According to Bloomberg, crypto lending company Celsius Network LLC has obtained approval from a bankruptcy court judge to transform into a creditor-owned Bitcoin mining company, redistributing approximately $2 billion worth of Bitcoin and Ethereum along with NewCo's equity to Celsius creditors. Celsius lawyers said the platform could begin distributing assets early next year. The company said the transformation plan must also be approved by the SEC, and if the proposal fails, Celsius may turn to liquidation.