Celsius Network LLC and preferred shareholders have settled their bankruptcy fight. Celsius will pay $25 million to the shareholders, ending one of the longest-running fights in the Chapter 11 case of the crypto firm.

The settlement comes after months of legal wrangling over the payment priority the investors should receive. Celsius argued that the shareholders should be treated as unsecured creditors, while the shareholders argued that they should be treated as secured creditors.

The settlement provides a measure of certainty for both Celsius and the shareholders. It also clears a major hurdle for Celsius as it seeks to emerge from bankruptcy.

The settlement was approved by US Bankruptcy Judge Martin Glenn on Tuesday. Under the terms of the settlement, Celsius will pay $25 million to the shareholders in cash. The shareholders will also receive a 5% stake in Celsius when it emerges from bankruptcy.

The settlement is a victory for Celsius, which was facing a potential $600 million payment to the shareholders if it had lost the case. The settlement also provides a measure of relief for the shareholders, who will now receive some compensation for their investment in Celsius.

The bankruptcy of Celsius has been a major blow to the cryptocurrency industry. Celsius was one of the largest cryptocurrency lending platforms, and its collapse has shaken confidence in the entire space.

The settlement provides Celsius with some breathing room and allows the company to focus on its restructuring efforts. If Celsius is able to emerge from bankruptcy, it will be a major step towards restoring trust in the cryptocurrency industry.