Bnk To The Future Unveils Three Proposals to Save Celsius from Oblivion

Dejan Cvetnarevic
Dejan Cvetnarevic

Updated · Jul 01, 2022

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Celsius is facing some massive challenges, and its lead investor, Bnk To The Future, has come up with three proposals to save it from bankruptcy.

Finding a Good Solution

Earlier this month, one of the world’s largest crypto lenders, Celsius, announced it is pausing all withdrawals, transfers, and swaps. Now, a company’s lead investor, Bnk To The Future, is trying to find a good outcome for shareholders and depositors who have their funds stuck on the platform.

The global online investment leader outlined three proposals to save the company from bankruptcy. Bnk To The Future CEO Simon Dixon shared the propositions on Twitter. Two options include restructuring and relaunching Celsius, while the third involves co-investments from Bitcoin whales.

Here is how Bnk To The Future describes each proposal:

  • “Proposition #1: A restructuring to relaunch Celsius and allow depositors to benefit from any recovery through financial engineering.”
  • “Proposition #2: A pool of the most influential whales in Bitcoin to co-invest with the community.”
  • “Proposition #3: An operational plan that allows a new entity and team to rebuild and make depositors whole.”

The company stated that it could not guarantee the full recovery of funds as these moves also involve some risk.

Bnk To The Future also suggested that it has presented these proposals to Celsius and now has growing concerts with the lack of a specific action plan from the firm.

Celsius is facing a major crisis. The company was previously accused of being partly responsible for Terra’s collapse, and Terra 2.0 had to be launched. Soon after, it had to freeze all transactions on its platform. Users have been unable to withdraw assets since June 13.

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Dejan Cvetnarevic

Dejan Cvetnarevic

Dejan is a techie at heart who always dreamed of turning his fascination with gaming into a career. He finds working for TechJury a perfect opportunity to express his views of all kinds of different software. Being an avid reader, particularly of fantasy and sci-fi, Dejan pursued a degree in English Language and Literature. When not at his computer, he’s watching sports or playing tabletop games.

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