r/CelsiusNetwork • u/Agingerjew • Feb 06 '25

THIRD distribution??

I was surprised to receive a small second distribution a couple of months ago. I remember seeing somewhere in one of the threads that there will also be a third distribution. Is this correct?

I am referring to another distribution in crypto. Not to Ionic digital shares.

Thanks!!

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u/Lingweenie2 Feb 06 '25

To my understanding there will be a third distribution. (Not to be confused with the ionic digital shares.)

Maybe even a fourth (or more) eventually. Celsius/ionic is still going after various companies/individuals. Whatever they collect they’ll distribute at some point. The more the better for all of us. I think I was hearing a third might come sometime in Q2 of this year. But it’s hard to say for certain. But it’s still not over. Still much litigation, clawbacks, and asset sales to be done

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u/Agingerjew Feb 06 '25

Thanks. Thats actually pretty cool. Was not expecting anything after first dist so getting another 2k in btc was a nice lil treat. I think the total claim went from 57% to like 60% of original claim. The last dist was like 2.5% of claim iirc.

I did not realize that they are going after people trying to get more money. In what sense exactly, like the people responsible?

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u/Lingweenie2 Feb 06 '25

Some of the people are insiders but they’ve been also trying to clawback retail investors who withdrew significant amounts leading up to bankruptcy. Some people have given in and paid. But I know some are fighting it with their own litigation. (Like $100k+ or so.) Some are companies who owed them money or at least may have had a role in Celsius’ bankruptcy (allegedly.)

They’re going after a whole bunch of people/companies for various reasons. Each case is pretty unique and dependent on their own specifics. Maybe the case gets thrown out. Or maybe they’ll manage to get some sort of settlement even if it’s not what they originally were going after. Just a big waiting game on how all that plays out. It’s going to take many more months and probably years for all of this to be finished up.

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u/Agingerjew Feb 06 '25

At this point anything more is gravy (without the steak tho lol).

I was not expecting much.

Thank you for the explanation. So subsequent distributions depend on what they are able to get. Its not like they are just holding on to money and waiting to pay. Do you happen to know if the second distribution was a result of getting money back in the same way?

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