Celsius Network, a crypto lender that collapsed in July 2022, is distributing $127 million to eligible creditors in its second payout under bankruptcy proceedings. This distribution brings the total recovery rate for creditors to 60.4% of eligible claims. The distribution consists primarily of liquid crypto assets, with funds converted to Bitcoin at an average price of $95,836.23 per BTC. The payout covers various creditor classes, and cash distributions are being made to those who opted out of crypto payments or encountered logistical issues in the first round. Former CEO Alex Mashinsky is scheduled to face a jury trial beginning on January 28, 2025.



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