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From: invest.woke.go.broke@disney.com
In article
wrote:
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> Very happy to see Swallwell fail after his immature ignorant behavior with a
Chink whore spy.
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> Monkey Pox, right on time to give Democrats an excuse to cheat in the next
election.
Recent court documents filed in the bankruptcy cases of Voyager
Digital and Celsius Network reveal the financial ruin
potentially facing customers of both companies.
“The money that my wife and I were hoping to use for our young
daughter’s education in the future is now locked up,” Niraj, a
Voyager customer, wrote in a statement to Judge Michael Wiles.
“I have been in shock since Voyager halted withdrawals. It is as
if your bank is no longer allowing you to withdraw from your
savings accounts. How would you feel? Would you not feel
betrayed?,” he added.
Niraj’s letter is one of more than a hundred filed to the court
and made available to the public by judges in these cases, which
includes revelations from users who have lost money or believe
they were misled by each company.
On June 12, Celsius told its customers it would freeze all
withdrawals on its platform. Three weeks later fellow crypto
lender Voyager did the same thing. In the first two weeks of
July both crypto firms filed for Chapter 11 bankruptcy
protection.
The fate of each of the platforms’ customers is in the hands of
the courts.
“The thousands of us Voyager customers hope that you will
carefully take our lives and livelihoods into consideration
while presiding over this case,” wrote Jacoub Hammodeh, a
customer who trusted Voyager with his holdings.
Hammadoeh highlights the company “was publicly listed, implying
responsible stewardship of my assets.” Hammadoeh points out the
platform’s CEO, Stephen Ehrlich, was positioned as a veteran in
the industry, and “Voyager claimed to have full FDIC protection
on USD balances.”
Last week, the Federal Reserve and FDIC issued a joint letter
demanding Voyager cease and desist from making false statements
regarding its FDIC insurance status.
The customer admits he strongly considered withdrawing his
crypto in early June, but was “reassured not to” by a Voyager
press release which read: “The company is well capitalized and
in a good position to weather this cycle and protect customer
assets.”
Using half her proceeds from the sale of a family business, Lisa
Dagnoli, a mother of four, put over a million dollars in
bitcoin, ether, and USDC on Voyager’s platform. Now, she’s
outraged by the firm’s proposal to reimburse creditors in part
with equity and tokens for a new company.
“I take responsibility for investment and risk, but the Voyager
leaders and Voyager Digital, LLC needs to take responsibility
for giving us back what we are due, in full,” Dagnoli, wrote in
a letter filed with the court.
'The business is doing very well'
Like other customers turned creditors of Celsius Network who
have been interviewed by Yahoo Finance, a portion are calling
for the removal of Celsius’ management given its statements
leading up to June 12, when the company halted customer
withdrawals.
Celsius owes $4.7 billion to its customers and is facing a hole
of $1.2 billion between reported assets and outstanding
liabilities, its latest bankruptcy presentation showed. Earlier
this month, the company floated repaying customers through its
bitcoin mining subsidiary.
Robert Cominos, a Celsius customer of about one year who
“transferred about $250,000” onto its platform, claims in his
letter that interviews give by the company’s co-founder and CEO,
Alex Mashinsky, convinced him to make the move.
“The business is doing very well,” Mashinsky told a reporter on
April 13.
“Celsius is a magnet for yield, a magnet for people who want to
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