An investment platform, Bnk To The Future, that seeks for financially innovative products to invest in, is the lead investor in Celsius Network. CEO Simon Dixon has announced a recovery plan following the recent suspension of withdrawals at Celsius.
Dixon, a Celsius shareholder, and Bitcoin evangelist oversaw the recovery plan for both the Celsius and Bnk to the Future investor communities.
His statement did not include specifics about the recovery plan presented to Celsius’ board of directors and CEO Alex Mashinsky.
The CEO referred to the 2011 Mt. Gox collapse and the 2016 Bitfinex hack.
Also Read: Bitfinex Hackers that Stole $4.5 Billion worth Bitcoins Arrested in Manhattan
“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.”
He stated that the recovery plan would be similar to the one proposed to Bitfinex, which he claims was resolved in nine months because they “executed a recovery that involved security tokens, debt, and equity and gave investors a very high return for the high risk they took.”
The Bnk to the Future co-founder also confirmed that Celsius accounts for a “small portion” of his total wealth. However, he insists that it will have no financial impact on Bnk To The Future.
He also stated that he is more concerned for community members who may have a chance of preserving a larger percentage of their wealth through a recovery plus risk management education.
Also Read: Celsius Users Fear Liquidations of Collaterals Amid Transfer Freeze
“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, licenses, and technology to do so.”
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