Cryptocurrency lending company Celsius’s unsecured creditors official committee stated on X platform on Friday (12th) that, according to court documents, Celsius debtors have updated common questions about debt repayment allocation and will provide more information weekly before the effective date. According to Celsius’s updated FAQ, the company will pay debts to creditors residing in the United States via PayPal, and to creditors outside the United States via the Coinbase exchange (as long as Coinbase supports that country). Celsius’s cryptocurrency repayments are expected to begin shortly after the planned effective date on January 31, with MiningCo’s equity distribution also expected to take place simultaneously. Celsius further explained that if creditors reside in countries listed on Celsius’s FAQ page, the company will attempt to repay these creditors via Coinbase, so creditors should create a Coinbase account that matches their Celsius account information. If creditors are unable to receive distributions through Coinbase for any reason, Celsius will distribute repayments to these creditors in USD. While Taiwan is included in Celsius’s list (which may be subject to change), Taiwanese users may not be able to complete their creditor claims through the above methods as Taiwan is no longer within the service range of Coinbase exchange. For creditors with restricted/blocked Coinbase accounts, Celsius stated:
Related reports: “Celsius creditors beware! Users who withdraw over 100,000 euros within 90 days before bankruptcy will face ‘Clawback'” and “Judge approves Celsius’s shift to establish a Bitcoin mining enterprise restructuring plan”