Cryptocurrency News

Celsius recovery plan proposed amid community-led short-squeeze attempt

06/20/2022

Less than a minute

2022.06.20 09:01

Celsius recovery plan proposed amid community-led short-squeeze attempt

Celsius’ lead investor BnkToTheFuture and its co-founder Simon Dixon have offered to assist the network by deploying similar “financial innovation” used in 2016 to save cryptocurrency exchange Bitfinex from liquidation.

Although the statement from Dixon on Saturday, June 18, did not include specific details of the recovery plan offered to the Celsius’ board and CEO Alex Mashinsky, Dixon noted it would be similar to the one offered to Bitfinex after its hack in August 2016, which he claims was resolved within nine months.

The Bitfinex Solution

Gamestop-style short-squeeze brewing

06/20/2022

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