Celsius Network received permission to receive Flare tokens

A New York court has ruled that it is allowing the struggling Celsius Network to receive Flare tokens. Now the clients of the exchange have the opportunity to become owners of these tokens. The cryptocurrency asset will have to go to the accounts of clients who hold XRP. Owning Ripple is a must for people who want to be in the target audience of the 4,280,000,000 Flare token airdrop.

Initially, the distribution of tokens was supposed to take place in 2020, however this process was delayed for a couple of years due to various problems, including the situation with the financial insolvency of the crypto lender. Now, Martin Glenn, who is handling the Celsius Network bankruptcy case, has revealed that XRP holders can get their legitimate Flare tokens.

This week, 15% of the planned amount has already been distributed. Over the next three years, the rest of the tokens will be distributed. Given the unstable position of Celsius, it is not yet clear how the site's customers are going to get Flare.

At the moment, the cost of one FLR is $0.035. Over the past 24 hours, traders have traded for $14,000,000. The capitalization of the token is $386,500,000. The Flare developers last year entered into an agreement with the Algorand Foundation, in which they pledged to build a cross-chain bridge that will connect the Algorand blockchain and the Bitcoin ecosystem through the Flare cross-chain protocols.