Looks like they're settings the stage for the litigation trust. If you want to get in trouble with your significant other read this on Valentines Day inserts of being romantic. ❤️
One of the valuable assets for creditors is the personal wealth of the insiders. Here is how they unjustly enriched themselves using our funds & what they want to come after.
Exhibit A at the end of the doc goes through all the preferential withdrawals they've identified for each insider
This is what “better than a bank” risk modelling looks like 👍
2021 was like 2017 - you made money no matter what you invested in. Every professional crypto fund manager made abnormal returns. #Celsius lost $1.2bn. That’s an incredible achievement.
$CEL Rewards for an unprofitable year. Sounds like the bankers bonuses using government bailout money after the global financial crisis. “Banks are not your friends.”
Buy high. Sell low. The Mashinsky Method. Coming to a book store near you soon.
Abort ship. The signs of great leadership.
ICO sold to 1.343 unaccredited investors even though they relied upon the accredited investor exemption. I did not know that one.
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#CELSIUS HEARING LIVE: #SEC making their appearance for the record. K&E giving an update on disclosure statement objections. UST & debtors will move objections to confirmation statements. Earn Ad Hoc amended reservation of rights. K&E say $CEL should not be a disclosure issue.
#CELSIUS HEARING LIVE: @FahrenheitHldg needs $5m expenses covered & requesting approval today. No objection. Ferraro's declaration was admitted as evidence. @CelsiusUcc supports the plan and wants to start soliciting the plan. Discussing governance requests by Earn Ad Hoc
@FahrenheitHldg @CelsiusUcc #CELSIUS HEARING LIVE: @CelsiusUcc is commuting to a board with Earn Ad Hoc members & members of #UCC - no decisions made yet. UCC commuting to a fair board selection process. UCC confirming Toggle is an emergency backup transaction only, not a new plan. Earn & Loan Ad Hoc will… twitter.com/i/web/status/1…
OK. Had some time to read the #SEC charges against #Binance.
First, I believe they are trying to get ahead of any issues rather than waiting for the issues to cause a blow up like FTX / Celsius. SEC has learnt from mistakes. I’m not staying Binance will blow up as they probably… twitter.com/i/web/status/1…
ALLEGATION:
Binance publicly claimed that U.S. customers were restricted from transacting on Binance dot com, Zhao & Binance in reality subverted their own controls to secretly allow high-value U.S. customers to continue trading on the Binance dot com platform.
The SEC alleges that, while Zhao and Binance publicly claimed that #Binance US was created as a separate, independent trading platform for U.S. investors, Zhao and Binance secretly controlled the Binance US platform’s operations behind the scenes.
Joint agreement between Celsius/@CelsiusUcc to have W&C/UCC pursue & litigate the constructive fraudulent transfer/conveyance and similar claims held by LLC against CNL. All to push towards setting what creditors & shareholders own cases.stretto.com/public/x191/11…
TL:DR Pre #Celsius Chapter 11 Court Hearing Updates:
Ignat Tuganov, via counsel, has concerns related to the UCC @CelsiusUcc being the representative for the class claim motion. He wants more specifics related to amount of, voting rights related to, and possible settlement conditions for the class claim. He is concerned about the… twitter.com/i/web/status/1…
The UCCs omnibus reply to the other parties regarding their class claim motion. They largely reiterate and expand on their previous reasonings for the class claim, countering the series B preferred objections along the way. They have also included language in the proposed order… twitter.com/i/web/status/1…