- Celsius raised $20.46 million from 1039 investors in June 2020.
- Dixon’s organization came up with a solution that saved consumers approx $72M.
BnkToTheFuture and its co-founder Сајмон Диксон have volunteered to help целзиусови by applying the same “financial innovation” utilized in 2016 to preserve cryptocurrency exchange Bitfinex from insolvency.
A recovery plan presented to Celsius’ board, and CEO Алекс Машински was not specifically mentioned in Dixon’s speech on Saturday. Still, Dixon indicated it would be similar to Bitfinex’s strategy following its theft in August 2016, which he says was handled in nine months.
Dixon stated:
„Верувам дека традиционалните финансии нема да имаат навремено решение за Целзиусов, како што видовме во минатото со планината Гокс, која сè уште останува нерешена 10 години подоцна. Верувам дека ова може да се реши само со решение со помош на финансиски иновации како што направивме со Bitfinex што беше решено во рок од 9 месеци и работеше многу добро за штедачите“.
Creative Recovery Strategy
On the BnkToTheFuture platform, investors may invest in financial technology firms, funds, and other innovative financial products being developed worldwide. Over 85,000 eligible investors are listed on the site. Celsius raised $20.46 million from 1039 investors in June 2020 via an equity offering made through the investing platform.
After Bitfinex reported a cybersecurity incident that resulted in the loss of around 120,000 Bitcoin (BTC), Dixon’s organization came up with a solution that saved consumers approximately $72 million at the time.
As an alternative to going through with a liquidation, Bitfinex devised a creative recovery strategy that entailed making “promises to repay” to clients in the form of BFX tokens, which represented the value of the money that had been stolen. Coins could be exchanged or stored for future payment of $1.00 for each token, which enabled users to bet on the company’s recovery.
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Source: https://thenewscrypto.com/bnktothefuture-co-founder-simon-dixon-lends-support-to-drowning-celsius/