1) People keep asking me when @CelsiusNetwork creditors will get their money back. My best guess. In the next 2 months there may be liquidity where you can sell your claim on an exchange if you’re willing to accept 25% of your claim in $USD & it may take a further month to arrive
2) I believe in 6 months from now you may be able to settle with @CelsiusNetwork & receive 50% paid in crypto, but it could go through several rounds of objections on how to pay it in-kind & you may get paid in 9 months at best.
3) I don’t believe crypto long can happen compliantly & will be objected by regulators for another 3-6 months causing delays so in 9 months the @CelsiusUcc, creditors & court may accept crypto in-kind plus equity or cash topup if another bidder can demonstrate compliance.
4) If they accept cash buyer it may give you a maximum of 10% extra in $USD on top of your 50% crypto in-kind 9 months from now as the @CelsiusNetwork hole is so big. My best guess is this happens if a cash buyer is willing to pay $300m of the potential $3bn in missing crypto.
5) If they accept equity in 9 months then in 2-3 years that company may go public or have a secondary market on @BankToTheFuture & either be worth little, make you whole on a secondary market or produce a very large high risk, high return for you through an IPO with a 10x goal.
6) This is all speculation based upon my experience being involved in most of the major recovery plans & being a shareholder in over 100 companies in crypto over the last decade. I could be completely wrong.
7) It’s not legal or financial advice. I am one of the top creditors myself. I’m a shareholder in @CelsiusNetwork & my company @BankToTheFuture will be submitting a recovery plan that involves crypto in-kind plus equity. Feel free to discount my tweets as pushing self-interest.
8) I’m trying to set this up where my self-interest is aligned with your self-interest so if I do well, you do well as a fellow creditor in line with the original #DepositorsFirat campaign I launched before anybody believed me when I said Celsius will go bankrupt with a huge hole
9) #NDA will prevent me discussing non-public information on @CelsiusNetwork after this tweet. I hope my speculative timeline & forecasts help you prepare. If you follow me here or subscribe to my YouTube channel I will keep giving public information updates.
11) If you want me to read your ideas personally that help the @BankToTheFuture team & I to submit better recovery plans use the link below. We’re in this together & I’m here to get the best for my claim & bring you with me bnktothefuture.co/celsius
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The US Trustee assigned to oversee #Celsius bankruptcy case filed an objection yesterday (9 August 22) seeking to challenge the company’s motions for court approval to sell its mined bitcoin “in ordinary course” and make “de minimis” asset transfers.
The objection argues that Celsius incorrectly characterized its motions as “in the ordinary course” and “de minimis,” since there is nothing ordinary about them.
Through its bitcoin motion, the debtor seeks “broad authority” to monetize its bitcoin, the US Trustee said, but has failed to provide transparency into its business activities or its crypto holdings.
People ask me how I invest all the time? 3 buckets - Spending, Saving & Investing. I spend Stablecoins convertible to fiat. I save Digital Hard Sound Money - #Bitcoin. I invest small % in POS $ETH, debt, equity & securities (DeFi & CeFi for high risk, high returns)
I also have a portfolio in traditional markets ready for inflation, deflation, economic growth, economic decline, bank failure, war, pandemic, financial crisis & a future of bigger governments powered by Central Bank Digital Currencies so I’m calm whatever happens.
I expect my #Bitcoin savings to outperform my traditional portfolio long term & #BTC is a mission to better the world. I expect my crypto securities to blow up frequently or outperform hopefully increasing my #Bitcoin savings. It’s more stress than saving in #Bitcoin but also fun
To give you an idea so you can plan for @CelsiusNetwork here is a summary of the time line for @investvoyager - this could take longer for @CelsiusNetwork though as there is a lot more alleged fraud to chew through. Please prepare to not have access to any funds this year.
26 August (12 noon EST) - Bid deadline - final deadline for submissison of binding bids
1/4 “Voluntary early liquidity” of @investvoyager plan by @FTX_Official is (IMO deliberately) misleading. It’s not an “early liquidity” proposal, and it’s not voluntary.
2/4 The proposal is to buy all crypto assets of @investvoyager (loans and all, EXCEPT for the 3 Arrows Loan). Then customers can take their pro rata share of the cash, and have it show up in an @FTX_Official account (or not – this is the only part that’s voluntary for customers)
3/4 If they don’t, then they’ll get a cash distribution in the bankruptcy. In other words, Alameda/FTX are looking to buy all of the crypto assets and liquidate customers to cash – offering to let them rebuy crypto on FTX.
1/ People keep asking me as a #Bitcoin guy why I want to action a free market solution for @CelsiusNetwork- I’m a depositor with a small portion of my total wealth lent - it’s worth tens of millions. I’ll be fine whatever happens, but other people depend on those deposits.
2/ @BankToTheFuture has shares worth $170m. If depositors are not made good I believe those shares maybe worthless & I don’t believe TradFi will be able to deliver the best outcome for depositors.
3/ There is a huge difference between a free market solution and a government bailout using taxpayers money. I want to execute a free market solution to prevent financial loss for those that depend on those deposits whilst our economy inflates away into a depression.
1/ Here is what to do if you are losing lots of money. I’ve been deep in debt & 100% financially free no matter if we get inflation, deflation, growth or depression. When you lose money, especially hard money, it hurts, but it might be exactly what you needed to become wealthy…
2/ Cut losses - it’s hard to know when to cut in crypto. If in doubt, I convert to #Bitcoin as I believe in digital hard sound money & future highs. If you don’t believe, lock in losses, use tax benefit & live in fiat. Remember, fiat is inflating away & trading rarely helps
3/ Keep winners - you know when you invested just to get rich quick. Study behavioural finance & check if you are holding onto conviction or one of the common psychological biases that leads to bad decisions. Keep what you believe will be a winner long term.