As a creditor in Celsius Network, I asked the UCC that my crypto be paid back in kind, based on all available liquid assets at petition day. As well as interest that was contractually agreed to. They can’t suggest they own our assets based on said contract and not uphold the rest of the obligations in the same contract.
For the illiquid assets portion of the claim available at petition day, I asked that Celsius Network be forced to buy or mine BTC to pay back the community as part of restructuring.
That’s the only viable solution.
They have a mining company bought with our assets. Right? To mine a very valuable crypto token named Bitcoin. Right? Not to mine some made up shit coin? Right?
I don’t want nor will I accept any sort of fabricated coin that represents Celsius and their equity. I owned zero CEL for that exact reason. It holds ZERO value and no way to liquidate it. It also creates a taxable event by exchanging my crypto into some made up token. Not interested. It would push me directly into personal bankruptcy.
Your thoughts on this scenario?
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