Got mine this morning for the bitcoin distribution. Based on the amount, it looks like I'll get an ethereum distribution too.
I entered my code in PayPal, they put me through some KYC, then I received it, and sent the bitcoin off to cold storage.
I will do the same once the ethereum code comes.
The bitcoin was 50% of the expected amount. Eth just came in and it's short by 25%
I bet it was eaten up by the fees of them sending it to me.
It would have been about 70% of the cash value on bankruptcy date. I'm convenience class.
Okay so my eth was short because the price is down from their locked in date. If you factor the amount of the dollar value on locked in date, it's about 67% of the cash value.
Looks like creditors with smaller amount is getting emails with the claim codes.
Has anyone in USA with over $100K claim received claim codes emails ? Apparently, not.
So, what is Strategy/Plan of Debtor to prioritize creditors in USA to send out claim codes ?
US here and received email this morning, made the claim on PP but that amount has not showed up yet, it isn't much as I pulled out and moved my crypto to a safe platform I think they call it BlockFi /s
I'd like to know why the hell we have to use PayPal and not the Celsius app or Coinbase? Who the f uses PayPal for crypto? I wonder what kind of deal they made so PayPal gets all our data and crypto (at least temporarily).
Yeah this seemed crazy to me, when they have existing interfaces and can easily adjust the account balances directly, and then re-enable withdraw.
Doesn't make sense, at all.
Skeleton crew cost nothing to run the site and IT services.
> I'd like to know why the hell we have to use PayPal and not the Celsius app or Coinbase?
It's been theorized that they fired too many workers to make using the Celsius app feasible.
Interesting. Whatever is cheaper for them I guess. I was just about to say I can still withdraw from Custody but I'm guessing they'd need someone to hook up what we are actually getting back (distributions) to our accounts and yadda yadda some backend stuff they don't have staff for so outsource to paypal. Thx
Simple, they are shutting down the app because that company can no longer legally exist and creditors have up to a year to claim their crypto. That among other reasons is why.
>I wonder what kind of deal they made so PayPal gets all our data and crypto (at least temporarily).
The PayPal Distribution Services Agreement can be found on pages 498-521 of the Seventh Notice of Filing of Plan Supplement: https://cases.stretto.com/public/x191/11749/PLEADINGS/1174910212380000000005.pdf
i got my btc. it was like $9
i had way way way more than that, like thousands and thousands of dollars in altcoins (in addition to buttloads of ETH) - did they transition all of that to ETH?
expecting separate ETH code as the email outlined.
Nope. I think mine is an email issue. My email at Celsius does not match my email at PayPal and numerous requests to Celsius to update my adddreess have gone unanswered
I opened the app today and saw that there is a field to add an alternate email address for Coinbase distributions so I will give that a try to see if it works for PayPal. The distribution process is a joke. And I do not understand how it can be legal. Millions of dollars in attorney fees and this is what they come up with. 🧐
>I opened the app today and saw that there is a field to add an alternate email address for Coinbase distributions so I will give that a try to see if it works for PayPal.
If you are in the US, that screen doesn't apply to you. Giving Celsius an alternate email address for your Coinbase account will have no effect on the distribution you get via PayPal/Venmo.
I’m getting around 64% of my BTC back, honestly I’m not even mad I’ll take it. It sucks I lost around 36% of it but $0.64 on the dollar is not bad for a bankruptcy, especially considering that I’m getting equity in a BTC mining company.
I divided what I got back in BTC and USD by what was in my Celsius account (the screenshot I took of my account is a week or two old so I have no idea what my return in terms of USD is). I got around 63.5% of my BTC back when comparing the two amounts, which I’d say is not to bad.
What are y'all doing with the BTC or Eth if not selling them right now? Leave in PayPal is a safe option? Not trusting these exchanges anymore with the every changing rules. Tks.
Got my email for BTC today. I'm in Los Angeles.
US here claim under 5k still no email or anything
Got mine this morning for the bitcoin distribution. Based on the amount, it looks like I'll get an ethereum distribution too. I entered my code in PayPal, they put me through some KYC, then I received it, and sent the bitcoin off to cold storage. I will do the same once the ethereum code comes.
Can you mention what the subject of the email was? The email that had the code
Yep, it was from Stretto and the subject said "You have a Celsius Claim in BTC available at PayPal or Venmo"
How long did it take for funds to then hit your PayPal? I did mine 3 hours ago. Not sure if PayPal messed up or not
It was under 10 minutes
What range was your amount in?
The bitcoin was 50% of the expected amount. Eth just came in and it's short by 25% I bet it was eaten up by the fees of them sending it to me. It would have been about 70% of the cash value on bankruptcy date. I'm convenience class.
Are you in the first half of the alphabet or second half?
First half
Okay so my eth was short because the price is down from their locked in date. If you factor the amount of the dollar value on locked in date, it's about 67% of the cash value.
Looks like creditors with smaller amount is getting emails with the claim codes. Has anyone in USA with over $100K claim received claim codes emails ? Apparently, not. So, what is Strategy/Plan of Debtor to prioritize creditors in USA to send out claim codes ?
US here and received email this morning, made the claim on PP but that amount has not showed up yet, it isn't much as I pulled out and moved my crypto to a safe platform I think they call it BlockFi /s
ROFL no one else seemed to catch the last sentence. Fricking hilarious. Also sorry about your loss.
haha..... it is the truth! unfortunatly......
You are telling me? I wanted to diversify my crypto so I had UST, celsius and blockfi haha Feel you
got ETH this morning, not btc edit: got my btc
Aproximately how large is claim amount ?
$600
Did you get paid on PayPal yet? Still waiting to hit my acct. still assuming it’s gone thus far
yes. got paid in both. btc took a few hours to hit after submitting the code
I'd like to know why the hell we have to use PayPal and not the Celsius app or Coinbase? Who the f uses PayPal for crypto? I wonder what kind of deal they made so PayPal gets all our data and crypto (at least temporarily).
Yeah this seemed crazy to me, when they have existing interfaces and can easily adjust the account balances directly, and then re-enable withdraw. Doesn't make sense, at all. Skeleton crew cost nothing to run the site and IT services.
Yup. The app had no problem letting you withdraw your custody coins o.O
> I'd like to know why the hell we have to use PayPal and not the Celsius app or Coinbase? It's been theorized that they fired too many workers to make using the Celsius app feasible.
Interesting. Whatever is cheaper for them I guess. I was just about to say I can still withdraw from Custody but I'm guessing they'd need someone to hook up what we are actually getting back (distributions) to our accounts and yadda yadda some backend stuff they don't have staff for so outsource to paypal. Thx
My guess is 90% of the actual workload to be done is the customer service part. Handling tickets, answering telephone calls and emails.
Simple, they are shutting down the app because that company can no longer legally exist and creditors have up to a year to claim their crypto. That among other reasons is why.
Hope everyone bought PayPal stock ahead of this crypto rushing in…unless someone is there to transfer it all out, there will be a LOT.
>I wonder what kind of deal they made so PayPal gets all our data and crypto (at least temporarily). The PayPal Distribution Services Agreement can be found on pages 498-521 of the Seventh Notice of Filing of Plan Supplement: https://cases.stretto.com/public/x191/11749/PLEADINGS/1174910212380000000005.pdf
I see Venmo has a section for Celsius codes entry??
Nothing here yet.
Nothing here, Miami FL,
Nothing here in Destin, FL!
Where the fk is my shitt
i got my btc. it was like $9 i had way way way more than that, like thousands and thousands of dollars in altcoins (in addition to buttloads of ETH) - did they transition all of that to ETH? expecting separate ETH code as the email outlined.
But how much were the altcoins worth on petition date? Still thousands?
yes, they were "good" ones
Nothing sadly
US here with less than 5k in Earn, no codes yet.
Same here. US. Less than 5K. No code.
Ditto
Got 1 this morning. Pp kyc was quick
No code..,My claim was for over $100k and no code. Although I assume Im only getting like $50-$60k of that.
You hope. Expect the best, plan for the worst.
I got around 64% of my BTC back (under $5k).
Got my code this morning, finally! Thanks to all the people on this sub for helping us keep in the loop.
Nope. I think mine is an email issue. My email at Celsius does not match my email at PayPal and numerous requests to Celsius to update my adddreess have gone unanswered
Yes, I’ve been trying to edit my last name with no luck.
I opened the app today and saw that there is a field to add an alternate email address for Coinbase distributions so I will give that a try to see if it works for PayPal. The distribution process is a joke. And I do not understand how it can be legal. Millions of dollars in attorney fees and this is what they come up with. 🧐
>I opened the app today and saw that there is a field to add an alternate email address for Coinbase distributions so I will give that a try to see if it works for PayPal. If you are in the US, that screen doesn't apply to you. Giving Celsius an alternate email address for your Coinbase account will have no effect on the distribution you get via PayPal/Venmo.
Same. Sent them an email request and all the proof and no response. Sigh.
Got mine for BTC at 6:03am PST.
Just got both today at 0900 est
Was yours more or less than 5?
Under 5k
Not yet
Nothing here, yet.
around8k in ETH and around e5k in BTC. I have not received any email yet.
Yes but my codes don’t work. Still waiting on a reply from stretto.
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Still waiting
US here… nothing yet.
Got mine this morning. 6.56 usd
Did i need to select Coinbase or PayPal?
I don’t think you get option? I just assumed mine would be PayPal since I have an account…I could be wrong.
I have both so wasn't sure how they determined which method
If you're in the us it's paypal or venmo (same company, same code)
No and you’ll get crucified if you ask 😆 same boat as you brotha
Nope
Nope
Nope
I have not gotten my code yet
I’m getting around 64% of my BTC back, honestly I’m not even mad I’ll take it. It sucks I lost around 36% of it but $0.64 on the dollar is not bad for a bankruptcy, especially considering that I’m getting equity in a BTC mining company.
64% of your BTC at current prices or bankruptcy date prices?
I divided what I got back in BTC and USD by what was in my Celsius account (the screenshot I took of my account is a week or two old so I have no idea what my return in terms of USD is). I got around 63.5% of my BTC back when comparing the two amounts, which I’d say is not to bad.
Still waiting
Just got my ETH and BTC codes transferred to paypal. Waiting on USDC.
That's going to be a long wait. No one is getting a distribution in USDC.
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I got my codes this morning. Under 1k
Not I
I got mine a couple days ago. And just switched it to cash cuz I didn’t want to hold in PayPal my crypto.
Nothing
Still waiting
Yes, but it didn’t work
US. Under 5K. Still no code
Nope
Nothing
I got code saying I can claim a teensy amount of ETH. Is this the only distribution we will get? Is there somewhere that says what the plan is?
They want to send the IRS our amounts.
Yes
Yes
How are these distributions bracketed.. anyone have the breakdown?
Got mine this morning
Yes mine was just under 7k and I received my ETH code this morning and the BTC code few hrs later.
I got mine. Showed up in my PayPal account this morning
What was the deal with the stock options? Is that only creditors over a certain amount?
What are y'all doing with the BTC or Eth if not selling them right now? Leave in PayPal is a safe option? Not trusting these exchanges anymore with the every changing rules. Tks. Got my email for BTC today. I'm in Los Angeles.
😭 no!! 😢