Celsius Lead Investor Proposes Recovery Plan for Network

2022-6-20 15:00

One of Celsius Network’s earliest investors has proposed a recovery plan to help the beleaguered company. Details will be revealed when the board is ready.

Simon Dixon, the founder of Web3 investment firm Bnk to the Future, published a statement talking about “a solution using financial innovation” to resolve the problem.

I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved 10 years later. I believe that this can only be solved with a solution using financial innovation https://t.co/FyF1Qaw6ZE

— Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) June 19, 2022

While details on the recovery plan are scant, Dixon is optimistic that Celsius Network could be saved in a way similar to how Bitfinex was in 2016. 

Dixon talks about how security tokens, debt, and equity were used to pull Bitfinex out of liquidation. He says that he personally invested in Celsius as well.

“As a Celsius shareholder, lender and Bitcoin evangelist and due to the short-term systemic impact on those that own Bitcoin… In 2016, Bitfinex needed a plan to recover from their hack and the company I co-founded, BnkToTheFuture.com, supported them and executed a recovery that involved security tokens, debt, and equity and gave investors a very high return for the high risk they took,” he said.

Dixon is more concerned about the community members who may have invested a large portion of their capital, which obviously would have affected them worse. He is aiming to help community members through their recovery as well as education in risk management.

Dixon is the CEO and co-founder of Bnk to the Future. He is well known for being an investor in fintech companies, and Bnk to the Future lets users invest in fintech companies, funds, and alternative financial products.

Celsius still in deep water

The fall of Celsius Network is one of the market’s biggest developments in recent years, and the market crash has been particularly damaging to the platform. The market cap sank to $290 million, and after this, it had to suspend all withdrawals.

Nansen even said that the collapse of the Celsius Network was partly responsible for the collapse of Terra. Celsius has had to hire insolvency experts as it expects to carry out financial restructuring. At the same time, a crypto influencer has launched a class-action lawsuit against Celsius.

It is not just Celsius that is affected. Babel Finance has also paused withdrawals as the market experienced one of its worst retractions.

The post Celsius Lead Investor Proposes Recovery Plan for Network appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Recovery Right Tokens (RRT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 RRT

recovery network celsius plan investor lead proposes

recovery network → Результатов: 67


Poly Network восстановил $611 млн, похищенные в результате взлома

Разработчики межсетевого протокола Poly Network отчитались о полном восстановлении украденных в ходе недавней атаки активов на сумму $611 млн. Yay! #PolyNetwork has completed the recovery of all #PolyNetworkExploit affected user assets.

2021-8-27 15:46


Команда Poly Network рассказала об этапах восстановления и возмещении средств

Разработчики межсетевого протокола Poly Network опубликовали дорожную карту по возврату средств клиентам, пострадавшим в результате недавнего взлома. With the aim of ensuring complete, safe, and smooth asset recovery, we would like to briefly share #PolyNetwork 's roadmap for resuming operations and fully recovering user assets in the next phase.

2021-8-14 20:09