In the leaked audio, Celsius’ leadership says that employees’ funds will be subject to the same rules and timeline as customer assets.
Goldstein said Celsius will release"wrapped tokens," which will serve as an IOU for customers. The tokens represent the ratio between what Celsius owes customers and what assets they have available. He said if customers wait to redeem their tokens, there's a better chance that the gap between what Celsius has and what it owes will be smaller.
Celsius also intends to allow customers to redeem these tokens, according to Goldstein. He said the tokens can be redeemed on Celsius for a value likely less than what they are owed or on crypto platforms like Uniswap, allowing the market to determine the tokens' value.In this photo illustration, the Celsius Network logo is displayed on a smartphone screen beside Bitcoin cryptocurrencies.
Celsius, which said it managed billions of dollars in customer assets, never had sophisticated software to properly manage and track its assets, according to sources familiar with the company. These sources, who asked not to be named because of confidentiality restraints, also said the data was being tracked manually, on a simple Excel spreadsheet."...
"If you go to Twitter, bring an umbrella because it's raining bull---- over there," Goldstein said."This is your opportunity to get the truth. If we don't tell you the truth of what we know – we go to jail. Now, I don't know if we go to jail…but it's not good."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Celsius Might Be Planning to Turn Its Debt Into Crypto ‘IOU’ TokensIn a leaked audio file, Celsius’ co-founder and CTO Nuke Goldstein detailed a potential plan to issue wrapped tokens representing Celsius’ debt to Earn customers.
Read more »
A's help create happy housewarming for new Ronald McDonald House in OaklandSeveral Oakland A's players stopped by the new Ronald McDonald House set to open in 2023 with a truck full of gifts.
Read more »
Former A’s stars Canha, Bassitt, Chavez return to Oakland with New York MetsWith Eric Chavez as their hitting coach, the Mets have scored the fifth-most runs in the majors and are fifth in batting average and eighth in OPS.
Read more »
Lawyers for Celsius investors file motion to have interests represented in courtLawyers requested the appointment of an 'Official Preferred Equity Committee' to represent certain Celsius shareholders in bankruptcy court.
Read more »
Celsius Shareholders File to Stake Their Claim for Bankruptcy PayoutsShareholders who poured millions into CelsiusNetwork before it went bankrupt want legal representation in the process. IanAllison123 reports
Read more »