Crypto lender Celsius’ exit from bankruptcy follows over 18 months after it halted withdrawals and collapsed in 2022.
Celsius has emerged from Chapter 11 bankruptcy in the United States and is set to start distributing $3 billion worth of crypto and fiat to creditors, along with launching a new Bitcoin mining firm.
In a Jan. 31 press release, the crypto lender said its bankruptcy exit sees the creation of Ionic Digital, a Bitcoin (BTC) mining company managed by Hut 8 and headed by Hut 8 chief commercial officer Matt Prusak.
Celsius said Ionic Digitial will “continue to deliver recoveries to creditors,” and its stock is “expected to be publicly traded once the requisite approvals are received.”
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Source: https://cointelegraph.com/news/celsius-exits-bankruptcy-return-3b-creditors-ionic-digital