Leaked Audio Featuring Celsius Execs Uncovers Plans to Create an IOU Cryptocurrency – Bitcoin News

According to leaked audio obtained by CNBC, crypto lender Celsius wants to create an IOU cryptocurrency to return funds to customers. Audio provided by a Celsius customer, and the recording explains that the bankrupt crypto lender wanted to create a form of “wrapped token” that represents a ratio of the amount the customer owes to the amount money the company has left on its balance sheet. This ad claims that if Celsius customers retain their tokens, the possibility of financial loss can be mitigated.

Leaked Audio Verified By Former Celsius Employees Revealing Crypto Concepts IOU

After a court-appointed examiner has more arrive Poison bankruptcy case and crypto lenders have found a way re-open withdrawal for specific customers, Leaked sound obtained by CNBC details Celsius is said to want to create the IOU cryptocurrency.

It all started 103 days ago on June 12, at 10:10 p.m. (ET), when C tell the public that it halted “all withdrawals, swaps and transfers between accounts.” A month later, after some default and restructuring rumorsPoison submit for Chapter 11 bankruptcy protection.

Celsius is not the first crypto company to create a token to repay debt as planned lever by Bitfinex after the exchange lost nearly 120,000 BTC In the 2016 breach, the exchange initially issued a “Right of Recovery” coin called the BFX token, and by April 2017, the exchange said the debt had been paid in full. .

Celsius sound obtained by CNBC from a customer named Tiffany Fong, and the news agency was able to verify that the sound was “authentic” from former Celsius employees. The sound is said to feature Celsius co-founder Nuke Goldstein and the company’s chief technology officer Guillermo Bodnar.

Celsius wants to highlight ‘Transparency’ through ‘Transaction Management System’

As it sounds, a particular type of “wrapped token” will act as the IOU and the company mining business and staking ethereum can help provide backing. Two days before Celsius suspends withdrawals, crypto proponents discovered one bulk Lido’s ether (STETH) is allegedly linked to the crypto lending company.

Goldstein said the plan will be available to customers who use a “Make Money” account. Bodnar explains by audio that the IOU token idea is in the “early stages,” and an audio portion shared exclusively with CNBC says Bodnar details another plan to bolster the idea of ​​compensation. .

He summed up the “transaction management system,” CNBC reports Paige Tortorelli and Kate Rooney, and the system is geared toward providing C customers with better “transparency.”

“Transparency is not only reflected in the way we communicate, but also ensures that everything done in our platform is traceable, auditable, end-to-end – we there’s nothing to hide,” Bodnar said in the recording.

Degree Celsius already implementation a token called C network (CEL) is said to be the “backbone of the Celsius Network.” CEL aims to create a “value-driven lending and lending platform” for all its members.

At the time of writing, there is a circulating supply of 423,415,980 CEL as of today. CEL down 80.6% from the crypto asset’s all-time high and it hit $8,280,796 in worldwide trading volume.

The most active exchange for CEL trading and liquidity is Digifinex. Furthermore, a small fraction of CEL supporters try a so-called short-term with CEL in July and the attempt ultimately failed.

Cards in this story

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What do you think of the leaked audio clip stating that Celsius wants to issue crypto asset IOU tokens to pay off debt to “Make Money” customers? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for News about the groundbreaking protocols emerging today.

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