๐จ New #CelsiusNetwork distribution of ~6% recovery to be expected by Christmas!
I'm now expecting a 4th distribution of 6% this Christmas, why?
As of July 31 & after subtracting the 3rd distribution, @CelsiusNework had $115M in their accounts & $128M of net reserves. With the @tether settlement resolving the largest case, the estate should now hold ~$355M in cash ($115M + ~$240M from Tether).
Subtracting $55M for smaller litigations & distributions expenses, $300M remains, which the @CelsiusLOC has no reason to withhold.
This committee, supposedly representing creditors' interests, should fast-track this distribution, still this year.
Its 7 members among them @camcrews / @HellsiusNetwork (alt) and @DavidJAdler1991 may have received ~$971K each ๐ต! (when divided equally see costs of the LOC below)
More reserves unlocked?
The $128M in reserves should also see more unlocks as more claims are corrected and settle, this could take it over 6%.
What cases left?
Pending cases include @EquitiesFirst (~$500M in assets stolen) and @FireblocksHQ (~$110M), the other remaining cases should all be under $100M including clawbacks.
๐กRT to push & pressure the LOC for a 3rd distribution this year!
Congress has the opportunity to provide urgent clarity to ensure that the future of blockchain and crypto technology can thrive in the U.S.
PLEASE SUPORT H.R. 4763, the Financial Innovation and Technology (FIT) for the 21st Century Act. FIT 21!
@RepHoulahan@RepLoisFrankel
Join me in asking Congress to protect online sellers and increase the 1099-K reporting threshold. https://t.co/dPCEQv70d0 https://t.co/I0kp8UFaRH @SenBobCasey@SenToomey@RepHoulahan