Update on Pledge of Support and Next Steps

Dear Celsius Creditors,

I am writing to provide you with an important update on the progress of our efforts as creditors to influence the outcome of Celsius Network LLC in the ongoing bankruptcy case.

First, I want to express my sincere gratitude for your unwavering support and commitment to the Reservation of Rights. Your participation and pledge of support has already played a pivotal role in shaping the course of the case, and we are pleased to inform you about the recent developments.

In collaboration with the Earn Ad Hoc and to support the interests of the creditor community, we have taken a significant step forward. I was planning to file a document, in my own capacity as a creditor, with the United States Bankruptcy Court for the Southern District of New York today, expressing our support of the collective Reservation of Rights in relation to the Debtors' Disclosure Statement ahead of the court hearing on Monday, August 14, 2023. However, the UCC (Unsecured Creditors Committee) reached out and made good faith efforts to address our areas of concern. Alongside the Earn Ad Hoc, I had several meetings arranged by the UCC with Celsius and their advisors, the UCC committee members and their advisors, and the plan sponsors and their advisors to address all matters in the reservation of rights. The Earn Ad Hoc has now filed an update outlining the progress made since the reservation of rights. Here's the link to that published document.

I will also host a Twitter Space after the court hearing on Monday to update you on all non-confidential progress since your pledge of support. Please join me on Monday, August 14, 2023 at 6:30pm BST / 5:30pm UTC / 1:30pm EDT.

Through our combined efforts, this should make a significant impact on the case, setting a precedent for how we can effectively communicate our views to the court and cooperate with the UCC. This is a crucial step in involving creditors and influencing the outcome of the case. Your collective dedication has demonstrated the strength of our community and our shared commitment to a fair and transparent process.

In the document that I was planning to file before the good faith efforts of the UCC, I provided a detailed declaration outlining the progress and achievements we have accomplished so far. A summary can be found below:

Summary Of The Formerly Planned Declaration by Simon Dixon (Me):

1. Simon Dixon, a holder of $15,654,219.57 in General Earn Claims residing outside of the United States, has been advocating for creditors.
2. Simon maintains a public website where he provides regular updates and information related to the Celsius bankruptcy case.
3. On August 4, 2023, a Twitter Spaces public forum was held, along with a YouTube session, in support of the Ad Hoc Earn Group's Reservation of Rights (court docket 3159) pertaining to the Debtors' Disclosure Statement.
4. Simon invited pledges of support from the creditor community to review the Ad Hoc Earn Group's Reservation of Rights and its concerns, as well as to provide their claim details.
5. As of August 10, 2023, a remarkable $627.8 million in U.S. dollar claims had been pledged by 5,998 individual creditors in support of our cause.
6. Bnk To The Future, under Simon's leadership as CEO, has verified the identities and claim information against the Celsius SOFA (doc 974) for 5,998 creditors. An additional 2,320 creditors have also pledged support, with verification work ongoing.
7. In total, at least 8,318 submissions from creditors have been received to support the Ad Hoc Earn Group's Reservation of Rights.

This achievement signifies the strength of our collective voice and our determination to influence the outcome of the bankruptcy case.

We are working diligently to enhance creditor involvement over the board and ensure a transparent process for the reorg or orderly wind-down, while seeking the best possible outcome for all involved. Your continued support is crucial as we navigate this complex journey.

Thank you once again for your dedication and commitment. Together, we are making a meaningful impact, and we look forward to updating you on further developments in due course.

I would like to thank the UCC, the debtor, and the plan sponsors for their good faith efforts to address our concerns more collaboratively with creditors.

Warm regards,

Simon Dixon

Bitcoin Angel Investor | Bitcoin OG | Author | CEO & Co-Founder of Bnk To The Future

P.S. Please be aware that I am unable to respond to emails, so any potential replies might unfortunately remain unanswered. However, if you are situated outside the United States, I encourage you to connect your Celsius Chapter 11 claim to your Bnk To The Future account as outlined in the guide provided below. This strategic action will enhance the credibility of our claim, positioning us favourably to actively engage in forthcoming initiatives and voting opportunities from within your account. To navigate this process seamlessly, please consult the instructions available at: https://bnktothefuture.com/blog/involved-in-a-crypto-chapter-11-case-like-celsius-voyager-ftx-or-blockfi/