Regulation question: how does it work if Celsius is actually

insolvent, but wants to keep fighting, like by putting their last billion into day trading? Is there a point where the government will step in and say "you're done, we're taking your assets, selling them, and will split it amongst your debtors? Can they throw in the towel so to speak, or is Celsius allowed to keep going until they literally have nothing left?
Alternatively if they investigate Celsius but actually find their recovery plan to be credible, can they let them keep going, or must they say "you need to allow withdrawals ASAP, even if we have to liquidate everything and give investors pennies on the dollar"?
I just don't know much about what exactly the gov usually does in this type of "troubled company" situation

21.06.2022

8 ответов

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Alexandra O

21.06.2022

R3al Patient IoTeXian

I think no one knows and what tos says is that we are unsecured lenders aka community who trusted our funds to be safe in celsius hands .. maybe celsius wants to make a bold statement once they are ready to resume withdrawal due to liquidity as they wrote and told us, maybe shit is way worse than some believe and not only lack of liquidity. Radio silence sucks 😞

21.06.2022

Jackie Chain Chain

R3al Patient IoTeXian
I think no one knows and what tos says is that we ...

it’s strange.. usually there is at least something. I wonder if they consider some influencers tweeter in their behalf to be enough communication, or they just don’t care

21.06.2022

Yeshaya Автор вопроса

Yeah, I'm much more pessimistic than I was a week ago. Even a 1 liner "sorry, we have too many assets tied up in long term investments, so we can't honor withdrawals for a couple months" would reassure me. The only reason not to assume the worst is because they're still moving around some money and lowering liq rates, but that's about it

21.06.2022

Mike

Lawsuits galore! The law firms are already soliciting people that have had their accounts frozen. If Celsius does not get ahead of this soon, they will have no choice but to be insolvent and then the lawyers all step in. To answer your question, if they actually do enter restructuring (bankruptcy) everything will be frozen and a third party will be brought in to settle things as best they can. Celsius would not be able to take on risky investments, etc.

21.06.2022

Jackie Chain Chain

Yeshaya
Yeah, I'm much more pessimistic than I was a week ...

does it really matter how we feel

21.06.2022

Federico Romanin

Las Vegas style... all on red or black 🎲 .. ALL IN... double or nothing 🙈

21.06.2022

Yeshaya Автор вопроса

Mike
Lawsuits galore! The law firms are already solicit...

Thanks. I guess the most frustrating situation would be if Celsius is financially capable of locking down for a couple months then honoring everything, but have their hands tied by lawsuits and need to just market sell everything. But at this point I'm just speculating with no data to pass the time. Sherlock Holmes would be ashamed :)

21.06.2022

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