Discover and read the best of Twitter Threads about #celsiusnetwork

Most recents (24)

1/14 Celsius repeatedly represented that it was better than a bank, frequently using the hashtag “#unbankyourself,” and that Celsius customers could gain “financial freedom” by joining Celsius. Celsius explained on its website that “P2P,” which

Pages 244-246
2/14 typically means peer-to-peer, instead signals financial freedom: "At Celsius, we believe P2P stands for Power to the People.” Likewise, in 2018, Mr. Mashinsky posted to Twitter that “P2P for
3/14 me means #Power2ThePeople,#Cryptocredit & #FinancialFreedom by the people for the people! #CelsiusNetwork.” Celsius posted to Twitter: We're providing a platform of curated services that have been abandoned by big banks — things like fair interest, zero fees & lightning
Read 14 tweets

From the latest #Celsius Coin Report:

Total Coin Liabilities: $4.7b
Equity: ($1.2b)

Taking the ratio of the two numbers we get:

Size of Hole: 25%

That is the value missing, and the remaining 75% is still in the estate. Image

Bankruptcy Law is clear.

Any plan, whether by TradFi or not, must return at least 75% back to creditors in order to meet the threshold defined in the clause below.

Anything short of that will not be approved by the judge. Image

So if 75% of the value is still there (not including the intangible value of the business, tech stack, and community), then any plan should provide at least 75% back.

Those creditors that are selling their claims today for the measly 15-17% are literally being scammed.
Read 6 tweets
that 15,427 page #GK8 document filled with #CelsiusNetwork's creditors personal detail is quite an amazing document.
i have so many questions, but let's start with:

1. Why are there an enormous numbers of creditors in countries GK8/Celsius aren't supposed to do business with?
Corporate entities in the #CelsiusNetwork / #GK8 / #GK8Limited bankruptcy, pt. II. Noticed:

➤ Ernst & Young (maybe?)
#KPMG (#Wirecard's dad)
@TheBlock__ ("journalism")

@AABerwick @kadhim @Frances_Coppola
Read 14 tweets
2022 was the victim of many major #crypto crashes, but three of them stood out the most.

#LUNA\#LUNC | #FTX | #CelticFC

Here's a thread! 🧵👇
2- Let's start off with the infamous #TerraClassic, which saw its token at the time, $LUNA (now known as $LUNC) crash from $86 to under $0.01 in just 48 hours which caused $LUNA holders to lose a total of $60 Billion.
3- What happened? Well, over $2 Billion #TerraUSD $UST was unstaked from #AnchorProtocol and many millions of dollars swiftly became liquidated.

#TerraClassic still exists to this day and their community of #LUNAtics still believe in its future, but do you?
Read 7 tweets
I love @MikeBurgersburg dearly, but he wasn't the the first to draw attention to problems at #CelsiusNetwork. I was, by more than 6 months. And he wasn't the first to declare Alameda insolvent, either. Again, I was. Why am I being ignored, @taylorlorenz? @washingtonpost
In April 2021, I wrote detailed threads about Celsius in which I took their terms of service apart, examined their published accounts, and analysed their marketing material. I warned people then that it was taking huge risks with people's funds and was possibly insolvent.
I took massive amounts of abuse from Celsians for these threads. Among other things, they accused me of being paid by Coindesk to discredit Celsius. I write for Coindesk, but I'm not employed by them. I would never do hit work for them or anyone else.
Read 4 tweets
Don’t forget that #tether invested in #celsiusnetwork
Celsius banked with #deltec and cashed out #ftx for $150m just before the ship went down.
Don't forget #deltec's bestest operator. gamer boy #pepin.
Read 12 tweets
Although some of my funds got caught in #ftx as I thought they would be able to provide more liquidity I warn many people to remove most of their funds as I consider them to be crypto insolvent, was I delusional back then? @iTzAnthonyNap @otisa502 @CEL__100 #CelsiusNetwork 1/7 🧵
Me commenting about @cz_binance warning. #CelsiusNetwork 2/7
Recommending @binance 3/7
Read 7 tweets
24- Multiple influencers started gaining a lot of followers & praising @SimonDixonTwitt while at the same time started attacking the #CELShortSqueeze looked extremely artificial. @TheFinancer
25- Both S. & @ThomasBraziel did not tweet or retweet @ FTX about naked shorting & instead attacked the #CELShortSqueeze cuz of coordination & for being illegal went this is retail & grassroots. While naked shorting which is x20 worst they are silent
26- Accused #CelsiusNetwork of being a ponzi which it isnt by any means
27- Accused the #CELShortSqueeze that it is a pump & dump which it isnt by any means & ignore all the manipulation happening
Read 8 tweets
(1/3) The following is my proposed Celsius recovery plan I would like to share with @Mashinsky 🧵

1. Firstly, YOU MUST apologize to the entire community, and be upfront on what happened, we need the truth.

2. Communicate how much the damage is. Are depositers down 50%, 80%?

3. Publicize a recovery plan to make depositers hole using Celsius mining revenues over the coming years plus other revenue lines + access to equity

4. Let users withdraw with limited monthly allowance and fees, this is critical as many were dependent on Celsius rewards
(3/3) With a detailed recovery plan, Celsius should be able to make depositers whole and recover fully out of this. Bankruptcy is not the solution. Over and out.

@TheRealPlanC @otisa502 @Zach_HODL_ON @nhirsch @CeljayCel @JoshHODL @pr_simondixon @SimonDixonTwitt #CelsiusNetwork
Read 3 tweets
1/ My dear Twitter friends, I gotta admit yesterday I've been scammed for about 500 USD worth of Ethereum. I want to share this with you because I'd like to protect anyone from these things.

I'm not rich so if anyone wanted to help me recovering I'd feel glad and blessed.
2/ And, most of all, nobody is 100% on internet, even if you think to be stronger or smarter than the scammers out there.

This is my story: I've found this website (that was perfectly cloned) about @sneakerheadsoff , which promised a free mint of an art NFT.
3/ The mint had only the fee of 0.25 ETH. I checked the Twitter and it seemed ok (also the Twitter was cloned and had more than 69k followers)
So I connected through the free mint contract and the contract always asked me for a higher amount than what I had.
Read 9 tweets
I am old enough to remember Carillion calling its problems a "liquidity crisis" and asking HMG for a short-term loan to tide it over. It was actually so deeply insolvent that it couldn't even pay an administrator, so it went straight into liquidation.
Looking back further, I recall RBS insisting its problems were due to "liquidity shortages", as the value of its assets crashed and it slid deeper and deeper into insolvency.
And even further back, Northern Rock tapped the Bank of England for "emergency liquidity assistence" when markets refused to fund it. It, too, turned out to be insolvent.
Read 4 tweets
@CelsiusNetwork - Risk Assessment

- Minimal exp to #UST (Pulled out of #Anchorprotocol early following risk mitigation process)
- No directional exp to #luna
- No forced selling of stETH at discount (withdrawals paused & @Mashinsky stated 'plenty of ETH').

- Current Discount is 5.4% (and closing) on ~$400M-$500M = ~$25M
- Discount represents ~0.25% of $10B in AUM.
- Discount likely has a floor (arbitrageurs/speculators will intervene as PoS date approaches).
- Plenty of FUD online around this low risk exposure.

- Over-collaterized retail lending (no risk)
- Nearly 100% collaterized institutional lending (including potential loans to #3AC directly or indirectly)
- On-chain borrowing is known & public. Liquidation levels have been lowered/loans repaid (situation stabilized)

Read 8 tweets
Fact check: Did @CelsiusNetwork actually purchase $CEL to distribute last monday?

Yes they did, on FTX, OKEx, Bitfinex and Gateio. As far as I can tell based on blockchain data, the following wallet analysis clearly indicates that they did!

#Celsius #CELshortsqueeze
I can't guarantee anything, but the collection address (blue, center,…) was last used solely to collect $CEL from exchanges and send it to Celsius Wallet 5 (CEL user balance wallet).

Even better, more $CEL have already been purchased since last friday! So I assume @CelsiusNetwork still has funds to purchase the weekly $CEL.😎🚀

This is just my analysis, not financial advice.

Feel free to retweet if you agree 😉

#CelsiusNetwork #Celsius #CELshortsqueeze
Read 4 tweets
Did we? Did we just drain all $CEL out of (-97.4%)? Hell we did!😎😂

Update for $CEL on major CEX, now approx 8.16M in total (-1.56 million $CEL compared to 06/18/22, 1100UTC, awesome 🚀🚀🚀)

#CELshortsqueeze #Celsius #CelsiusNetwork Image
on FTX, the shorters are under heavy pressure too!

CEL_PERP: Open interest 13’421’900 CEL, funding rate -0.1406% (1231% APY)

Interest rate for $CEL borrowing on FTX: 2600%, CEL borrowed: 4.074M

#CELshortsqueeze Image
@gate_io Would you be so kind as to let us know if you have any other $CEL addresses?

Wallet1:…, 6950 CEL

Wallet2:…, 0 CEL

Wallet 3:…, 0 CEL

Your order book right now: #nakedshorting? 🧐
#CELshortsqueeze Image
Read 4 tweets
Crypto winter is freezing. @CelsiusNetwork is likely insolvent. Giant #cryto hedge fund is liquidating.

Here is what's happening: 🧵
4 things impacting crypto markets:
1. Macro - increased inflation and rate rise are having a magnified impact on high risk assets like crypto.
2. Celsius catastrophe - it's likely insolvent
3. @binance halting $btc withdrawals - spooked the market
4. 3AC liquidating
Celsius liquidation is a big deal because:
1. Causes forced selling of assets at distressed prices from many market participants.

2. Contagion. Plummeting prices are causing margin calls for everyone. 3AC is an example.

2. Another black eye for crypto.
Read 12 tweets
🚨BITCOIN Vuelve a Desplomarse🚨
🚨¿Qué está pasando?🚨

El precio de #Bitcoin sufriendo una caída histórica que le sitúa ya a más de un 73% de su ATH que alcanzó en Noviembre del año pasado, pero, ¿por qué no para de caer?

Abro Hilo 🧵🧶 1/
Tras lo ocurrido con #CelsiusNetwork y la caída de #BTC a 20K, niveles que no veíamos desde finales de 2020...

Por primera vez en la historia, el precio de #Bitcoin ha caído por debajo del ATH del anterior ciclo en 2017 👀 Image
Una situación que ha vuelto a hacer saltar las alarmas en el mercado #Crypto y que ha provocado un aumento brutal del sentimiento del miedo entre los inversores...

Con el gráfico de miedo y codicia llegando a 6, su segundo nivel más bajo solo a 1 punto del All Time Low... Image
Read 13 tweets
1/17 For those that love to read, here’s the transcribed version of what @lb_westernston said: “Good day, my name is Lak Behl and I want to talk to you about the CEL token short squeeze that is going on right now, that is possible right now, in June of 2022. #CelShortSqueeze
2/17 “I want to give you some tips on top of what you’ve already seen. Now, you may have seen this video by this anonymous guy that talks about how #CelsiusNetwork’s CEL token is ripe for a short squeeze. If you’ve already seen that video, congratulations. If you haven’t, there’s
3/17 “a link to that video in the description below, so you want to watch that video once you’ve watched this one. Basically, what I want to communicate is that you need to take your CEL tokens out of exchanges like FTX and so on and so forth.

Read 19 tweets
This Lido fiasco has created a mess of everything and for no reason, ETH is suffering, and most importantly users

There are different versions of this story but more or less it's close to what I could analyze
This liquid staking concept i.e, the derived asset itself works as a full-fledged tradeable asset with other utilities like lending, staking, etc.

It's more like the US housing market collapse in the 2000s
Here is one version of the story:

At Lido, stake ETH and get stETH in a 1:1 ratio. Now use that stETH for other purposes

On the other hand, Lido generates money using stETH through lending/borrowing, arbitrage, and other trade opportunities

So far so good
Read 9 tweets
¿Cómo evitar quedarte atrapado en liquidaciones y bloqueos como lo ocurrido con Celsius?

Hoy vengo a daros unos pequeños tips que podéis seguir antes de invertir vuestro capital en cualquier proyecto cripto, en especial NFT.

Dentro 🧵 Image
1. Términos y Condiciones (T&C)

Los T&C son un conjunto de reglas y normas que los clientes debemos aceptar para comprar un bien o contratar un servicio.

Estos, solemos aceptarlos al crearnos la cuenta en la plataforma o al contratar el servicio, si no es necesaria la cuenta.
2. ¿Por qué son importantes?

Porque son un contrato de adhesión que una vez aceptados, quedamos sometidos a merced de lo establecido en los T&C.

Es decir, son la base jurídica que rige sobre todo el proceso de compra, pago, depósito de fondos, earn, etc.
Read 13 tweets
看到 @cryptoprag 总结得底部信号指标比较好,记录一下:

1. 大机构爆仓✅
看看 #3AC #CelsiusNetwork #LFG , 虽然后者还不清楚是不是主动作恶,还有之前也爆掉的一些知名大户,身边活了多年的老韭菜居然也有归零的...
2. 行情极度的无聊❌
需要等到白没人接,白mint直接亏,free mint gas不舍得花了
3. SMA200 周线打破❌

4. 散户失去兴致✅
Read 13 tweets
#TetherIsInsolvent, part 2. this is a followup to analysis @patio11 (link) and i did independently showing #Tether must be insolvent based on Tether's stated financials due to the crypto selloff. But this time... it's about foreign exchange rates.…
On May 19th #Tether announced that it had reduced its commercial paper reserves by $4.3B between 2021-12-31 and 2022-03-31 and that they had reduced their paper another 20% ($4B) since that March 31 "attestation" was done. Here's their press release:…
@ZekeFaux did some (maybe pulitzer-worthy) reporting for Bloomberg in Oct '21 where he reported he could not find anyone at a major bank who had sold tether any paper, and further that he had seen documents stating that at least some % of tether's paper was from Chinese companies
Read 19 tweets
#Celsius / $CEL Best Employees.
(will include more in this thread.)

Meet Jessica Khater, 24 years.

At 20 years she shots an amateur adult movie in which she didn't even knew her major.
@CelsiusNetwork hired her shortly after 21 to 22 as Marketing Assistant.
She quickly proved herself as much more becoming Head of Institutional for #celsiusnetwork managing $2.2 billion in loans.

Meanwhile she was already in a relationship with her new and current business partner Bert Mouler.

Profluent Ventures on which is now 'General Partner'. ImageImageImage
Meet, Yaron Shalem, 49 years, ex-CFO #CelsiusNetwork
On on November 18 as part of an alleged crypto scam that defrauded victims worldwide of colossal sums of money.

Projects that he was involved Sirin Labs, Stx Technologies Limited (Stox) and Singulariteam. Image
Read 4 tweets
The reason @CelsiusNetwork is not at risk is that they are responsible for #crypto commodities not valuations. They provide liquidity to markets in the form of a commodity.

The value of the commodity decreasing doesn’t matter.

In fact, outside of #Luna and its #UST pair, the underlying commodity #CelsiusNetwork has is still the same.

And the yield it provides is a commodity relationship — not a valuation one.

Thus, users receive a stable amount as yield because the yield contract is stable.

If I offer you sugar on an exchange and the price goes down on it, I still own my sugar. Someone else may have determined my sugar is worth less — but that’s not the risk at hand.

The commodity itself is intact.

Read 15 tweets
I've updated the #tether attestation #googlesheets analysis. A few changes including fixing a glaring error 😳 #commercialpaper analysis h/t to @accountantInc catching the mistake. Document consolidates all reported quarters to date >>>
The #tether #commercialpaper section has been expanded/updated to show not just the net changes but the new issues/rollovers etc....
The purpose of the #commercialpaper analysis was to highlight that the reported $6.4B reduction in CP was only half the story....and it kinda shits me that the numbers are just trumpeted by most news as is...
Read 11 tweets

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