Celsius Recovery Plan – A Statement From Simon Dixon And Bnk To The Future

Celsius Recovery Plan – A Statement From Simon Dixon And Bnk To The Future

At Bnk To The Future, we have 1,039 of our investors that own shares in the Celsius Network SPV. Our CEO and Co-Founder, Simon Dixon, drafted a message for both the Celsius community and our investor community in light of the recent suspension of withdrawals at Celsius:

“Since 2011 I’ve seen Mt. Gox collapse the market, ICOs collapse the market and now leverage collapse the market. In each cycle we innovate solutions using new technologies. Celsius and their CEO Alex Mashinsky have been live every week sharing their journey and building a community. I hope he will find the right solution like our industry always has when financial innovation goes wrong. It’s a bottom up movement and I have always used bottom up solutions to recover from disasters in our sector. 

As a Celsius shareholder, lender and Bitcoin evangelist and due to the short-term systemic impact on those that own Bitcoin, I am keen to support Celsius with a recovery plan. As one of the first investors in Bitcoin companies I have worked with many of them in their times of need. In 2016, Bitfinex needed a plan to recover from their hack and the company I co-founded, BnkToTheFuture.com, supported them and executed a recovery that involved security tokens, debt and equity and gave investors a very high return for the high risk they took. 

I commit to supporting Celsius in any way that is useful. They have built a community that believes in bottom up and we have a platform and experienced team that can help Celsius bottom up. 

It will be a hit for a small portion of my total wealth that I have lent out through Celsius if they go down, but it will not impact my finances or Bnk To The Future in any meaningful way. I am more concerned for community members that may have a chance at preserving a larger percentage of their wealth through a recovery plus an education in risk management. 

I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved 10 years later. I believe that this can only be solved with a solution using financial innovation like we did with Bitfinex that was resolved within 9 months and worked out very well for depositors. It’s not my place to reveal information before Alex and the Celsius board are ready, it’s my position to offer solutions as we have the experience, licences and technology to do so. Our industry has come back stronger from every disaster and now is the time for us to offer support in a bottom up way in compliance with the regulations we have always followed” 

Simon Dixon,
CEO & Co-Founder BnkToTheFuture.com

For more updates, please follow Simon Dixon on Twitter: https://twitter.com/SimonDixonTwitt

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