- The CEO of BnkToTheFuture Capital said Celsius Network LLC reached out to them for help regarding their current predicament.
- They have therefore issued three recovery plans for Celsius.
- BnkToTheFuture has also completed a similar disaster recovery offering for Bitfinex in 2016.
Simon Dixon, the CEO of BnkToTheFuture Capital, said Celsius Network has reached out to them for help regarding the crypto lender’s current predicament.
BnkToTheFuture Capital is a global online investment platform that brings financial innovation and technology investment opportunities to investors. They are also a major shareholder holder with Celsius.
BnkToTheFuture Capital puts forward three proposals as recovery plans for the Celsius Network. On their website, BnkToTheFuture created a web form “to hear from the Celsius community” before calling for a Celsius shareholder meeting.
They propose restructuring and relaunching Celsius to allow depositors to benefit from any recovery through financial engineering. They noted that the process “involves risks and full recovery of funds is not guaranteed.”
Proposal two was a pool of the most influential whales in Bitcoin to co-invest with the community. They also claimed they had completed a similar disaster recovery offering for Bitfinex in 2016.
The third proposal was an operational plan that allows a new entity to rebuild and make depositors whole. But the process “involves risks, and full recovery of funds is not guaranteed,” they added.
The Celsius community may join the conversation on Twitter via the hashtag #DepositorsFirst.
BnkToTheFuture Capital also highlighted three approaches they have taken so far. According to them, they have silently given the strategies to Celsius TradFi advisors to execute with a timeline on how fast it should happen.
They also offered to implement the plan on their behalf externally. However, Celsius wanted them to work internally with their team. They objected because “acting independently is more likely to produce a better result for depositors and shareholders,” they said.
