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BnkToTheFuture attempts to find a solution to save Celsius.

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BnkToTheFuture attempts to find a solution to save Celsius.

BnkToTheFuture, Celsius' principal investor, has offered a rescue scheme identical to the one employed in 2016 to save the Bitfinex exchange through its co-founder, Simon Dixon.

Bitfinex was hit by a massive attack at the time, but it was able to recover and continue operating, and is today one of the most popular cryptocurrency exchanges.

Dixon added a video from 2017 showing how Bitfinex was saved back in the day in the post describing the solution. 

Celsius Network is owned by 1,039 BnkToTheFuture investors, which is why the CEO has taken legal action.

As a shareholder in Celsius, Dixon says he wants to help the network by suggesting a recovery strategy to avoid a short-term systemic impact on Bitcoin's price.

He further said that BnkToTheFuture has a place and a team that can assist Celsius in getting out of this crisis.

Withdrawals on Celsius are still halted, more than a week after the suspension, and the firm has announced that AMA (Ask Me Anything) sessions and Twitter Accounts would be suspended as well, in order to focus only on the recovery strategy. Solutions to the Celsius crisis that have been offered.

Traditional finance, according to Dixon, has no quick remedies to offer Celsius, and he feels that the current issue can only be resolved through the application of financial innovations. For example, Bitfinex's approach in 2016 allowed them to fix the problem in just nine months, and it ended up functioning quite effectively for its consumers.

Of all, this is still a high-risk option with no guarantee of success. If it takes a clue from a previous example that has been solved successfully, it may have a possibility of reproducing that success in the case of Celsius.

It's worth noting that the market price of their CEL token, which had dropped as low as $0.15 last week, has now surged to $0.66, a 77 percent increase in just seven days. Meanwhile, it is still 12% lower than it was a fortnight ago, and 92 percent lower than it was a year ago.

As a result, the situation remains serious, but we are beginning to glimpse a faint glimmer of a potential answer, although one that is still very unknown.

The crypto markets as a whole appear to have completed their ten-day decline over the weekend, perhaps because the panic is fading.


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