Celsius Network has announced its plan to distribute $127 million in its second phase of payouts to creditors as part of its bankruptcy proceedings. This money represents approximately 2.75% of total creditor claims filed with the court. The focus now shifts to how this distribution will affect creditor sentiments and the overall recovery process of the bankrupt crypto lender. Observers anticipate that these payouts could set a precedent for other cryptocurrency firms undergoing financial difficulties. As Celsius moves forward, it will continue to navigate the complexities of bankruptcy while seeking solutions for its stakeholders.