How to Vote for Celsius Bankruptcy According to Reddit


Bankrupt crypto lender Celsius is holding a vote on its plan to sell assets to the Fahrenheit consortium, after a judge approved disclosures suggesting creditors can expect to recover 67%-85% of holdings[1]. The voting process is being supervised by New York Bankruptcy Judge Martin Glenn[1].

Tip: Aaron Bennett laid out in detail and suggestions on how to vote

Disclosure: Everything in this article is our (TheDroidGuy’s) interpretation of what Redditors MAY be suggesting. You must make your own interpretation by reading the Reddit posts (links below) to make your own conclusion. We are not making any recommendations. Everything written in this article is for informational purposes only. Please do your own research and make your own conclusions. Do NOT make any financial decisions based on this article.

Tips for Redditors with Over 100k and Under 100k

Over 100k

If you withdrew more than $100,000 from Celsius in the 90 days before the company filed for bankruptcy, you may be subject to clawbacks[2]. Some users on Reddit have expressed their intention to vote “no” on the plan due to the clawback issue[3]. If you are in a similar situation, consider joining the “Celsius Retail Clawback Protection” Telegram group to explore joint legal defense options[7].

Under 100k

If you withdrew less than $100,000 from Celsius, you still need to vote “yes” and not opt out to avoid clawbacks[4]. To do this, vote to accept the plan and do not check the Item 10 box (“By checking this box, you elect to OPT OUT OF the Third-Party Release.”) [4].


Clawbacks are a provision in U.S. bankruptcy laws that allow for the recovery of transactions within 90 days above $7,575[10]. In the case of Celsius, users who withdrew funds within 90 days leading up to the bankruptcy may be subject to clawbacks[12]. However, if you withdrew all your funds (over 100k) 3.5 months before the bankruptcy date, you may not be subject to clawbacks[14].

Voting Process

Celsius creditors have until September 22 to submit votes on the proposal, and the company intends to seek final court approval on October 2[15]. To vote, follow the instructions provided in the voting materials sent to account holders[9]. If you have a claim amount over $9,000 and are in the General Earn Claims, carefully review the voting materials to determine how to vote[8].

Additional Considerations

Before voting, it is essential to understand your specific situation and the potential implications of the plan. Consider discussing your options with a legal professional or joining relevant online forums to gather more information and opinions from other users in similar situations.

Voting Plan According to Redditors

Here’s how this Redditor is proceeding:

The redditor is explaining how they plan to vote on the Celsius bankruptcy plan with their claim of around $10,000:

  • They want to maximize the amount of liquid cryptocurrency they receive and avoid getting any Celsius stock.
  • They are not choosing the convenience claim option, which would give a fixed $3,500 in crypto. This would sacrifice too much of their claim.
  • Instead, they are selecting the crypto weighted distribution option. This will give them more liquid crypto (estimated around $4,782 worth) by reducing the amount of Celsius stock they would receive.
  • They acknowledge this will likely take longer to receive than the convenience claim crypto payout. But it maximizes the liquid crypto payout, meeting their goal to avoid Celsius stock and get as much crypto as possible.
  • They note the plan is complex with caveats, so recommending the person read the details themselves. But based on their claim size and goals, the crypto weighted option seems optimal.

In summary, the redditor plans to vote for the crypto weighted distribution to maximize liquid cryptocurrency from their claim and avoid Celsius stock, even if it takes longer.


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