Celsius Pays $2B in Crypto to Creditors Amid Legal Woes

Bankrupt crypto platform Celsius has allocated $2 billion worth of cryptocurrency to its creditors, following its emergence from bankruptcy proceedings. The distribution, conducted through PayPal and Coinbase, includes 20,255.66 Bitcoin and 301,338.77 Ether. The company's founder, Alex Mashinsky, faces criminal charges while the SEC and CFTC have filed civil charges. The settlement with the FTC requires Celsius to pay a $4.7 billion fine. The events highlight the need for transparency and regulatory compliance in the cryptocurrency industry, potentially impacting investor confidence and prices.