Celsius proposes to reorganize AST tokens to allocate asset shares to creditors who lock in more than a certain threshold, allowing holding for dividends or selling

According to CoinDesk, a lawyer representing crypto lending platform Celsius said that Celsius is planning to rebrand itself as a new publicly traded "recovery corporation" to exit bankruptcy proceedings. Under the newly announced plan (which has not yet been approved by the U.S. Office of the Trustee or other regulators), creditors who have locked up assets above a certain threshold will receive a token, called the Asset Share Token (AST), that reflects their the value of the asset. AST holders will either be able to hold their tokens (which will entitle them to dividends over time), or sell them on the open market.