BnkToTheFuture Unveils 3 Proposals as Part of Celsius Recovery Plan

Celsius’ lead investor BnkToTheFuture has outlined three proposals to save the troubled crypto company from going bankrupt. On Friday, CEO of BkToTheFuture Simon Dixon shared three new proposals which include the options of restructuring and relaunching Celsius to allow depositors to benefit from any recovery through financial engineering, or potentially co-investing in the platform alongside a pool of the most influential whales. Another possible option is to settle for an operational plan that allows a new entity and team to rebuild and make depositors whole. #DepositorsFirst Celsius Recovery Plan https://t.co/YkGy3N0Gwd — Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) June 30, 2022 “Proposal #1: A restructuring to relaunch Celsius and allow depositors to benefit from any recovery through financial engineering. Proposal #2: A pool of the most influential whales in Bitcoin to co-invest with the community. Proposal #3: An operational plan that allows a new entity and team to rebuild and make depositors whole.” Celsius Exploring All Options In a blog post from June 30, Celsius stated that it was exploring all the options available to stabilize liquidity and operations. The company said it was “working with experts” from different fields in these “exhaustive explorations.” “These exhaustive explorations are complex and take time, but we want the community to know that our teams are working with experts from many different disciplines,” the blog post read. Users of Celsius have been unable to withdraw tokens from the platform after June 13 when the platform halted all withdrawals over liquidity concerns. Rumors are also circulating over the fact that the company’s management has been debating with lawyers over whether the business should file for bankruptcy.

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