Celsius begins distributing over $3 billion in crypto and fiat to creditors

Celsius announced that the company has completed the transaction and emerged from bankruptcy under a confirmed restructuring plan. The plan includes the distribution of more than $3 billion in cryptocurrency and fiat currencies to Celsius creditors, as well as the creation of a new Bitcoin mining company, Ionic Digital, Inc., which will be owned by Celsius creditors and have mining managed by mining company Hut 8 business. As of today, the company has begun distributing more than $3 billion in liquid cryptocurrency and fiat currency to creditors, and Ionic Digital will continue to provide recovery to creditors. Ionic Digital's shares are expected to become publicly traded once the necessary approvals are obtained. Ionic Digital will be owned by Celsius' creditors, who will hold equity interests in Ionic Digital in the form of common shares. (BusinessWire)