Celsius creditors expect to recover 67% to 85% of assets and will vote on the "plan to sell assets to the Fahrenheit consortium."

ChainCatcher news, the judge approved a statement disclosed by Celsius on Thursday, and creditors are expected to recover 67%-85% of their assets, and will also vote on its plan to sell assets to the Fahrenheit consortium.

In addition, interim CEO Chris Ferraro stated in an email statement that under Chapter 11 proceedings, "we remain focused on creating the best outcomes for our customers and creditors and returning asset value as quickly as possible," a process that began in July 2022 and is overseen by New York Bankruptcy Judge Martin Glenn.

Creditors will vote on the plan between August 24 and September 22, which involves selling assets to the Fahrenheit consortium. Court documents show that creditor returns may range from 67% for Earn account holders to 85.6% for Celsius lending program participants, primarily realized in the form of BTC and ETH, while the return rate from asset liquidation is only 47%.