Celsius Network's BnkToTheFuture proposes recovery plan

Three proposals that could help solve the firm's liquidity issues and save it from bankruptcy have been submitted by BnkToTheFuture, one of the leading investors of the Celsius Network.

Simon Dixon, the CEO of BnkToTheFuture, shared the proposals on Twitter. If a proposal is adopted, it will try to refund depositors and help maintain shareholders value.

The recovery plan came a few weeks after Dixon mentioned that a traditional solution might not be the way out for Celsius and advised that it explore something similar to the equity debt issuance like Bitfinex in 2016.

The shareholders' meeting will be called by Dixon, according to BnkToTheFuture.

It appears that BnkToTheFuture intends to pressure Celsius by publicly disclosing the proposals after the Celsius board and advisors didn't act on previous communications between them.

The longer you go on, the more FUD comes out, the more bad PR comes out, the more predatory offers come out, the more the community stops believing in what they originally believed in.

With withdrawals frozen since June 13, there are fears of bankruptcy, with many depositors worried they will lose their assets.

According to Celsius, it is working on stabilizing the liquidity issues and will share more information with the community soon.

It said that it is taking steps to preserve and protect assets while exploring options. Some of the options include restructuring liabilities, strategic transactions, etc.