TechFlow reported, according to The Block, that the majority of creditors affected by Celsius' bankruptcy have voted to approve a restructuring plan, with over 98% in favor. Under the plan, debtors will distribute to creditors approximately $2 billion worth of Bitcoin and Ethereum, along with equity in a new company (NewCo). The plan has received support from the Official Committee of Unsecured Creditors. The U.S. Bankruptcy Court for the Southern District of New York will hear the case at a hearing scheduled for October 2 and rule on final approval. NewCo will inherit Celsius' business operations and be managed by Fahrenheit Group, which won the auction for Celsius' assets in May this year.
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