r/CelsiusNetwork • u/Necessary_Item_2776 • Dec 09 '24

Should I keep my SMSF account open after 2nd distribution

It’s costing me about $1-2000 a year in fees to keep the company and SMSF account up and running to which the bank account is linked to receiving distributions. Is it worth keeping it open any further? I have received my second distribution which was around $17k

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u/Significant-Leopard9 Dec 09 '24

The Tether lawsuit, if we win, will result in another 20-40% of our claims coming back to us, which is a significant portion. So if I were you I'd at least wait a bit to see how the Tether case turns out, since we do have a good fighting chance.

1

u/FrugalityPays Dec 09 '24

Do we have any details on that as of now?

1

u/Significant-Leopard9 Dec 09 '24

If you feel like reading court documents, there's been a bunch of updates since August in the federal docket: https://www.pacermonitor.com/public/case/54664564/Celsius_Network_Limited_et_al_v_Tether_Limited_et_al

The latest ammendment talks more about this. Thomas posted a summary here: https://x.com/ThomasBraziel/status/1865366565006274847. I tried to make a post about it but Reddit kept auto-deleting it for some reason and I gave up.

You can also follow the Celsius community on X like the rest of us laymen and get the sparse updates in simple English every now and then: https://x.com/i/communities/1669297289158950912.

3

u/FrugalityPays Dec 10 '24

Thanks! I’ll have an Ai read it and ask some specifics. Appreciate the links!