Crypto lender Celsius files for bankruptcy

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polonieth

Entrepreneur
No matter how many times people are told, not your keys, not your coins, they still seem to think picking pennies up in front a freight train is worth it.

The people who ran Celsius are scummy. The people that used the service were silly.

I mean fair enough if you have something spare and fancy a punt to earn some interest on it, then go ahead.

I staked some ETH with Kraken. Got cash in EMIs. All pretty risky.

But putting your entire stack into something like Celsius? Mental.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

backpacker

Entrepreneur
Hilarious
Many may find it hilarious. But it is the exact reason why crypto and everything related to it will face strict regulation. Everything crypto (except CBDC) will be rendered useless for the average Joe.
"Celsius" bankruptcy and the negative publicity it surrounds is a gift to all regulation-loving politicians. Not only Elisabeth Warren will make good use of the situation.
It is an easy sell to the public, considering all these stories of hard working Americans who are now living on their last pennie.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

Crypto Lender Celsius On Pace to Run Out of Cash by October​


---- quote start

Celsius Network, the crypto lender that filed for bankruptcy in July, appears to be in even worse financial straits than previously signaled.

A new court filing Monday from Kirkland & Ellis, a law firm the crypto lender hired to lead its restructuring efforts, included financial projections that Celsius will run out of cash by October.

The filing, submitted to the U.S. Bankruptcy Court for the Southern District of New York in advance of an upcoming hearing, also stated that the crypto lender holds $2.8 billion less in crypto than it owes to depositors.

---- quote end
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member

JackAlabama

Entrepreneur

Celsius Network execs made withdrawals pre-bankruptcy


Plus a lot of names are in the court files (which are very heavy) but there is this tool:

Happy spying. ;)
 

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