The bankruptcy administrator of Celsius has distributed over 2.53 billion US dollars to approximately 251,000 creditors

PANews reported on August 27, according to CoinDesk, the bankruptcy administrator of Celsius stated in its first repayment status report that it has distributed more than $2.53 billion to approximately 251,000 creditors. This amount was paid in liquid cryptocurrencies and cash based on the price as of January 16. The bankruptcy administrator stated in court documents on Monday that these funds covered about two-thirds of the eligible creditors (by number) and about 93% of the eligible value for cryptocurrency lending company. There are still another 121,000 qualified creditors with an average distribution quota of around $1,500 who have not successfully claimed their allocation.

The document states: "Among these remaining creditors, approximately 64,000 people's distribution is less than $100 and about 41,000 people's distribution is between $100 and $1,000. Given that many of these creditors' distributions are small they may not have enough motivation to take steps necessary to successfully claim their allocations."

The plan involves distributing MiningCo’s (a new company evolved from Celsius) liquid cryptocurrencies, cash and common shares to approximately 375,000 creditors from165 different countries. The document states that due to "Celsius was not a fully compliant company before bankruptcy; many regulatory agencies are taking enforcement actions against debtors," which increases the complexity of the allocation process.