07-02-2022 icon

BnkToTheFuture unveils manifesto to liberate Celsius from market blackout

By Lucy Adegbe

BnkToTheFuture has proposed three ways, two of which will assist in Celsius’ reorganization and reopening, and the last which generates the idea of co-investment in the company with a ton of large crypto investors.

According to a Thursday tweet by BnkToTheFuture CEO Simon Dixon, his company which plays a vital investment role in lending platform Celsius has designed three propositions that would save Celsius from in-depth liquidation, as well as other investors whose reserves are caught in the middle of this fix. 

The proposition entails the options of setting up an effective reorganization and reopening plan or approving an investment strategy with affluent crypto whales.

“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 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.”

Dixon had previously highlighted Celsius’ need for “financial innovation” which replicates an allocation of a valuation debt relic similar to the Bitfinex style in 2016.

While BnkToTheFuture broadcast a proposal that seems to be the better way out of bankruptcy, Celsius followed up with a blog post assuring the public that it is sourcing out the fastest, yet most effective means to avert the challenges that led it to halt transactions since June 13.

FTX has reportedly retreated from its formulated contract to acquire Celsius after a $2 billion gap was discovered in the firm’s record.