Celsius launches the third round of 220.6 million asset distribution, with creditors having received a total repayment of 64.9%.

The bankrupt platform is finally taking real action, distributing money to creditors, which brings back some confidence, but the total debt is still substantial.

Referring to the FTX incident, the industry cleanup is still ongoing.

I think Celsius is taking a steady approach; a 64.9% repayment rate is good, but the crypto winter has just passed, and creditors shouldn't rush to sell.

In the future, if stablecoins become buyers of U.S. Treasuries, liquidity will improve, and holdings should wait for a rebound.