One of the popular cryptocurrency giants that was destroyed by the 2022 crash was Celsius had happened. His story was truly an example. After a long legal process, customer refunds began at the beginning of this year. So how many of the Celsius receivables have already been paid? What is the current balance? Here are the details.
Celsius Returns
After going bankrupt CEL Token price It fell rapidly and was delisted from many popular cryptocurrency exchanges. It still finds buyers at a price of $0.15. Although it exceeded $2 again during this year’s rise, it returned to prices below $0.2 with the sales of investors who were convinced that the platform would not start operating again. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
On-chain made by Arkham examination says that 93% of the receivables have been refunded. In the final assessment, on-chain experts wrote;
“According to its latest court filing, Celsius Network has now distributed over $2.5 billion, or 93% of eligible funds, to over 250,000 individual creditors.
“Celsius began distributing over $3 billion in assets to creditors in January of this year and now appears to hold only $5 million in crypto.”
The fact that the company is making refunds via blockchain once again shows the transparency aspect of crypto.
CEL Coin and Celsius
The company’s CEO predicted a decline in early 2022, but then predicted a recovery for a bigger peak. He took control by cutting off all analysts’ authority and engaged in risky transactions with investors’ loaned balances. Like 3AC founder Zhu Su, he also expected a supercycle in 2022.
However, things did not go as expected. LUNAR The crypto credit story that had been the backdrop for the 2021 bull market collapsed after its bankruptcy and subsequent blow to 3AC, which saw its risk-taking lenders go bankrupt. Celsius also went bankrupt after both the market crash and the venture capitalists it lent to went belly-up.
Behind CEL Coin price has fallen steadily. This example showed us what kind of problems crypto companies that were considered extremely reliable at the time and promised investors “risk-free” high returns could face.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
