The Celsius Official Committee of Unsecured Creditors (UCC) is being accused of only representing their own interests and those of their counsel, White & Case, rather than the creditors of Celsius as they are supposed to. The group has hired White & Case as their counsel and is accused of allowing the clawbacks, which some are describing as being morally wrong, to happen. BitBoy Crypto is calling out the UCC and organizing protests against White & Case, calling on people to pressure them to stop the clawbacks, which are still pending at this point.
The UCC’s Failure to Represent Celsius Creditors
The plot is thickening when it comes to Celsius and clawbacks. Fact is, the Celsius Official Committee of Unsecured Creditors, or the UCC, is supposed to be representing us, the creditors of Celsius. However, it seems like they’re only going after their own interests and the interests of White & Case. White & Case, of course, the thugs who kicked me out of their building and sent people to my house to threaten me, are obviously the enemies here. However, the UCC has the power to overthrow them.
The UCC and Its Responsibility towards Celsius Creditors
The UCC, as stated in their statement, should be a “vigorous participant in the Debtors’ bankruptcy and to put the interests of the Debtors’ account holders and unsecured creditors first.” However, their ability to do so is questionable. The group has hired White & Case, the most corrupt law organization in the entire world, as its counsel.
Preventing Clawbacks in Celsius
The issue of clawbacks is morally wrong. The clawback is supposed to protect users on the platform from insiders, people that worked at Celsius and had inside information that they were insolvent, so they took their money off the platform as the ship was going down. However, many people saw the rumors circling around on Twitter and they removed their money because they were scared, exactly what they were supposed to do, and yet they’re being punished. Preventing clawbacks is such an important case that we have to stop these from happening by applying pressure to each and every member of the UCC and to White & Case.
Organizing Protests around White & Case
If the UCC and White & Case continue to go after their own interests rather than the interests of Celsius creditors, protests around White & Case can be a good way to voice our concerns. The longer we let this continue, the worse it will get for all Celsius creditors. Therefore, we need to take action and do it now!