Sunday, December 3, 2023

In the midst of a community-led short-squeeze attempt, a Celsius recovery strategy has been presented.

BnkToTheFuture, the lead investor in Celsius and Simon Dixon, the co-founder have stepped up with plans to assist this network. The plan is to use a plan like the financial innovation they used back in 2016 to save Bitfinex from being liquidated. Bitfinex is a crypto exchange which faced difficult times.

Per the statement issued by Dixon, there were no details on the recovery plan send to the board of Celsius. This statement was issued on Saturday to Alex Mashinsky, Celsuis’ CEO. The only information made available in the statement was that it would be like the proposal issued to Bitfinex after it got hacked in 2016 August. According to Dixon, he didn’t think that traditional financing options would present an in-time solution for Celsius. He thinks that the problem needs an innovative financial solution like the one used to help Bitfinex. Bitfinex problems were sorted out in 9 months and in the depositors’ favor.

Since Dixon is a lender and shareholder in Celsius, he was keen to help Celsius in any way he could, with a good plan for recovery. He also referred to the impact on Bitcoin owners, after BTC prices dropped due to market volatility. It was his job to offer good solutions as they have the necessary tools – licenses, technology and experience to do so.

BnkToTheFuture is an investment platform with a worldwide online presence. This platform lets investors to put their funds in technology companies, finance related funds and new alternative products. According to information published by the platform, it is said to have over 80,000 investors.

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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