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Simon Dixon, co-founder of online investment platform BankToTheFuture, has proposed a recovery plan for Celsius Network, a lending service similar to Bitfinex’s recovery after the 2016 hack. As
Simon Dixon, co-founder of online investment platform BankToTheFuture, has proposed a recovery plan for Celsius Network, a lending service similar to Bitfinex’s recovery after the 2016 hack.
As we have seen in the past with Mt, I believe traditional finance will not have a timely solution for Celsius. Gox, still unresolved 10 years later. I believe this can only be solved with a solution using financial innovation https://t.co/FyF1Qaw6ZE
— Simon Dixon (Beware of Copycats) (@SimonDixonTwitt) 19 June 2022
“Since 2011, I’ve seen Mt.Gox crash the market, then the ICO, and now the market is crashing because of leverage. We offered innovative solutions using new technologies in every cycle. Celsius and CEO Alex Mashinsky formed a community to share their journeys on a weekly basis. “I hope our industry finds the right solution, as it always does when financial innovation goes wrong,” said Dixon.
He recalled that BnkToTheFuture’s plan to restore Bitfinex includes the issuance of security tokens, debt financing and the use of equity. According to him, investors then received “a very high return for the high risk they took.”
Dixon did not disclose the details of the Celsius offer:
“I don’t need to disclose information before Alex. [Машинский] and the Celsius council will be ready. I have to find a solution because we have the experience, licenses and technology to do it.”
According to him, traditional finance “will not have a timely solution for Celsius”, as can be seen from the example of the Mt. The CEO of BnkToTheFuture emphasized with Bitfinex that the plan is working in nine months.
“Our industry is getting stronger after every disaster. “Now is the time to offer the bottom-up support we’ve always followed,” Dixon said.
He noted that the possible collapse of Celsius would not affect BnkToTheFuture’s financial condition, but would affect the 1,039 investors who invested money in the company through it.
Recall that Georgetown University law professor Adam Levitin described Celsius’ bankruptcy as almost inevitable.
According to media reports, prominent investors of the crypto lending platform have refused to provide additional funding to it.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
