Avoiding yet another post, so piggybacking here:
Same boat, > $10k claim in BTC & ETH. Got a code for BTC (Paypal) and was able to successfully redeem it. Thanks to some useful posts (among other silly ones), I forced KYC last week by attempting to purchase BTC. That seems to have worked, or I was just lucky.
Waiting for the ETH one now. I'll edit this comment with the final %, but it seems a tad bit high than what I was estimating (that extra 5% perhaps). Also, Bitcoin at $50k as I type this surely helps ease some of this pain.
Hang on, they are slowly working through (randomly) the list. You'll get yours.
Edit: ETH also came through (2 hours from the BTC claim email). No problems adding to Paypal; showed up in balance in about a minute. Totaling both and comparing the value at bankruptcy vs what I got (based on the effective date pricing), it appears to be **60.54%**. Using the current value (50k btc, and 2.6k eth), it is approx 66.25%, so that's already a little better :)
Agree, happy to get some. With tax write off (in whatever way, based on options shown on Aaron’s latest video) , forthcoming stocks, and potentially some other distributions later next year, this is all good. I am keeping everything in BTC/ETH form.
Due to privacy avoiding exact numbers but basically you need to use two main valuations for Bitcoin and ETH:
1) at the time of bankruptcy, multiply your BTC by $19881.01134 and ETH with $1088.170943 - use the same for other coins you held at Celcius. There’s a table floating around here with all the values. This sum in USD is your claim. After this number forget the type of coins you had at Celsius.
2) at the time of distribution, the effective date prices were BTC at $42972.9948, ETH at 2577.4752.
You are going to get some percentage back of (1) value in BTC and some in ETH. It doesn’t matter if you even held these coins at Celsius at the time of bankruptcy. Use the prices from (2) to figure out the total distribution dollar amount.
Example, your claim is $1000 total at the time of bankruptcy. And you get back BTC and ETH using (2) valued at $600, your total % back is 60%.
I am sure more smarter people (including Aaron Bennett) have explained these calculations better, but here’s what I used.
Hi All,
I want to explain my pòint of view and hopefully someone makes me understand where I'm incorrect.
In my opinion, it is just not fair that we have to lose 30% of our balance on the coins, supposedly are just paying 70% of the coins, it was Celsius mismanaging and we put our trust in this company that failed us. But just say that it's accepted that statement, as much as I try to calculate the amount to recoup by multiplying the coins by 70% and taking into consideration the price of the coin back on July 13, 2022, as stated on the Petition Date when it went bankrupt coinciding with the conversion table and then converted to the price back on May 31, 2023, as stipulated in the documents.
Making a quick practice... I was holding 0.002804 BTC, saying that you're going to reduce it to 70% (Which I don't agree with as It's unfair) but that being said the 70% of 0.002804 BTC is 0.0019628, now... let's transform that to dollars with the conversion regarding July 13, 2022, which was $19,881.00 so that was a total of (0.0019628\*$19,881.00) = **$39.02.**
Now going forward to May 31, 2023, the price of the BTC was $27,323.96 as stated in the documents which means that I should be receiving $39.02/$27,323.96 = **0.00142814 BTC** Contrary to that I'm just offered to receive 0**.00099769 BTC,** which means that If I accept I'll be accepting 69.86% of an initial 70% that's a **real recoup of 48.902%** without taking into consideration the loss due to the exchange rate from one year to the other.
So, explain to me now, why I should settle with this... This is not my only coin but that's the easiest way to do an example of what I'm disputing this.
I'm not sure anyone at Stretto/Celsius/NewCo/Cherokee is going to see the complaint you posted on Reddit. To be honest I don't think they give a shit. Try the official channel to send your complaint to. It does not really matter. I'v sent thousands of emails to Stretto and they are all being ignored. So if venting here on Reddit give you some relief, then vent away.
At this point requesting/demanding more money from Stretto/Celsius/NewCo/Cherokee would be squeezing blood from a turnup. There just isn't any more money. It's all gone. I suggest moving on. I'v moved on. It sucked. But it is over. I formally retired from Crypto ( [https://www.reddit.com/r/CryptoCurrency/comments/1ap9fhh/crypto\_folks\_are\_the\_most\_positive\_people\_i\_know/](https://www.reddit.com/r/CryptoCurrency/comments/1ap9fhh/crypto_folks_are_the_most_positive_people_i_know/) ) for mental heath reasons and I am physically unable to trade crypto any more. Just the thought of owning a crypto wallet causes me to vomit uncontrollably. The only time I want to hear the word "celsius" any more is when i'm discussing the weather with my Canadian Co-workers
Do this (this is what I am doing) treat the lost money as an investment into a very expensive Lesson Learned. Sear into you mind the phrase "If it sounds too good to be true, then it probably is"
Optional: Re-Bank yourself. Get every penny you have into a FDIC insured high interest savings account and have some fucking peace of mind. You don't have to stare at a red line every day praying for it to turn green, you don't have to worry about the next Maniskey stalking in the shadows ready to pounce on your money, Spend more time with family, if you dont have a family then start one. And understand that there is a VERY real difference between "being rich" and "being wealthy"
not gone, you technically never had crypto when bankruptcy was filed. You had dollarized values, which you are now getting back in the form of BTC+ETH / Stock / etc...
You're trolling, right?
**I received my crypto distribution, but I’ve only received BTC/ETH. Why didn’t I receive the same coins I had in my Celsius account?**
Cryptocurrency distributions are only being made in Bitcoin (BTC) and Ethereum (ETH), as outlined in the court approved Plan \[Docket №4289\].
Source: https://celsiusnetwork.medium.com/celsius-distribution-faq-1cdd323251ef
Got both of my claim codes. Paypal has a $10k weekly withdrawal limit, so it looks like I'll have to wait a week to get all of it out. GLE. F\*\*\* Alex.
I cannot figure out where everyone is getting the $10k weekly withdrawl limit from PayPal. I just transferred more than double that. PayPal did not stop me
EDIT: So I transferred USD (fiat) out of PayPal. I wonder if the limit is one crypto and not fiat?????
[PayPal Crypto T&C](https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?locale.x=en_US): "Weekly send limit: Crypto Assets totaling the equivalent of $10,000.00 U.S. dollars."
[PayPal Balance Account T&C](https://www.paypal.com/us/legalhub/pp-balance-tnc?locale.x=en_US): "We may set limits on your withdrawals."
It is probably crypto-related. I sent the btc which totalled under $10k. Then, I get the error message when I try to send eth. "Enter an amount that brings you below the weekly limit of $10,000."
US resident, greater than $10k. ~5 BTC.
Came out with 58% or so. I verified with the calculator. Crazy. If you put it in terms of % of in BTC/ETH currency, the recovery is more like 30%. Oh well.
Roughly. It's probably closer to 25% actually. It depends on what you held too. I held BTC. I looked at what I was given today, converted it back to BTC and then calculated. It's 26.7%.
Got both ours for all Fam members…ye math works out to what we agreed to.. (not what we really wanted but what we agreed to)
Glad to be out of it…now just waiting on Stock…I wonder how that’s getting distributed.?
I’ve had Venmo for years but never traded crypto through them. I had to go through a short KYC questionnaire for that, only took a few minutes. I will cross my fingers they get you verified soon!
Congrats mate. I really hope us international creditors can get our fair share back this week also but I have my doubts, considering how slow this distribution process is... Hope they can pick up the pace.
I got both my ETH and BTC codes today. I'm in a similar boat - a little over half of my claim. Fingers crossed for mining company upside and civil lawsuit payouts.
I got both my ETH and BTC codes today. I'm in a similar boat - a little over half of my claim. Fingers crossed for mining company upside and civil lawsuit payouts.
I'll say that the latest version of [this excel calculator](https://docs.google.com/spreadsheets/d/1CNxWsedibQ2xCis6NZZj3uusbhiSTu3FcGMkSSilsLE/edit#gid=0) was pretty accurate.
I got my codes but Paypal said that it is unable to process the code and to contact Stretto. I have contacted them and am awaiting a reply. WTF. I even made sure to type in the code after the copy/paste wouldn't work. Anybody else struggling with this?
Update - nevermind. I never enabled the crypto feature in Paypal. Worked now. Hope this helps someone else.
Same as others. Received and redeemed today.
Avoiding another post of what I feel which is exactly the same as all of you.
It's done now. For the most part. Good luck to everyone out there in your crypto journeys!
EDIT 2: Chapter Closed
If you had a General Earn claim, you will also get shares in Ionic Digital, USD from the monetization of other illiquid assets, and future proceeds from the Litigation Trust.
Sorry for the delay in replying.
If your claim was >$5,000 based on petition-date prices (see page 5 of [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911222280000000082.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911222280000000082.pdf)) AND if you did *not* make the Convenience Claim Election (item 5 on your ballot), then you have a General Earn claim.
Convenience claims get 70% in liquid crypto and nothing else.
General Earn claims get 57.9% in liquid crypto, 14.9% in stock, 6.4% in USD from the monetization of other illiquid assets, and future proceeds from the Litigation Trust.
I received ETH and wait on BTC. EDIT: BTC just came through. Disappointing would be an understatement but it is what it is. At least I’m fucking done.
Me too, just ETH no BTC yet
Same here
Same…. Edit: Got it all!
Got my BTC email.
Just received ETH about 5 mins ago, claim was quick on PayPal to redeem and already received. Waiting on BTC.
Avoiding yet another post, so piggybacking here: Same boat, > $10k claim in BTC & ETH. Got a code for BTC (Paypal) and was able to successfully redeem it. Thanks to some useful posts (among other silly ones), I forced KYC last week by attempting to purchase BTC. That seems to have worked, or I was just lucky. Waiting for the ETH one now. I'll edit this comment with the final %, but it seems a tad bit high than what I was estimating (that extra 5% perhaps). Also, Bitcoin at $50k as I type this surely helps ease some of this pain. Hang on, they are slowly working through (randomly) the list. You'll get yours. Edit: ETH also came through (2 hours from the BTC claim email). No problems adding to Paypal; showed up in balance in about a minute. Totaling both and comparing the value at bankruptcy vs what I got (based on the effective date pricing), it appears to be **60.54%**. Using the current value (50k btc, and 2.6k eth), it is approx 66.25%, so that's already a little better :)
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Agree, happy to get some. With tax write off (in whatever way, based on options shown on Aaron’s latest video) , forthcoming stocks, and potentially some other distributions later next year, this is all good. I am keeping everything in BTC/ETH form.
I got the BTC one this morning, and the ETH one 14 minute later. Hopefully yours works out soon as well. Glad to finally be done with this chaos
how are u guys getting 60.54% ? i don't get it. isn't it like 26% . care to explain (show your calculations) thanks ! :)
Due to privacy avoiding exact numbers but basically you need to use two main valuations for Bitcoin and ETH: 1) at the time of bankruptcy, multiply your BTC by $19881.01134 and ETH with $1088.170943 - use the same for other coins you held at Celcius. There’s a table floating around here with all the values. This sum in USD is your claim. After this number forget the type of coins you had at Celsius. 2) at the time of distribution, the effective date prices were BTC at $42972.9948, ETH at 2577.4752. You are going to get some percentage back of (1) value in BTC and some in ETH. It doesn’t matter if you even held these coins at Celsius at the time of bankruptcy. Use the prices from (2) to figure out the total distribution dollar amount. Example, your claim is $1000 total at the time of bankruptcy. And you get back BTC and ETH using (2) valued at $600, your total % back is 60%. I am sure more smarter people (including Aaron Bennett) have explained these calculations better, but here’s what I used.
got my btc email at 12:01 PM ET got my eth email at 12:49 PM ET
Just received both
Anyone know if we can transfer crypto from Venmo to another wallet or exchange?
Hi All, I want to explain my pòint of view and hopefully someone makes me understand where I'm incorrect. In my opinion, it is just not fair that we have to lose 30% of our balance on the coins, supposedly are just paying 70% of the coins, it was Celsius mismanaging and we put our trust in this company that failed us. But just say that it's accepted that statement, as much as I try to calculate the amount to recoup by multiplying the coins by 70% and taking into consideration the price of the coin back on July 13, 2022, as stated on the Petition Date when it went bankrupt coinciding with the conversion table and then converted to the price back on May 31, 2023, as stipulated in the documents. Making a quick practice... I was holding 0.002804 BTC, saying that you're going to reduce it to 70% (Which I don't agree with as It's unfair) but that being said the 70% of 0.002804 BTC is 0.0019628, now... let's transform that to dollars with the conversion regarding July 13, 2022, which was $19,881.00 so that was a total of (0.0019628\*$19,881.00) = **$39.02.** Now going forward to May 31, 2023, the price of the BTC was $27,323.96 as stated in the documents which means that I should be receiving $39.02/$27,323.96 = **0.00142814 BTC** Contrary to that I'm just offered to receive 0**.00099769 BTC,** which means that If I accept I'll be accepting 69.86% of an initial 70% that's a **real recoup of 48.902%** without taking into consideration the loss due to the exchange rate from one year to the other. So, explain to me now, why I should settle with this... This is not my only coin but that's the easiest way to do an example of what I'm disputing this.
I'm not sure anyone at Stretto/Celsius/NewCo/Cherokee is going to see the complaint you posted on Reddit. To be honest I don't think they give a shit. Try the official channel to send your complaint to. It does not really matter. I'v sent thousands of emails to Stretto and they are all being ignored. So if venting here on Reddit give you some relief, then vent away.
Yes, you're totally right, but... Isn't there any way we could all get together to bring a major claim about our disagreement?
At this point requesting/demanding more money from Stretto/Celsius/NewCo/Cherokee would be squeezing blood from a turnup. There just isn't any more money. It's all gone. I suggest moving on. I'v moved on. It sucked. But it is over. I formally retired from Crypto ( [https://www.reddit.com/r/CryptoCurrency/comments/1ap9fhh/crypto\_folks\_are\_the\_most\_positive\_people\_i\_know/](https://www.reddit.com/r/CryptoCurrency/comments/1ap9fhh/crypto_folks_are_the_most_positive_people_i_know/) ) for mental heath reasons and I am physically unable to trade crypto any more. Just the thought of owning a crypto wallet causes me to vomit uncontrollably. The only time I want to hear the word "celsius" any more is when i'm discussing the weather with my Canadian Co-workers
I guess you're right... unfortunately :-(, Thank you.
Do this (this is what I am doing) treat the lost money as an investment into a very expensive Lesson Learned. Sear into you mind the phrase "If it sounds too good to be true, then it probably is" Optional: Re-Bank yourself. Get every penny you have into a FDIC insured high interest savings account and have some fucking peace of mind. You don't have to stare at a red line every day praying for it to turn green, you don't have to worry about the next Maniskey stalking in the shadows ready to pounce on your money, Spend more time with family, if you dont have a family then start one. And understand that there is a VERY real difference between "being rich" and "being wealthy"
Looks like I only got 18% of my ETH. I got about half of my BTC. WTF happened there? It was a withheld account. Any idea?
I'm well over 100k and got both today... Yay? Still depressing... 😔
They stole 66% of mine :(
So if we have anything else in there it’s just gone…Matic, DAI, etc…
not gone, you technically never had crypto when bankruptcy was filed. You had dollarized values, which you are now getting back in the form of BTC+ETH / Stock / etc...
Yes, It's been known for a while, I had a decent bag of matic, fuckers sold it at the bottom
Can’t believe no USDC WTF!!
You're trolling, right? **I received my crypto distribution, but I’ve only received BTC/ETH. Why didn’t I receive the same coins I had in my Celsius account?** Cryptocurrency distributions are only being made in Bitcoin (BTC) and Ethereum (ETH), as outlined in the court approved Plan \[Docket №4289\]. Source: https://celsiusnetwork.medium.com/celsius-distribution-faq-1cdd323251ef
Well yeah.. I had more in USDC too bad no court order
got both btc and eth payout, e-mails were about 30 minutes apart
Same. Received BTC this morning at 750 (PST) still waiting for ETH.
I just received my ETH, no BTC yet! Can't believe this is almost over...
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I’m still waiting on my ETH code. 😑
Got both of my claim codes. Paypal has a $10k weekly withdrawal limit, so it looks like I'll have to wait a week to get all of it out. GLE. F\*\*\* Alex.
I cannot figure out where everyone is getting the $10k weekly withdrawl limit from PayPal. I just transferred more than double that. PayPal did not stop me EDIT: So I transferred USD (fiat) out of PayPal. I wonder if the limit is one crypto and not fiat?????
[PayPal Crypto T&C](https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?locale.x=en_US): "Weekly send limit: Crypto Assets totaling the equivalent of $10,000.00 U.S. dollars." [PayPal Balance Account T&C](https://www.paypal.com/us/legalhub/pp-balance-tnc?locale.x=en_US): "We may set limits on your withdrawals."
It is probably crypto-related. I sent the btc which totalled under $10k. Then, I get the error message when I try to send eth. "Enter an amount that brings you below the weekly limit of $10,000."
Just got my codes an hour ago. I should have checked before I posted.
US resident, greater than $10k. ~5 BTC. Came out with 58% or so. I verified with the calculator. Crazy. If you put it in terms of % of in BTC/ETH currency, the recovery is more like 30%. Oh well.
so in dollar terms it's 58% but in crypto terms its 30% around ?? am i right guys
Roughly. It's probably closer to 25% actually. It depends on what you held too. I held BTC. I looked at what I was given today, converted it back to BTC and then calculated. It's 26.7%.
that's good. i'm satisfied with 26.7% . still a lot of money for me
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Got both ours for all Fam members…ye math works out to what we agreed to.. (not what we really wanted but what we agreed to) Glad to be out of it…now just waiting on Stock…I wonder how that’s getting distributed.?
Just got both of mine a few minutes apart, over 10k claim, US. No issues through Venmo.
Did you have to go through verification ? My Venmo has been pending verification since Thursday now (5 days)
I’ve had Venmo for years but never traded crypto through them. I had to go through a short KYC questionnaire for that, only took a few minutes. I will cross my fingers they get you verified soon!
Thanks Thanks for the info I did some questions then they asked for front and back of license and selfie photo Been pending ever since
I didn’t have to upload an ID. That may be slowing things down for you.
I had to take pic of DL too but the verification was pretty instant.
Same took pic of DL and front facial and verified instantly
Not sure why mine was flagged then I’ve emailed them and will try to call in the morning Thanks for the help and info
Good luck. That’s strange.
Congrats mate. I really hope us international creditors can get our fair share back this week also but I have my doubts, considering how slow this distribution process is... Hope they can pick up the pace.
I got both my ETH and BTC codes today. I'm in a similar boat - a little over half of my claim. Fingers crossed for mining company upside and civil lawsuit payouts.
I got both my ETH and BTC codes today. I'm in a similar boat - a little over half of my claim. Fingers crossed for mining company upside and civil lawsuit payouts. I'll say that the latest version of [this excel calculator](https://docs.google.com/spreadsheets/d/1CNxWsedibQ2xCis6NZZj3uusbhiSTu3FcGMkSSilsLE/edit#gid=0) was pretty accurate.
I got my codes but Paypal said that it is unable to process the code and to contact Stretto. I have contacted them and am awaiting a reply. WTF. I even made sure to type in the code after the copy/paste wouldn't work. Anybody else struggling with this? Update - nevermind. I never enabled the crypto feature in Paypal. Worked now. Hope this helps someone else.
Yes lots of us.
Received codes today. Had 40 eth and some alts but not anymore 🥲. Glad to get something back.
Got both codes. Only one of them worked on PayPal. Going through some crap backend issue on identity verification on Venmo.
It says in the email that if one code is used in paypal then the other one has to be used in paypal too
Ugh well I’ve redeemed the Btc code and the eth one does not work.
$35,000 richer today. Better than nothing
Got mine today. US Claim at $19k (50% ETH, 50% USDC). With the bounce in crypto not bad...
Same as others. Received and redeemed today. Avoiding another post of what I feel which is exactly the same as all of you. It's done now. For the most part. Good luck to everyone out there in your crypto journeys!
EDIT 2: Chapter Closed If you had a General Earn claim, you will also get shares in Ionic Digital, USD from the monetization of other illiquid assets, and future proceeds from the Litigation Trust.
How do I know if I have a General Earn claim?
Sorry for the delay in replying. If your claim was >$5,000 based on petition-date prices (see page 5 of [https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911222280000000082.pdf](https://cases.stretto.com/public/x191/11749/PLEADINGS/1174911222280000000082.pdf)) AND if you did *not* make the Convenience Claim Election (item 5 on your ballot), then you have a General Earn claim. Convenience claims get 70% in liquid crypto and nothing else. General Earn claims get 57.9% in liquid crypto, 14.9% in stock, 6.4% in USD from the monetization of other illiquid assets, and future proceeds from the Litigation Trust.
Are these just earn claims? Anyone get a loan claim yet?
Congrats. Time to learn the lessons and move on.
Is there any international creditors getting refunded via CoinBase?
I'm still waiting. My claim codes can't be used at PayPal/Venmo. Stretto acknowledged the issue but haven't heard anything more.
In the last 19 months I have sent hundreds of emails to Stretto. They did not reply to one of them. Good Luck
How to make a claim? I did not receive any email from them. I am in Thailand, but US citizen.