I hope this dude gets the book thrown at him in the courtroom. FU and your mere puffery. You and your wife will get what you deserve.
#karmaisabitch
I do feel sorry for your children. ๐
#Celsius
creditors
The debtors have filed a FAQ about distributions. Please take the time to read through, itโs only 12 pages and answers quite a few questions that have been floating around.
So apparently
#VanEck
is the other potential bidder for
#Celsius
.
I honestly dngaf who gets us out of this mess with the most funds returned back to us in the foreseeable future.
April 12 ๐บ
April 17 - Other bidders
LFG๐
โผ๏ธCeLsius Creditorsโผ๏ธ
Judge Glenn approves the modification. ๐ฅณ
Hopefully this means January liquid distributions. We still need to wait on the SEC for our shares to be liquid.
Happy Anniversary to
#Celsius
creditors. What a year it has been.
I want to say Thank You to the community for helping us process what happened and for the many Spaces throughout the year that helped creditors understand they are not alone.
@DefiDon_eth
@SimonDixonTwitt
James is an influencer I trusted above all others and just felt he was genuine. I call him out about Celsius influencer clawbacks and he blocks me. Never disrespected or slandered him in any other way. This tells me a lot about his character. ๐คทโโ๏ธ
Keep shilling punkโฆโ๏ธ
1 - I only started being proactive on Twitter after this Celsius debacle. Prior to this, I was a typical user scrolling through peopleโs tweets and moving on. Right after Celsius paused, I started following people that I thought were part of or had some insideโฆ
@WatcherGuru
SBF didnโt lie though, he said he only had $100k left in the bank. He never said anything about the amount of crypto he still has. The question is whether he accumulated his crypto honestly or his he cashing out stolen property?
Why are you holding back the information regarding Earnโs immediate liquid settlement %
This is your biggest ticket item, you know it and you also know the range %โs. How hard is it to put those figures into this filed summary?
I hope April 12 is the day.
#NoMoreExtensions
Earlier tonight, Celsius filed the plan of reorganization for the NovaWulf deal. The disclosure statement will be filed on April 12. In the interim, you can review a summary of the plan and certain key next steps filed along with the plan.
Iโm happy to see that the majority of
#Celsians
are now on board with the Bitfinex solution proposed by
@SimonDixonTwitt
in JUNE 2022. Basically, tokenize your claim (security) and be able to sell the claim tokens on specific exchanges or hold it for a potential upside.
@TtangNyom
Happy Sunday Funday!
Letโs hope today is the
#last
Sunday that
#Celsius
creditors are in the dark about an effective date and distribution amounts. ๐ค๐ค
Have an awesome day! โ๏ธโค๏ธ๐
@CelsiusUcc
@Silkee_D
@ThomasADiFiore
Happy Wednesday! Just another reminder that the
#Celsius
creditors would love to hear from you and let us know if we are on track for January distributions or if there is any material information that should be disclosed to us.
Thank you!
Login to the
#Celsius
app and cast your vote.
Thereโs no need to rush and also no need to wait. (You can update your
#ballot
up until the deadline)
Personally Iโm going
#default
%
Now letโs gtfo of C11 and get some
#BTC
/
#ETH
back this year!
LFG! ๐ฅ๐
@CelsiusUcc
@ThomasADiFiore
@Silkee_D
The
#plan
is court approved. Can you now please break your silence and host an
#XSpaces
to communicate with creditors what the next steps are and to set expectations in regards to the timeline for us to receive our liquid distribution? ๐
This is 1 reason that I believe influencer clawbacks need to happen. Hands down.
@TheCryptoLark
how much did you have in
#Celsius
and
#BlockFi
when they filed for C11?
#CEL
11 - โฆarrogant and demeaning. This, for me, was telling me that Alex is enjoying the support he is getting from the few that really have his back. But the arrogance from this man is something that I cannot stand anymore. If Alex is the genius that people think he is, thenโฆ
@SimonDixonTwitt
@cryptoismyjam
@Mashinsky
Just crazy that he came up to speak and it was the same old Alex. Blaming others, not taking responsibility for his actions, no apology, nothing. He spoke the same rhetoric and needs to voluntarily step down for any hope in a Kelvin future. I donโt know why people cannot see that
@MattPrusak
@IonicDigital
Hope you had a great first month Matt. How about hosting a Spaces for your shareholders, give us some progress updates and if there has been any additional comms with the SEC.
Listening to your last Spaces, you were excited to engage w/ us.
LFG! ๐
Thanks for sending a revised 1099 in mid-March. ๐ Taxes are already done and paid for.
Another FU to the creditors.
Get your sh*t together
@CelsiusNetwork
@WFP
@WFPChief
If itโs not too complicated, please share your plan on how and where the $6 billion will be spent. Iโm sure we all would like to see how you divvy up the money.
@elonmusk
1/ Loans vs Earn - The fraud, Mashinsky, illegally used deposits and collateral the same way. The assets were commingled and I donโt think anyone can decipher whose BTC or other assets were used for the Tether loan or any of the DeFi loans to build the mining facilities orโฆ
Wow,
@CelsiusUcc
alleges 33 counts of fraud and claims against these individuals as well as their incorporated entities. Sorry
@CryptoKoalex
Even though itโs just a motion, it feels good that some financial justice is being served to those at fault. โ๏ธ
12 - โฆhe shouldโve been able to have a plan ready to go and he doesnโt. Alex is still requesting the community to submit ideas to the UCC because he doesnโt know how to get out of this mess, imo. After all that, their latest plan is a version of what Simon said on day 1.
@CelsiusUcc
@investvoyager
Does this mean the responsible party (
@Kirkland_Ellis
) will provide 1 month pro bono, considering itโs about the value of 1 month of work theyโre doing? Can the UCC go after them for negligence to file a claim in an appropriate timeframe?
@mashinsky
Just curious how you slept last night?
Can you believe that traitor Roni is going to throw you under the bus for a lighter sentence. ๐คฃ
I canโฆyou POS fraudster.
Happy Friday!
#LockThemAllUp
#100years
Waiting for some updatesโฆ
1. Are recoveries locked in?
2. Are amounts of BTC/ETH recoveries figured out?
3. Is January 31 still the anticipated effective date?
4. Has the crypto been sold into cash to fund the exit activities?
Additional questions list below๐
The exclusivity extension motion is filed.
#CelsiusNetwork
is asking for an extra 135 days that will take them to June 30, 2023. Over 1 year since the pause. What do you think
@CelsiusUcc
? Iโm sure you wonโt agree with this excessive extension.
#CEL
โFollowing the confirmation, Celsius received feedback from the SECโฆblah blah blahโ
Give me a break and stop lying. If you havenโt been engaged with the SEC this whole time then youโre all a bunch of buffoons simply b/c we all knew this was the major hurdle.
I get the spiteful no vote. Actually, totally get it. But after 15 months into this journey, itโs time to exit.
Congrats
@JSLVENTURES
,
@camcrews
,
@BrettPerryTweet
and
@SimonDixonTwitt
You guys never threw in the towel. ๐๐๐โ๏ธ
The final countdown may be at 90 daysโฆLFG!
We are happy to announce that the Committee and the Debtors have reached an agreement with the Earn Ad Hoc Group and Simon Dixon resolving all issues with respect to the Plan.
10 - โฆthat no one knows how it will end. My final straw was when Alex decided to come up as a speaker and the first words we heard after 4 months was, โSimon youโve been in OUR spacesโฆโ These were his first words in 4 months, really? He sounded soโฆ
Lock them ALL up and drain ALL their personal assets to pay back innocent victims. We will receive checks for years to come, but unfortunately the stamp will probably be more than the checkโฆ
FU
@Mashinsky
@NukeGold
@sdanielleon
@KrissyMashinsky
Hope you get what you deserve.
Updated the
@CelsiusNetwork
liquid crypto distribution 72.90 % as a haircut of July '22 dollarized claim with a speculative effective market price as of Jan 16, 2024.
+ updated the mining valuation as per 1/24 report.
Source:
1/ Reading through the
#NewCoLite
and just thinking how these people suck at negotiating.
How is it that creditors still need to fund 50% ($225M), but plan sponsor is only 32%(~$16M)?
How is it that there are still 8 board members where 6 will remain and US Bitcoin getsโฆ
Updated Celsius liquidation. This spreadsheet is just an estimate.
If Celsius is sold a la carte: Loans, intellectual property, mining, GK8 there may be slightly more value. However, the opposite may be true too.
@CelsiusUcc
@Mashinsky
@Kirkland_Ellis
@WhiteCase
#CEL
The BRIC Bid is selected as the Plan B backup plan if the others fail.
Highlights of this bid:
1. Publicly traded mining business where creditors will receive 100% of the equity interests. Potential mgmt contract with GXD.
2. Liquid crypto distribution to creditors.
The squeezers got what they wantedโฆCEL and EARN are both securities.
Thatโs a win for loans, imo.
That sucks for the vast majority of creditors. There very well be unfortunate consequences for that SEC decision.
@CelsiusUcc
please come up with a good argument for recoveries.
Remember that day when
@krissymashinsky
said she was a creditor to Celsius. Now, I understand why she didnโt want all that information published. The arrogance from this lady. ๐คฎ๐คฌ
Of course she deleted her tweet.
@usastrongio
I hope you know the people you are working with.
@Minty_MD_
I find it comical people are getting on Simon about his plan and we still havenโt seen anything from Celsius. Really guys? How about getting on the case if Celsius. They are the company dragging their feet.
There has been zero distributions today. However we are still waiting patiently for the green light. ๐ข
@CelsiusUcc
I hope today is the day b/c you had the opportunity to update us if it isnโt.
@Silkee_D
@ThomasADiFiore
@CelsiusNetwork
@Minty_MD_
Thank you
@SimonDixonTwitt
for asking
@Mashinsky
for a community apology. It is the least Alex can do and Alex, I am very disappointed you need permission from your lawyers.
Thank you Mr. Carr for acknowledging the millions withdrew before the 90 days leading up to C11 and for the termination of Mashinsky and Leon. But, we want our money clawed back from these officers, when will those motions be filed?
#CelsiusBankruptcy
#celsiusnetwork
Hallelujah. The UCC just filed a motion to file a class proof of claim asserting non contract claims on behalf of customers.
16 - โฆcanโt we all just get along and everyone apologize for their part? Time to have a fresh start and pressuring Celsius to get a plan approved by the UCC so there is no need to file an extension should be our main priority. An extension only means more of our assetsโฆ
Basically this means that
#BTC
holders are getting a 50% haircut before any final litigation to exit.
At this point, why not just wait to $55K and just send a check in the mail for our dollarized claim.
Thanks
@Silkee_D
,
@ThomasADiFiore
and our beloved
@CelsiusUcc
. Well done!
Thanks K&E for the total coin count. Big change I noticed was the amount of ETH held. Prior filing (Aug) was 417,392 and new filing (Dec) is 456,000. The stETH went up as well, but thatโs understandable b/c of staking yield.
Updated the liquidation spreadsheet with these #โs
@CelsiusUcc
@Silkee_D
@ThomasADiFiore
Happy Monday!
Creditors are patiently waiting to hear about an effective date for the plan.
Itโs my understanding an effective date should be around 30 days after the confirmation date.
Are we still on track? Any update?
Thank you!๐
I understand the community sentiment regarding clawbacks, but there are only 1698 accounts that potentially will be clawed back into the estate. As well, if most of these clawbacks can offset the account ownersโ claim, then imho it makes sense to do so. No one is happy in BK.
โผ๏ธโ ๏ธ
#Celsius
creditors, please stay smart and double/triple check where the emails come from. The correct sender is:
noreply
@cases
-cr.stretto-services.com
#Celsius
Hearing:
If you are a US citizen and have a distribution over $40k you will be able to do addโl KYC with PayPal and be able to remove $500k per week. ๐๐๐
@SimonDixonTwitt
@JeffTutorials
Good luck auditing all the 1000โs of intercompany transactions. Over 17 months of bankruptcy for what? Whereโs the fiduciary responsibility to creditors? Whereโs the communications of Material Information? Whereโs my crypto? Whereโs the UCC? At this point, whereโs Waldo?
This makes my blood boil. They know itโs a dead end street but continue to milk the estate for their efforts that they KNOW will go no where.
Letโs just give USBTC $20M for the lawyers failed effort, plusโฆplusโฆCโmon man!
@Silkee_D
@CelsiusUcc
@ashergenoot
#FidiciaryDuty
Lawyers basically admitting they lied about sec approving the mining only plan. Only reason people want this thing is bc it would be publicly listed, and lawyers donโt see to think that will happen. Letโs hand them $225m for a company on the Canadian stock exchangeโฆworked great
๐งต Popular or unpopular opinion, I donโt know.
I was for liquidation from the get go because I thought it would provide the most value back to creditors. I still hold that belief today that if we did a C11 orderly liquidation from the get go, weโd be better off. Butโฆ
Celsius last coin report and this waterfall have a $1.1B discrepancy in liquid crypto available for distributions.
Likewise, Campagna said under oath there was $4.2B in allowed claims, but here it has $4.9B in claims.
So where did the $700m in extra claims come from? And where
@camcrews
@NukeGold
The founder and co-founders should be held liable and ordered to pay restitution to the estate for each CEL they sold at whatever price they sold it at. This should be the bare minimum, imo.
@CelsiusUcc
Thanks for the update.
1. When did Celsius submit a plan and was it a complete plan?
2. If so, does this plan include equity?
3. If so, does this plan open withdrawals this year?
4. When will creditors view the plan?
5. Can the UCC vote to liquidate?
โฆ
@CelsiusUcc
โฉ please take note.
The majority of
#Celsius
creditors do not want to offer immunity to executives for a discounted payout.
#CEL
โฆโฆ
@WhiteCase
โฉ
#Voyager
creditor committee wants to add third voting option to sale plan
For the CEL community that recommended creditors to turn on their Earn in CEL during the pause (this was an attempt to support the shortsqueeze through the app) should apologize to those people because they are potentially getting screwed and now we know it was exit liquidity. โ๏ธ
13 - That part is kind of comical after all the back and forth. I honestly donโt know where we go from here, but all I can say is that we need to stick together. Most people I hear in spaces have a good head on their shoulders and can offer value. Itโs absolutelyโฆ
Successfully got my liquid crypto
@CelsiusNetwork
distribution today through PayPal. Itโs off to cold storage. Glad it finally happened. Appreciate everyoneโs efforts to finally get it done
@CelsiusUcc
Hope everyone gets theirs soon. A good day in this nightmarish experience
Please hold an XSpaces to update us on where we are at and when the majority of creditors will receive their liquid distribution. Thanks!
Nov. 28 for custody is great, โearly 2024โ for the remaining creditors is not so great. Please do better. ๐
This week the Court confirmed the Plan and issued an opinion explaining its reasoning for certain parts of its decision. The opinion can be accessed here:
14 - โฆok and encouraged for people to discuss options in a productive manner. Iโm asking the community to come together and put your biases to the side for the greater good of the creditors. All this bickering is getting us nowhere and actually just tearingโฆ
I believed and relied on Alex
@mashinsky
โs statements to entrust my crypto and savings were in an institution just as safe as a bank.
I believed and relied on Alex Mashinskyโs promise that there could be no bank run.
I believed and relied on Alex Mashinsky toโฆ
#Celsius
#CEL
5 - โฆtaking over and people were only thinking of themselves instead of the broader community. There are 300k US creditors and another 350k intโl creditors. Everyone needs to understand this. This group here and this group there is not getting anywhere in thisโฆ
Please hold a Town Hall and let the creditors know the consequences of the Judgeโs Opinion on the series B issue. Will the Plan continue to move forward? Will series B get some EST / AST tokens as equity in Newco valued to their investment no minus a haircut? TIA
Earlier today Judge Glenn disagreed with the UCC and Celsius and agreed with the โpreferred equityโ holders, holding customers donโt have claims at every debtor entity.
Appreciate the continued fight for creditors. We canโt wrap up this bankruptcy with Series B hanging on. I hope Judge Glenn can see Celsius was run substantively as one entity.
Last night, the UCC and Celsius took decisive action to protect account holders in matters involving Celsius Network Ltd., which holds the mining assets and is where the preferred equity holders invested.
@Mashinsky
, I definitely heard you say that you submitted a plan to the UCC and this is the response received when asking the UCC directly. Thank you for the honesty and transparency
@CelsiusUcc
No plan, no new capital. We really need to liquidate to get something back asap.
A sincere Thank You to all the parties in involved. Letโs hope our next big hurdles, Series B and Regulators, will also move forward in the rekt creditors favor. Letโs also hope we are not on the same roller coaster Voyager was on. Do we see the light at the end of the tunnel?
Goodbye Celsius, Hello Newco. FU
@Mashinsky
we getting out of this inspite of you. Competent creditor led Newco will teach you how it chould be done.
#LFG
๐๐
@CelsiusUcc
@Silkee_D
@ThomasADiFiore
Happy Monday!
We are โshortlyโ after Thanksgiving, so when are we going to hear/read whatโs going on with the modified OWD?
We have court on Thursday and Iโm sure all parties would like to review the modified plan before the hearing๐
How about maximizing value for the creditors? The debtors estate is selling these coupons to only pay professionals while in C11. When will the bleed stop? I guess itโs better than selling our stables. Oh, I forgot, they are doing that too.
The vast majority of creditors that withdrew from
#Celsius
during the 90 days prior to petition date should be happy to approve a plan. The reason is simple, if this turns into a liquidation those creditors very well may be clawed back. Keep that in mind when voting. โ๏ธ
#CEL
@digitechnomad
@Mashinsky
Clarification: All the Mashinsky Family and Mashinsky Family owned LLCโs CEL should be clawed back at the USD value it was sold for. No exceptions.
@unusual_whales
In all honesty, how many people do you need to monitor bots all day. So then why should so many people have access?
Whatโs up with Twitter people bashing the new owner?
Relax and breathe, itโll be alright.
8 - โฆsees the need for crypto lending and decided to put an offer on a competitor Salt Lending. This somehow meant that he wants to take over Celsius Lending with no proof of anything of the sorts, all speculation that again led to a more divided community. Keep in mindโฆ
@CelsiusUcc
@Silkee_D
@ThomasADiFiore
Happy Monday! Just a reminder that the voting turnout (~80,000) had a lot to do with your engagement on X.
Most of those creditors arenโt reading transcripts and attending the court hearings,but getting their info from us.
Wen XSpaces?
35 digital assets not transferable in the Voyager case b/c they are deemed to be securities. They will be liquidated and paid back in fiat. All this time in bankruptcy to just liquidate anyway. This is THEFT!
@CelsiusUcc
, I really hope you are paying attention.
35 coins are currently not transferable and will need to be liquidated.
Voyager isnโt looking to alter the plan
Customers will receive in kind when possible, FIAT or USDC when not possible
They are not looking to pay everyone in FIAT.