Celsius Payout Moves Forward With $476 Million Allocation for Creditors

The post Celsius Payout Moves Forward With $476 Million Allocation for Creditors appeared first on Coinpedia Fintech News

The Celsius bankruptcy case continues to evolve, and the latest update brings a much-needed boost of optimism for creditors who have been waiting months for the next payout. According to CelsiusFactsNumbers, an account that closely follows the case, the estate now holds a substantial amount of money ready for distribution. This follows years of court proceedings, asset sales, and earlier payout rounds meant to gradually return funds to former Celsius customers.

A Clear Breakdown of the New Funds

Celsius now has $476 million available for its next creditor distribution. This represents 9.5% of total claims, making it the largest payout round to date. The estate currently holds $531 million in net assets after receiving a major payment from Tether. Out of this amount, $55 million has been set aside to continue closing down operations, leaving $476 million ready to be sent to creditors.

This marks a sharp increase from the previous distribution of $220 million, which accounted for 4.5% of claims. In short, creditors are set to receive more than twice the amount they received in the last round.

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In addition, there is a separate pool of $579 million that is still pending. These funds are tied to disputes, unclaimed accounts, or distributions that failed to reach some recipients. Once resolved, these funds could support future payout rounds.

Community Response

The update immediately sparked discussion among crypto users following the case. One user asked whether this could be the final payout, but the analyst clarified that at least two more rounds are expected after the upcoming fourth distribution.

Another user noted earlier rumors of a December payout. The analyst confirmed that creditors are still waiting for that timeline. The conversation also corrected a misconception about the size of the previous distribution. While some believed the last payout was $330 million, the actual figure was $220 million.

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FAQs

When is the next Celsius creditor payout expected?

The next payout is expected soon, with $476M prepared for distribution once final processing is completed.

Is Celsius Network still in business?

No, Celsius is no longer operating. The company is in bankruptcy wind-down and focused only on distributing assets.

Why did Celsius get in trouble?

Celsius faced liquidity problems, risky asset management, and regulatory issues, which led to its collapse and bankruptcy filing.