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News Explorer — Celsius Starts Repaying Creditors With $3 Billion in Cryptocurrency and Fiat

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Feb 1, 5:47 am
Unchained Crypto

Celsius Starts Repaying Creditors With $3 Billion in Cryptocurrency and Fiat

Crypto lending firm Celsius has emerged from bankruptcy and is now paying out creditors after completing transactions under its reorganization plan. The plan involves distributing $3 billion worth of cryptocurrency and fiat to creditors, with Celsius converting altcoins to Bitcoin and Ethereum to increase the amount available. The company has also been making high-value deposits to crypto exchanges, potentially through over-the-counter deals. Additionally, Celsius has created a new Bitcoin mining company called Ionic Digital, which will be managed by Hut 8 and owned by creditors.

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