Celsius Users Fight It Out With Crowdfunding For This Battle

After Celsius filed for bankruptcy last month, the crypto community was in disarray with severe drop in prices. In recent times, Celsius users have been uniting to stage a fight for the return of their funds. Interestingly, the user community is increasingly getting involved in pursuit of legal fight. They have been using various channels through social media to unite users and collect resources.

Celsius Users Unite To Fight It Out For The Funds

According to a Bloomberg report, a Telegram group consisting around 1,000 Celsius users have been crowdfunding for their common cause. Not just Reddit, even Telegram and Twitter are now the focal points of discussion for the community of Celsius users. The communities are driving efforts for a legal battle by asking individual users to write letters to the judge on the Celsius case. They are also collecting funds for legal representation, the report added.

“The ‘Celsius Custody Accts’ group amassed more than 950 members on Telegram since being promoted on Reddit. Several dozen users have coughed up $1,500 or more to join the group’s committee.”

Through small donors, the crowdfunding campaign has so far raised over $3,000. Before the Celsius crisis unfolded and everything seemed fine with the community, users were quite active on social media. On the Celsius Reddit group, there are more than 47,000 active users, the report said. The same group has now become the center stage for a united fight for return of user funds.

Voyager Users Unite Too

In addition to the Celsius community, the Voyager account holder community is also quite active in their fight. As per the report, there is a Telegram group of users who invested $5,000 in Voyager. Members of the group share news and discuss possible lawsuits to intensify their fight for the return of money. In the first week of July, Voyager filed for bankruptcy. The crypto lender had exposure to hedge fund Three Arrows Capital. The firm had around $1 billion in assets with more than 1,00,000 creditors.

Anvesh reports major developments around crypto adoption and price analysis. Having been associated with the industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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