#celsius flywheel of bullshit. Image
we have no external shareholders.....other than those external shareholders we have..ffs #flywheelofbullshit Image
What they say: we share our profits with the community
What they do: We retain 100% of communities assets and profits until you close your account. Image
What they say: we pay you interest weekly.
What they do: Punt your assets, accrue your interest until you close your assets.

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More from @intel_jakal

1 Dec
@newmoneyreview Well this is the next thing to look at....who actually paid for and were issued CEL tokens at 30c ....ftx and bitfinex I'm guessing between the three and their perifeey they would control literally the whole market...it trade a like a non bouncing dead cat.
@newmoneyreview CEL tokens issued 30cents went 10x by Q3-2020...Dec 2020 the last month of the financial period the price went vertical closing year out at $5.45. adding $2B to Celsius balance sheet....ironically rather than be penalised for issuing far more than market demand Image
@newmoneyreview they instead gorged their own balance sheet by holding in treasury. How anemic would this balance sheet be if the treasury shares were booked at cost (zero) or issue price (30cents). Image
Read 14 tweets
29 Nov
So the second you transfer any digital asset into a #celsius account beneficial ownership changes. Its no longer your asset. Image
This means your ability to manage risk becomes binary - either the assets are with Celsius or not with Celsius.
So what? As long as they pay out best in market returns why would you care? 1) Risk vs return. Bitcoin or bottletops, Buffett or Saylor- it doesn't matter who or what you can't disconnect risk from return.
Read 7 tweets
28 Nov
Today I wasted too much time trying to reconcile some fairly basic numbers for #celsius which was a bit frustrating and I was scratching around trying to work out where I'd gone wrong.
So I'll throw it out to twitter ..... Someone tell which one of these numbers on celcius.network/cel-token-expl… page is actually correct?
Ok its a bit of a trick question....As literally all of them are incorrect in one form or another.
Read 7 tweets
25 Oct
just got around going through #celsiusnetwork financials for Dec 2020 accounts. (see my previous posts re:$150m secured debt). I probably won't finish off the analysis until end of the week (pulling all the data into sheets is a pain). here's something to make you go 🤔
For clarity even though its a UK company all figures are in US'000.....which means the assets shown are US$4.709B and 'net assets' are US$1.44B.....I'll admit. once I realized the numbers were billions not millions....I was kinda impressed...
...I should say cautiously impressed....how did they go from $290M net assets to $1.5B in 10 months?
Read 18 tweets
11 Oct
I've been asked a couple of times how I was able to aggregate the daily #tether transparency pages so I thought I'd share the data.
Shared googlesheet >>> bit.ly/3iQ3W5U #OSINT
While you could scrape the html table direct from the transparency page its only provides the last 24hours.
Wayback machine captures the page multiple times per month. Use the IMPORTHTML function (USDT is "table 3")
web.archive.org/web/2021011213…
Tether gold is "Table 6". As XAUT is reported in 'oz' and note $ and only issued on Eth. The empty columns have been removed and converted to US$m using daily #gold price from gold.org
Read 5 tweets
12 Jun
@CasPiancey @BennettTomlin @ThinkPolOfficer One of the niftiest SNA I did on #quadriga's #paytrn was scraping #michaelxbt google+ links. I would have been able to pull even more degrees of connections if I had thought of it earlier.
Link analysis >>
bit.ly/3whv0j7
@CasPiancey @BennettTomlin @ThinkPolOfficer As the week I was pulling the data was literally the same week that google began to shut down the service. Over time the profile images also disappeared as I had just used the image lines direct from the google+ account
@CasPiancey @BennettTomlin @ThinkPolOfficer I remember there was quite a bit of interaction with #lifeboat's #ericklien. It was also obvious that he was pretty tight with that muppet #francispoiliut who nominated #patryn as a director for the #bitcoinfoundation.
Read 12 tweets

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