Following its successful emergence from Chapter 11 bankruptcy in the United States, Celsius is now ready to distribute $3 billion worth of cryptocurrencies and fiat to its creditors.
Additionally, the company has announced the launch of Ionic Digital, Inc., a Bitcoin mining firm managed by Hut 8 and headed by their Chief Commercial Officer, Matt Prusak.
Celsius states that Ionic Digital will continue making payments to creditors and will eventually become a publicly traded stock once approvals are received.
The majority of Celsius’s creditors have agreed to the bankruptcy exit plan, after a period of 18 months since withdrawals were paused in June 2020 and bankruptcy was filed one month later.
To increase the amount available for distribution, Celsius converted altcoins to Bitcoin or Ethereum and settled previous claims.
