Crypto Analysts Criticize Optimistic Celsius Recovery Projections
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- Ben Armstrong questions the assumption of money reappearing on Celsius Network’s balance sheet.
- Recovery projections for Celsius Network are likely to be limited, with a potential net recovery range of $400 million to $800 million.
- Court documents reveal that Celsius Network did not properly record intercompany transactions.
Bitboy Crypto founder Ben Armstrong replied to a tweet by Thomas Braziel addressing the recovery projections for Celsius. He questions, “LMAO do you know how many years it will take to recover this? “
According to Armstrong, the assumption that money will simply reappear on the balance sheet is not accurate. Additionally, it is unlikely that individuals will willingly return funds. Furthermore, it is important to note that those with a net worth exceeding $1 million are likely to have the resources to s…
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