Celsius DeFi ponzi collapsing

Discussion in 'Crypto Assets' started by Pekelo, May 27, 2022.

  1. Im deeply shocked at all this , as 99.9% of crypto persons are dignified and honest.

    ok , its only .9 % but who's counting
     
    #121     Jul 19, 2022

  2. Crypto portfolio? What % of your total is in crypto .
    We cant have you say it was only 10% when it goes to zero
     
    #122     Jul 19, 2022
  3. johnarb

    johnarb

    #123     Jul 19, 2022
  4. Starting from $250, I can believe it
     
    #124     Jul 19, 2022
  5. johnarb

    johnarb

    $100/BTC

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    Edit: you missed the slight nuance on the "over 100%". For that to be true, net worth would have been negative (more debt than assets)

    Borrowed from CC from the start to invest in BTC's
     
    Last edited: Jul 19, 2022
    #125     Jul 19, 2022
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    #126     Jul 19, 2022
  7. Pekelo

    Pekelo

    "Celsius also admitted at the 341 meeting that the company had never earned enough revenue to support the yields being paid to investors. This shows a high level of financial mismanagement and also suggests that at least at some points in time, yields to existing investors were probably being paid with the assets of new investors."
     
    #127     Sep 7, 2022
    NoahA likes this.
  8. Sounds just like what GM did before filing for bankruptcy & bailouts.
     
    #128     Sep 7, 2022