The bankrupt cryptocurrency lending platform Celsius recently released a revised disclosure statement, revealing its plan to close its application within 90 days.In the statement, Celsius outlined its plan to provide cryptocurrency compensation to creditors. Its plan includes distributing liquid cryptocurrencies, including BTC and ETH, to eligible creditors. Due to potential price fluctuations, the expected distribution amount is approximately $2.03 billion.

Meanwhile, the decision to close the Celsius application after 90 days is driven by multiple factors, primarily the cost of keeping the platform open for withdrawals over an extended period.

In addition, to effectively manage the process, Celsius has chosen to work with third-party distribution agents and has identified PayPal as a potential agent for distributing to individual US creditors. For other distributions, Celsius is actively seeking other agents. If suitable agents cannot be found, Celsius will keep its platform open for 90 days after the effective date to facilitate distribution to specific creditors.