celsius repayment plan

[void]

I don't remember who (@JackAlabama or @JohnnyDoe perhaps) posted quite some time ago a link to an opportunity to buy Celsius related claims, cannot find the thread/comment though - I must admit I was skeptical about such an investment but it appears some people might have made quite a good decision

Celsius to Emerge from Bankruptcy With Repayment Plan Approved - Decrypt

Backed by a new entity with $450 million in seed funding, the failed crypto lender may come back to life.

decrypt.co

off-topic note.... searching for the post I came across this thread Make your vote, Bitcoin will hit 18K now? - hilarious reading really

 

[StMark]

If you expect the recovery rate to be above the price you pay for the claim it's a good trade for sure. Currently I've seen Celsius claims trading around 35c on the dollar, meaning you pay 0.35c for every 1$ of claim. Potential risks are long settlement time and ballooning legal fees, opportunity costs, clawbacks. Pro: you unlock liquidity today and can already re-deploy capital in crypto if you expect a bull market.

I am myself dealing in FTX, Genesis and Celsius claims, so if anyone lost funds on those platforms happy to have a chat about trading the claim.

PS: Adding more color on the process: trading a single claims has transaction cost of around 300-400$ as you need to submit papers to the bankruptcy court. Buyer name is public, seller name can be redacted.

 

[JohnnyDoe]

Celsius claims last traded at 34-39% (bid-ask), it seems that now that the restructuring plan is approved transactions ended. FTX trades at 54-57%.
When I first posted about it, FTX was trading at 13%: FTX bankruptcy for investors

 

[wellington]

I don't remember who (@JackAlabama or @JohnnyDoe perhaps) posted quite some time ago a link to an opportunity to buy Celsius related claims, cannot find the thread/comment though - I must admit I was skeptical about such an investment but it appears some people might have made quite a good decision

Celsius to Emerge from Bankruptcy With Repayment Plan Approved - Decrypt

Backed by a new entity with $450 million in seed funding, the failed crypto lender may come back to life.

decrypt.co

off-topic note.... searching for the post I came across this thread Make your vote, Bitcoin will hit 18K now? - hilarious reading really

Lol,

I met him in 2018 in Dubai for a Blockchain conference, an obvious ponzi scheme.

If you expect the recovery rate to be above the price you pay for the claim it's a good trade for sure. Currently I've seen Celsius claims trading around 35c on the dollar, meaning you pay 0.35c for every 1$ of claim. Potential risks are long settlement time and ballooning legal fees, opportunity costs, clawbacks. Pro: you unlock liquidity today and can already re-deploy capital in crypto if you expect a bull market.

I am myself dealing in FTX, Genesis and Celsius claims, so if anyone lost funds on those platforms happy to have a chat about trading the claim.

PS: Adding more color on the process: trading a single claims has transaction cost of around 300-400$ as you need to submit papers to the bankruptcy court. Buyer name is public, seller name can be redacted.

You can trade via that new Three-Arrows exchange - just have to dox your wallets and do KYC.

I Doubt Celsius will have a recovery like FTX, you had some serious money finders tasked on that one, and they had heaps of assets to unwind (doubtful much will be lost PP).

Celsius on the other hand...