Celsius' $125 million Ethereum transfer is an attempt to bring creditors closer to timely distributions.
Celsius Network will move forward with its restructuring plan more than one year after filing for Chapter 11 bankruptcy.
Will Celsius be the first successful rebirth of a failed crypto platform, overcoming legal troubles and harsh developments?
Cohen, a mathematician and biologist, verified Celsius Network's fair value as creditors approved $2B Bitcoin and Ethereum return.
The vast majority of Celsius creditors have voted in favor of the firm's restructuring plan.
While Celsius Network's founder, Alex Mashinsky, remains untainted, executive Cohen-Pavon has admitted guilt.
Celsius Network reportedly owes $4.7 billion to over 100,000 creditors.
Coinbase Prime users have supposedly invested $57 million in the new lending program so far.
Prime Trust became the latest crypto-related organization to file for Chapter 11 bankruptcy protection.
The Israel-based GK8 was initially acquired by Celsius for $115 million in 2021.