Celsius lost potential $6 billion bailout after refusing to provide financials, investor says

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Simon Dixon, CEO of BnkToTheFuture, advised Celsius to follow in Voyager's footsteps by filing for bankruptcy and making its finances public Celsius has paid off a large portion of its debts to DeFi protocols Maker, Aave and Compound Simon Dixon, CEO of prominent Celsius investor BnkToTheFuture, said this morning that he is up to $6 billion. Dixon's comments came in a YouTube interview where the early Bitcoin adopter, who became the Crypto investor described his proposed recovery plans for Celsius, which the company refused to follow. Dixon advised Celsius CEO Alex Mashinsky to be transparent about the company's financial situation and publicly outline a turnaround plan. …

Celsius lost potential $6 billion bailout after refusing to provide financials, investor says

Celsius
  • Simon Dixon, CEO von BnkToTheFuture, riet Celsius, in die Fußstapfen von Voyager zu treten, indem es Insolvenz anmeldete und seine Finanzen öffentlich machte
  • Celsius hat einen großen Teil seiner Schulden bei den DeFi-Protokollen Maker, Aave und Compound bezahlt

Simon Dixon, CEO of prominent Celsius investor BnkToTheFuture, said this morning that he would raise up to $6 billion.

Dixon's comments came in a YouTube interview where the early Bitcoin adopter turned crypto investor described his proposed recovery plans for Celsius, which the company refused to follow.

Dixon advised Celsius CEO Alex Mashinsky to be transparent about the company's financial situation and publicly outline a turnaround plan. Mashinsky declined to make Celsius' financial situation public.

"The only reason you wouldn't pursue [a lucrative round of investment] is there something else going on?" said Dixon.

Cash-strapped crypto lender Celsius has been slowly working to restore liquidity after suspending customer withdrawals in June. The company has issued two statements in the past month, but neither of them indicated when it expects payouts to resume or how the company plans to further restore liquidity.

Dixon, whose company has deposited tens of millions of dollars in Celsius, said a potential multibillion-dollar rescue package he proposed fell apart after Celsius refused to share its balance sheet with investors.

Critics accuse Dixon of plotting a hostile takeover of Celsius. Dixon denies the allegations and says a takeover would ruin the trust his company has built in its various other partnerships with crypto firms.

Celsius has been reclaiming collateral in recent days by paying off its debts to decentralized finance (DeFi) protocols Aave and Compound. The company unlocked $410 million in staking Ether from Aave this morning after unlocking $172 million from the protocols on Monday.

In a phone call, a Celsius representative declined Blockworks' request for comment, saying all company statements can be found on the Celsius blog.


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The post “Celsius Lost Potential $6B Bailout After Refusing to Provide Financials,” Investor Says is not financial advice.