Simon Dixon Suggests a Holistic Approach to the Current Celsius Challenges

The Celsius case seems to have taken a new dimension as Simon Dixon, a serial crypto investor with over 100 different crypto investment interests and a significant stake in the Celsius Network, provides critical solutions to issues that currently plague the network.

Based on its last coin report, Celsius network has about $2.7B hole or coin shortage to 600,000 creditors.

In his November 3 YouTube broadcast titled “A message to judge Glenn”, Simon addressed these issues. However, many have described it as an unconventional approach to solving the myriad of problems beguiling the Celsius network.

But What Are His Thoughts?

Simon’s “emergency broadcast” was intended to address judge Glenn and provide what he considered a suitable solution to every creditor on the Celsius network.

During the broadcast, He said:

“What I want to do is prevent many creditor battles because if we can prevent those battles, I think we can have a significantly better result all round for all parties. I think the examiner can do what they need to do; I think the judge can reach the determinations of what the judge wants to reach; I think creditors can get what they want to get; I think regulators and those that want to serve justice can get it all at the appropriate time if we can take the right approach of trying to get the best results for all parties.”

Simon believes this will reduce the heat-up in the polity and refute narratives like “Celsius is a Ponzi scheme.” He also thinks there is a need to take a holistic approach to solve the issues in the ecosystem rather than taking individual cases (fragmented hearings) and getting them stalled by objections.

However, he described his resolutions as relevant to both the court hearing and the creditors.

Simon’s Message to Judge Glenn

It’s important to reiterate that Judge Martin Glenn of the U.S. Bankruptcy Court in New York is leading the Celsius case. Simon’s message to him may have been fuelled by the complications surrounding the case; the judge once said they’ll have to look abroad for guidance during one of its hearings.

However, Simon’s solution is focused on how Glenn could reach a “speedy property settlement” on the Celsius network. He divided the solution into eight categories and gave a concise explanation.

What About the Celsius Creditors?

It’s fascinating to say Simon is the 21st largest creditor on the Celsius network. And he thinks the only way the Ponzi scheme narratives can be diminished is for creditors to get through a compliant bidding process. The process, however, is quite demanding and may likely take proper shape in December.

He advised fellow creditors to watch his seven video series on his Youtube channel, where he presented ideas on how they can get whatever coin they’ve got on Celsius, equity on all the assets bought, and every creditor’s loan can get a “home.”

He also suggested Creditor rebalancing, especially if creditors cannot get the amount of coin they invested ab initio; they should have the opportunity to get the balance in equity shares of the Celsius network.