Intl Celsius Creditors

Guys, if you want to see just how unfair the distribution was between US creditors and non-US creditors, take a look below: Scenario for a Celsius non-Us creditor HODLing 9.3 BTC and 110,000 USDT into Earn. Step 1: Your "Locked-In" Claim Value Your claim was calculated using the bottom-of-the-market prices from July 13, 2022. 9.3 BTC (@ $19,881): $184,893 110,000 USDT (@ $1.00): $110,000 Total Allowed Claim: $294,893 Step 2: The Split (Cash vs. Crypto Creditor) We assume the standard 57.9% initial recovery on that claim amount. Scenario A: You (The "Cash" Creditor) Because you are in a non-supported region (like Malaysia), your distribution was converted to USD. Payout: 57.9% of $294,893 What you received: A check/wire for approx $170,743 USD. Current Value: $170,743. Result: You recovered your USDT principal plus a fraction of your BTC value, but you have zero exposure to the market today. Scenario B: The "In-Kind" Creditor A creditor in a supported region (US/UK/etc.) was owed the same $170,743, but they received it in coins based on January 2024 prices (BTC ~$43k / ETH ~$2,577). The Conversion: $85,371 in BTC = ~1.98 BTC $85,371 in ETH = ~33.12 ETH Value of those coins today (assuming ~$110k BTC / ~$3.6k ETH): 1.98 BTC is now worth: ~$217,800 33.12 ETH is now worth: ~$119,232 Total Current Value: ~$337,032 The "Unfair" Difference Here is the cost of being a non-US/Cash creditor in this specific scenario: Crypto Creditor Value: $337,032 Your Cash Payout: $170,743 The Gap (Loss): ~$166,289