The creditors' committee of crypto lending platform Celsius Network has approved NovaWulf Digital Management's proposal to settle the debt. It is assumed that customers with deposits of less than $5,000 will get 70% of their funds back.
Users with high volume requirements will reportedly be able to receive tokenized shares in the new company run by NovaWulf. Notably, the assets can be traded through a broker registered on the Provenance platform.
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The statement reads:
"While the committee will consider all options until a plan is confirmed and has become effective, the committee also believes that the NovaWulf Transaction is the best, actionable alternative at this time."
According to court documents, Celsius has received nine takeover offers and 40 statements of interest in a potential deal.
NovaWulf plans to invest between $45 million and $55 million in the platform and add new products such as payment cards, merchant finance and wealth management services.