Simon Dixon from BankToTheFuture proposed a plan for the crypto lending platform Celsius to recover from this state.
Celsius is a crypto lending platform, which provides crypto investors to earn an extra yield on their holdings and also allows them to take loans on behalf of their holdings. Around 6 days ago, Celsius stopped withdrawal and trade services for the users because of the unavailability of sufficient liquidity. Due to extreme market conditions, Celsius fell under leverage to collapse the market.
Simon Dixon, CEO of BnkToTheFuture, proposed a solution for the Celsius platform to sustain its operations perfectly to maintain the trust level among the users.
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. I believe that this can only be solved with a solution using financial innovation https://t.co/FyF1Qaw6ZE
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— Simon Dixon (Beware Impersonators) (@SimonDixonTwitt) June 19, 2022
According to Simon, if we will not work against the problems then problems will remain unsolved. For example, the Mt.Gox exchange case is unsolved even after 10 years.
Simon said that he is one of the investors in Celsius and also huge numbers of his company investors are holding shares in Celsius, so he wants to help Celsius.
BnkToTheFuture co-founder said that Celsius CEO worked with other crypto leaders to solve the problems and he will also solve this situation.
Further, he added:
“It’s a bottom-up movement and I have always used bottom-up solutions to recover from disasters in our sector.”
Simon said that he worked for huge numbers of companies to recover them under critical situations and also helped Bitfinex crypto exchange in 2016.
He said that BnkToTheFuture helped and supported Bitfinex with the best possible solutions.
“(BnkToTheFuture) supported them and executed a recovery that involved security tokens, debt, and equity and gave investors a very high return for the high risk they took.”
However, here BnkToTheFuture extended its hand to help the Celsius platform but didn’t shared its plan publicly. These things are showing that the Celsius platform needs help and probably financial support at this moment can bring better solutions for it.
Read also: Shark Tank star Kevin says Wipeout of the crypto firm gives you a good bottom
BnkToTheFuture CEO suggests a recovery plan for Celsius
https://bitcoinik.com/bnktothefuture-ceo-suggests-a-recovery-plan-for-celsius/feed/
https://bitcoinik.com/bnktothefuture-ceo-suggests-a-recovery-plan-for-celsius/feed/
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