He also said he has participated in more than 10 Twitter Spaces related to recent crypto bankruptcies, helping small claim holders understand the procedures. Meanwhile, Thomas Braziel, managing partner at investment firm 507 Capital, which has bought up creditors' claims in previous crypto bankruptcies, said he's already involved in five Telegram groups organized by Celsius creditors alone. The idea is to exchange updates and “talk about possible lawsuits or anything else we can do to speed up getting our funds back,” one Reddit user said. It has 175 subscribers so far and is advertising for more members on Reddit. There is also a ‘Voyager Victims $5k+' Telegram group for customers with more than $5,000 invested in Voyager. About a dozen US states didn't allow the creation of Custody accounts, which is why customers in those states opened Withhold accounts, which should also be entitled to 100% reimbursement of their funds, she said. “If you band together, all of a sudden it becomes possible to retain good bankruptcy counsel and have a voice at the table,” said Deborah Kovsky-Apap, a lawyer at Troutman Pepper Hamilton Sanders LLP representing the group. Chief Executive Officer Alex Mashinsky had often held Twitter Spaces and weekly ask-me-anything sessions on YouTube.Īnother ad hoc group announced Thursday, representing Celsius Withhold account-holders, is also recruiting on Reddit, posting: “Guys we need to make sure the court is focused on Withhold accounts asap!” There are 63 members in its Telegram group at the moment. Pulling the group together was quite straightforward as Celsius had already put in the hard work of nurturing its community. The group's GoFundMe campaign has raised $3,275 to date, mostly from small donors. “It was kind of crazy for a group of strangers who just went through this huge process of losing their savings to say, ‘Let's band together.' Without this crowd funding approach, we wouldn't have been able to get legal representation.” “It was kind of neat - some of these guys were like, ‘I am skipping lunch today and putting $15 into GoFundMe instead,'” said Texas-based Little, who declined to say how much he had in a Celsius account.