Post
Topic
Board Service Discussion
Merits 6 from 3 users
Re: Crypto lender Celsius mulls possible restructuring amid financial woes
by
JayJuanGee
on 17/11/2022, 06:42:31 UTC
⭐ Merited by o_e_l_e_o (4) ,Pmalek (1) ,Coin-1 (1)
Clawback:
I am extremely afraid of clawback stuff. I wonder how probable it is. And if there is presidence.
I am happy to give back all my yields. Giving them all my principal would ruin me. Especially cause i went from Celsius to ftx.
I am literally having a panic attack here.
How would that look like. I am non-us citizen in europe.

I doubt that there would be distinction between principle and yield, but there would largely be a look at whether the transaction was made within the 90 days prior the bancrupcy filing - and yes there is precedence for clawback, but it might not be easy for clawback to occur with all jurisdictions, and sometimes they would be threatening to take legal action.. but may or may not be able to actually successfully take legal action (and it may not be worth it for them to actually follow through with clawback legal action, except maybe transactions of a certain size).     

I doubt that you need to worry as much as you are dramatically proclaiming that you need to worry, even though with any case we sometimes need to prepare for any possible scenario, even worse case scenarios - but people go crazy and even come to the wrong conclusions and actions when they dwell on scenarios that are less likely to happen prior to the scenario showing solid evidence that some variation of it could end up happening.