Celsius NetworkPrice

(CEL)

Since the project emerged from bankruptcy on January 31, 2024, distributions have been processed through designated third-party payment platforms and global cryptocurrency exchanges. Creditors should have received claim codes or specific instructions via email from the official claims administrator, Stretto. It is essential to ensure that the email address used for these third-party accounts matches the one associated with the original project account to facilitate a smooth transfer of funds.

For creditors located in restricted jurisdictions or those unable to use the primary designated exchanges and payment services, distributions are generally handled in cash. This is typically processed via physical checks or bank wires through international payment partners. Creditors in this situation should monitor their official correspondence for specific instructions on how to provide their details to receive these fiat payments.

The Convenience Class refers to creditors whose total claims were valued at a specific threshold, typically $5,000 or less. These individuals were eligible for a one-time distribution of a set percentage of their claim value in Bitcoin and Ethereum. Unlike larger claim holders, members of the Convenience Class do not receive equity or stock in the newly formed Bitcoin mining entity, Ionic Digital. This simplified payout was designed to expedite the recovery process for the majority of smaller account holders.

The CEL token has lost its original utility, which previously included features like interest rate bonuses and loan discounts. As part of the bankruptcy exit plan executed in May 2024, the estate burned approximately 94% of the total CEL supply, effectively removing over 650 million tokens from circulation. While the token may still be discussed in speculative contexts, its original purpose within the ecosystem no longer exists, and its valuation for bankruptcy claims was fixed by the court during the proceedings.

Ionic Digital is a new Bitcoin mining company formed as part of the reorganization plan to provide additional value to creditors. Eligible creditors, primarily those with larger claims, were issued shares through a specific transfer agent. While the company has filed documentation to eventually list its stock on public equity markets, the shares remain private and illiquid until the registration process is finalized and approved by regulatory bodies. Creditors can view their holdings through the official portal provided by the transfer agent.

The former CEO was sentenced to 12 years in prison in May 2025 after pleading guilty to fraud charges related to misleading customers and market manipulation. Regarding the platform, the mobile and web applications were officially shut down on February 29, 2024. All ongoing claim management, distribution updates, and support are now handled exclusively through the official Stretto portal. Users are warned to remain vigilant against phishing attempts and only trust official communication channels.