• Celsius is shutting down its app within 90 days.
• The company plans to provide creditors with significant recoveries in Bitcoin.
• The projected distribution amount is approximately $2.03 billion.

Celsius, the bankrupt pioneering crypto lending platform, recently released its revised disclosure statement, revealing its plan to shut down its app within 90 days. The move comes as part of the company’s broader efforts to streamline its operations, optimize distribution mechanics, and enhance the overall user experience.

In the statement, Celsius outlined its plans to provide creditors with significant recoveries in cryptocurrency. In particular, the company intends to distribute liquid cryptocurrency, including Bitcoin (BTC) and Ethereum (ETH), to eligible creditors. The projected distribution amount is approximately $2.03 billion, subject to potential fluctuations in BTC and ETH values.

Meanwhile, the decision to shut down the Celsius App after 90 days is driven by various factors, primarily t…

The post Celsius App to Shut Down, Firm Identifies PayPal for BTC Distribution appeared first on Coin Edition.

• Celsius is shutting down its app within 90 days.
• The company plans to provide creditors with significant recoveries in Bitcoin.
• The projected distribution amount is approximately $2.03 billion.

Celsius, the bankrupt pioneering crypto lending platform, recently released its revised disclosure statement, revealing its plan to shut down its app within 90 days. The move comes as part of the company’s broader efforts to streamline its operations, optimize distribution mechanics, and enhance the overall user experience.

In the statement, Celsius outlined its plans to provide creditors with significant recoveries in cryptocurrency. In particular, the company intends to distribute liquid cryptocurrency, including Bitcoin (BTC) and Ethereum (ETH), to eligible creditors. The projected distribution amount is approximately $2.03 billion, subject to potential fluctuations in BTC and ETH values.

Meanwhile, the decision to shut down the Celsius App after 90 days is driven by various factors, primarily t…

The post Celsius App to Shut Down, Firm Identifies PayPal for BTC Distribution appeared first on Coin Edition.