Crypto lender Celsius has a controversial plan to get out of debt repaying its customers with a new IOU cryptocurrency.
According to leaked audio of an internal meeting at Celsius the now bankrupt company wants to Issue an IOU cryptocurrency to customers that signed up for some of its accounts.
Former employees verified the recording was legitimate, the audio is from an internal meeting on September 1st, so plans may have changed in the weeks.
Celsius Chief Technology Officer says this idea isn’t fully baked, the plan right now is in the early stage. basically, high level and it’s at the concept stage.
Later in the recording Celsius co- founder Goldstein planned for customers who deposited funds into its earn accounts those were the ones that promised yields as high as 17, he says the new IOU tokens will represent the ratio between What Celsius owes customers and the asset Celsius has available and says customers will benefit if they wait to redeem their tokens.
so the more you wait there’s a better chance that the Gap will be closed, however, you can always redeem he argues.
Celsius has Revenue coming in from their mining business and cryptocurrencies that may become more liquid and goes on to say that the tokens Can Be redeemed with Celsius for a haircut or on other crypto platforms like uni swap, this reimbursement plan isn’t the only thing in the works over there He said.