Simon Dixon, a prominent Bitcoin investor, spoke on a live stream about the bankruptcy filing of Celsius, one of the largest crypto lenders. Speaking from his position as an investor in over 100 companies in the crypto industry, Dixon shared a lesson he learned from the Bitfinex recovery plan, where a new token was issued to depositors in lieu of the lost funds. He noted the difference between a security and a token in this process, highlighting that security comes with certain rights. Dixon believes that focus on lessons learned is how we can focus on building a revitalized future for the Celsius community.
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Introduction: Welcoming special guest, Simon Dixon
In a recent live stream on YouTube, the host welcomed a special guest, Simon Dixon, from Bank to the Future. As an investor in Celsius and a spokesperson for the community-driven future movement, Dixon was the perfect guest to discuss the future of Celsius.
Background: Simon Dixon’s Role in the Crypto Industry
Dixon, who has been involved in Bitcoin from the beginning, shared his background in the crypto industry. He spoke at the first Bitcoin conference and wrote the first published book in the world to include Bitcoin in 2011. Dixon’s interest in Bitcoin started when he was trying to create a bank. He couldn’t create the bank he wanted because of laws in banking but found Bitcoin and started working on changing securities laws around the world. Through Bank to the Future, Dixon has 150,000 investors that invested in many different companies in the industry.
Celsius Bankruptcy Filing
The live stream also discussed the recent bankruptcy filing by Celsius. The host shared the news that Celsius, one of the crypto industry’s biggest lenders, had filed for a Chapter 11 bankruptcy in federal court in New York. The host asked Dixon for his thoughts on the filing and what it could mean for the funds of Celsius users.
Lessons from Bitfinex Recovery Plan
The discussion then shifted to Dixon’s experiences with the Bitfinex recovery plan. Bitfinex was hacked a few years ago, and instead of going under, they issued a token to their users and said that if they recover, it may moon because it is connected to their success. This is an example of a token instead of a security. Dixon emphasized the difference between a token and a security, stating that a security comes with certain rights, and tokens don’t.
Conclusion: Lessons for the Future
In conclusion, Dixon emphasized the importance of focusing on lessons to prepare for the future. He shared how in disaster recovery, they focus on securities and take processes that work in the traditional world and apply crypto innovation to them. The live stream provided insightful discussions on the future of Celsius, the difference between tokens and securities, and lessons from past recovery plans.
