Fahrenheit Holdings
@FahrenheitHldg
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Dedicated to fixing Celsius.
Celsius
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Pinned Tweet
The replay of yesterday's Town Hall session can be viewed here:
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"Celsius Announces Fahrenheit, LLC as Winning Bidder to Manage New Entity to Be Owned by Celsius Creditors"
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We look forward to connecting with the Celsius community with a webinar once the disclose statement order has officially been entered. Will share details and dates, but likely early next week.
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1/7 Today marks a major milestone on the path forward for Celsius creditors & the broader crypto community. Through today's Disclosure Statement, we are excited to share our vision for a new future with the goal of maximizing value for Celsius creditors.
#CelsiusNetwork
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📣We look forward to hosting a Twitter Spaces on July 19th w/
@CelsiusUcc
& Debtor to discuss the plan. We know there are many questions - please take a moment to submit yours and we will strive to get to as many as possible during the upcoming spaces.
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Celsius Disclosure Statement Approved by Court
- Plan Focused on Distributing a Meaningful Liquid Cryptocurrency to Customers as well as Equity in NewCo
- Celsius Creditors Encouraged to Vote in Favor of Chapter 11 Plan by September 22, 2023
Read more👉
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📣 1/We have gathered a group of crypto native operators and experts who have a vision of reinvigorating
@CelsiusNetwork
with an entirely new strategy that is not only helpful for those who were harmed in its collapse, but also for the entire crypto community. 👉
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We are hosting a session on Mon, Aug 21 at 11amEST/3pmGMT regarding the latest disclosure statement!
⏺️ Event will be recorded.
📽️ This is being hosted via zoom webinar in order to share visuals.
❓ Questions can be submitted live via Q&A chat feature.
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📣 Celsius Reaches Resolution with the Department of Justice, The Securities and Exchange Commission, The Commodity Futures Trading Commission and the Federal Trade Commission
Further reading:
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Our Twitter Spaces with the
@CelsiusUcc
and Debtor to discuss the plan will be held on Wednesday, July 19 at 11am EST. Set a reminder and join us later this week!
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Join us for a Town Hall on Monday, August 21st for a discussion on the latest Disclosure Statement with the Fahrenheit leadership team. Please register for the webinar at:
(you can also click and join real time on Monday).
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24 Hours 👀
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1/4: For a General earn creditor electing the Liquid Crypto Weighted Distribution Election or Toggle (to the extent fully satisfied), the Disclosure Statement estimates the following projected recovery:
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Join us for a Town Hall Session today! 1 hour from now:
- Via zoom in order to share visuals
- Questions can be submitted on chat feature
- Please register with a zoom account
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Mark your calendars for this Thursday! Submit questions in advance 👉
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2/4 37.5% (the Liquid Crypto Distribution for all General Earn Creditors) + 20.6% (the 29.5% NewCo Common Stock in the Exhibit adjusted for the 30% discount associated with the Toggle) for a total recovery of roughly 58.1% in liquid crypto.. we suggested approx 60% on webinar.
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6/7 We urge all parties in interest to review the Disclosure Statement in its entirety, as it contains key information respecting, among other things, the Celsius Chapter 11 Plan, NewCo, projected creditor recoveries, and risk factors.
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4/7 For details on the vision we have laid out, we suggest turning to pages 297 through 324 of the Disclosure Statement here:
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2/ Earlier today,
@CelsiusNetwork
announced that an auction will be taking place on April 25th - and as a group, we are thrilled to have our bid a part of this process:
Important update: A live auction will take place on Tuesday, April 25 to select the winning bid. Stalking horse NovaWulf will compete against 2 qualified bids. More details:
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2/7 This plan is representative of months of collaboration with the Special Committee of the Board and the Official Committee of Unsecured Creditors, whose input and feedback has been much appreciated.
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7/7 A copy of the Disclosure Statement can be accessed through the following link: . The Disclosure Statement remains subject to the approval of the Bankruptcy Court in all respects.
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3/7 We are enthusiastic about what lies ahead and look forward to transparent communication and further collaboration with the Celsius community as we move forward in the process.
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REMINDER! Please note that a copy of the Disclosure Statement can be accessed through the following link: .
The Disclosure Statement remains subject to the approval of the Bankruptcy Court in all respects.
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5/7 Additional important and legally required items:
This is not a solicitation of any chapter 11 plan under Bankruptcy Code Section 1125, or an offer or acceptance with respect to any securities.
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3/4 This indeed does assume full satisfaction of the election.. to the extent the election were only partially satisfied, the total estimated recovery percentage would be higher but the liquid crypto recovery would be lower.
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Recording from our Twitter Spaces yesterday 👉
Our Twitter Spaces with the
@CelsiusUcc
and Debtor to discuss the plan will be held on Wednesday, July 19 at 11am EST. Set a reminder and join us later this week!
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4/4 All of these estimated recovery percentages are based on those used in the most recently filed Disclosure Statement.
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@Jeff_9989
Fahrenheit Holdings has no interest in NewCo providing third-party financing for any litigation and has no plans or intentions for NewCo to do so. And to be clear, Avoidance Actions against Account Holders are not being transferred to NewCo under the Plan.
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Failed Crypto-Lender Celsius Auction Attracts
@Arrington_Cap
, Gemini
Celsius attracted two new bidders in a three-way auction set for Tuesday, according to a filing by Kirkland & Ellis, which is overseeing the crypto lender's bankruptcy
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For more information on the disclosure statement approved by the court:
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From
@jeffjohnroberts
: "The emergence of these two new bidders comes after grumblings about an initial proposal put forward by NovaWulf, which was selected as the so-called stalking horse bidder—a role that gave it an inside track to taking over Celsius."
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Please register with an email that has a zoom account - or create a new one!
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1/4: For a General earn creditor electing the Liquid Crypto Weighted Distribution Election or Toggle (to the extent fully satisfied), the Disclosure Statement estimates the following projected recovery:
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@DexterTheDuck3
@NovaWulfDigital
@Gemini
thanks for the well wishes!
If our bid drives more BTC of recovery to creditors by making process competitive - even if we are not successful - it will be a great use of our time/$
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@DexterTheDuck3
love it
cycles come and go
What crypto stands for stays the same
(if not more important each and every cycle)
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