The Court Has Authorized the Distribution of Flare Tokens to Qualified Celsius Accounts

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Last Updated on January 25, 2023 by Bitfinsider

Eligible Celsius account users will now be able to receive an airdrop of the Flare network’s token (FLR).

According to a court order filed on Jan. 24, Chief Bankruptcy Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York ordered Celsius to credit qualified account holders with the Flare tokens to which they are entitled.

The Flare network is a blockchain and oracle provider at Layer 1. The blockchain dispersed Flare tokens earlier this month to anybody who had one or more XRP tokens at a December 2020 snapshot. XRP holders have been waiting for this payout for nearly two years.

Holders of XRP in Celsius accounts were also scheduled to receive the airdrop due to a grant distribution arrangement between Celsius and the Flare network. However, Celsius filed for Chapter 11 bankruptcy in the United States in July and so required court clearance to award the tokens.

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