Wednesday, July 24, 2024

BnkToTheFuture presents three solutions to save Celsius from extinction.

Simon Dixon, CEO of BnkToTheFuture, on Thursday proposed three solutions to prevent bankruptcy of Celsius. The solutions outline how to save this platform without damaging the interests of depositors and shareholders. He presented the solutions through his Twitter account.

The first proposal plans relaunching or restructuring Celsius to let depositors benefit from the recovery made with financial engineering. The second proposal outlines creating a collection of influential whales. It encourages them to invest along with this platform’s community. The third plan proposes establishing a new team and entity to rebuild the platform and help depositors.

The financial innovation Dixon referred is proposed for Celsius. It is similar to issuing equity tokens for the debt as it was done in 2016 for Bitfinex. Those tokens represent $1 debt for each token. The goal is to maintain the value shareholders have by making depositors whole. According to this latest announcement, a meeting of shareholders will be called that Celsius board cannot ignore. The capital SPC of this platform holds more than 5% of shares, giving it the right to call the shareholder meeting.

BnkToTheFuture suggested applying pressure on the company after Celsius and its stakeholder advisers receive these proposals. According to it, the time is running out due to a lack of concrete action plan. Dixon had expressed the same views in an interview to Digital Assets News. According to him, the plan must move fast, otherwise more FUD, bad PR and predatory offers will come out. These issues can arise when the community no longer believes in the original vision set for the platform.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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