Altss Research / Venture case 03
Celsius Network
Celsius announced a private financing valuation above $3bn in October 2021. In January 2024, it said it had implemented its Chapter 11 plan and would wind down its operations. The plan also created the separate creditor-owned mining company Ionic Digital.
Altss Research · Evidence reviewed · Historical event record
Historical private valuation
>$3bnCompany-announced private financing valuation exceeding $3bn; use lower-bound display, not an exact $3bn or unsourced $3.25bn.
Shutdown
No sale priceMobile and web applications shut down. Celsius’s distribution administrator records closure of the mobile and web applications. This followed implementation of the Chapter 11 plan and an announced orderly operational wind-down; creditor distributions continued separately.
These figures have different valuation bases and dates. Their difference is not a measure of investor losses. Methodology ↗
The documented timeline
Private funding valuation disclosed
Company-announced private financing valuation exceeding $3bn; use lower-bound display, not an exact $3bn or unsourced $3.25bn.
Plan implemented; wind-down announced
Completed reorganization transactions and announced orderly operational wind-down; mining business placed in new creditor-owned Ionic Digital.
Celsius mobile and web applications shut down
Claims distributions are separate from former lending-platform operations.
Source documents
Publication and access dates identify the evidence used for this case.
Celsius via PR Newswire · Primary source · Published Oct 12, 2021 · Accessed Oct 26, 2026
Celsius Network LLC via Business Wire · Primary source · Published Jan 31, 2024 · Accessed Oct 26, 2026
Celsius Distributions / court-appointed claims administrator Stretto · Primary source · Published Apr 28, 2025 · Accessed Oct 26, 2026