this phase involves the distribution of $127 million in assets that will cover 2.75% of total creditor claims.

The payout follows an earlier round in August, which returned $2.53 billion to 251,000 creditors, representing 57.65% of claims.

With this new distribution, the total payout reaches 60.4% of eligible claims. The firm stated:

“As a result of the Second Distribution, each Eligible Creditor will receive a cumulative distribution in Cash or Liquid Cryptocurrency equal to approximately 60.4% of the value of such creditor’s Claims as of the Petition Date.”

Distribution details

According to the court filing, creditors will receive their payments in Bitcoin or US dollar cash based on their eligibility.

Those who previously received crypto payments will continue to accept Bitcoin, while cash recipients will be paid similarly. Celsius plans to use the same distribution agents as before whenever possible to streamline the process.

The company specified that creditors wishing to receive Bitcoin must have a verified Coinbase account linked to their Celsius records. It stated:

“As per the Coinbase Agreement, after Nov 9, 2024, non-corporate creditors who still have not received their Celsius distribution via Coinbase will automatically be rerouted to a US dollar (USD) distribution partner instead.”

Meanwhile, Bitcoin payouts will depend on its market value. If the price falls below $95,836, creditors may receive less than 2.75% of their claims, while a higher price will result in increased payouts.

A Celsius-focused account on X explained that creditors unable to accept crypto will have their Bitcoin equivalent sold at market rates, with proceeds delivered as US Dollars through various payment methods, including wire transfers, PayPal, and Venmo.

This development arrives as former Celsius CEO Alex Mashinsky is scheduled to face trial on Jan. 28, 2025, with a pre-trial hearing set for Jan. 16. Notably, a federal court recently denied his request to dismiss fraud charges related to the company’s collapse.

Mentioned in this article

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: celsiuscreditorEnhancingInitiatesMillionPayoutreturnsrewritetitle
ShareTweetShare
Previous Post

rewrite this title ‘God Candle’ Loading for One Ethereum Rival, Says Analyst – Here’s His Outlook – The Daily Hodl

Next Post

rewrite this title Ethan Nwaneri: Inside the rise of Arsenal’s star-in-waiting

Next Post
rewrite this title Ethan Nwaneri: Inside the rise of Arsenal’s star-in-waiting

rewrite this title Ethan Nwaneri: Inside the rise of Arsenal's star-in-waiting

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Mastering Crypto Mining: A Step-By-Step Guide

Mastering Crypto Mining: A Step-By-Step Guide

September 12, 2024
rewrite this title Figma discloses M Bitcoin exposure via Bitwise ETF in IPO filing, plans another M buy

rewrite this title Figma discloses $70M Bitcoin exposure via Bitwise ETF in IPO filing, plans another $30M buy

July 1, 2025
rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

July 1, 2025
rewrite this title X opens up to Community Notes written by AI bots

rewrite this title X opens up to Community Notes written by AI bots

July 1, 2025
rewrite this title Bitcoin dips to 5k on Q3 open despite record monthly close

rewrite this title Bitcoin dips to $105k on Q3 open despite record monthly close

July 1, 2025
rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

July 1, 2025
rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

July 1, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.