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Jun 22 8 tweets 6 min read
@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)

IMPORTANT: Two types of loans.

- Institutions borrow stable coins w/ collaterized #Fiat (no risk)
- Institutions borrow crypto w/ collaterized stablecoins or #fiat. Note: As #crypto prices go ⬇️, the collateral covers a higher % of the loan (less risk)

- #CelsiusNetwork lends AND borrows stablecoins depending on cost of capital.
- Tether liquidated a #CelsiusNetwork #USDT loan. No details available. Note: Tether is a shareholder so closure likely coordinated.

- Closed a $750M equity round only 7 months ago!
- Largest #BTC miner in NA. Less AUM means more #BTC to cover fixed expenses.
- Owns @GK8_Security, a world leading custody provider tailored to institutions.

- #Celsius has a ST liquidity imbalance. Some coins take a big longer to get back.
- Withdrawal pause is part of Risk Mitigation.
- Collaterized borrow/lending is safest way to earn yield.
- Not FA, IMO they are in better shape than mkt thinks

Retweet 2fight FUD


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More from @jcc_ag

Jun 21
@CelsiusNetwork - A look forward:

- They come up w/ a plan to return $$ over time to anyone that wants to withdraw (highly likely IMO since they are illiquid, not insolvent)
- They stabilize the business (albeit smaller) while the market bounces back pre-election US

- $CEL continues to trend 🆙due to #CelShortSqueeze, slow release f/ App, higher trading volume, yield from cxCEL deployment, and more utility
- They uncover/prove coordinated FUD campaign & market manipulation that regains some of the trust lost (perhaps some $$ too)


- Launch free @Visa Signature credit card w/ $CEL benefits (Jul-Aug)
- Roll out on/off ramps in most US states (Jul-Aug) and abroad (Q4)
- Expand free #swaps (minimal spreads) to more countries (Q3)
- Create a #DAO to self-insure against counter-party risk (Q1 '23)

Read 7 tweets
Feb 13
@CelsiusXDeFi future is so bright!!

Mixing and matching ASSETS and PROTOCOLS to take your liquidity where it will be treated best represents such a massive market that it is difficult to grasp the potential.

It will be particularly beneficial to $CEL token.

@CelsiusNetwork team is not hyping this (conservative on the regulation side), but I see yield paid on $CEL going up in the next few months (along with its demand) as the #CEL treasury is more efficiently deployed.

Hope @Zach_HODL_ON and team are pushing to find added utility for $CEL in addition to being a liquidity generating asset (ie gas requirement?)

Read 7 tweets
Feb 2
Short story about my mother-in-law.

She is a 70-yr old Argentinean whose husband recently passed away. Worked all her life to raise 4 kids. Middle class. Her income consists of only a portion of her husband's pension fund that does not keep up with 50%+ inflation.

She had a small amount of US$ stored under the mattress to protect it from bank/government confiscation (as history taught her). I convinced her family to open a @CelsiusNetwork and deposit 75% USDC/25% CEL token.

Her USDC now earns ~10% & her CEL will soon earn 6%+. This generates enough yield to double her income & her funds are now protected. Now, waiting for swap function to buy her some #btc 😎

Read 4 tweets
Dec 25, 2021
In ‘18, I found @Mashinsky & @CelsiusNetwork. I believed in the mission & bought $CEL.

My first loan was supported by a signed document 🤯. It was early days. I watched #cel do nothing for months, but I believed.

Then, Series A came around and I doubled down. Thanks to Alex for allowing me (and 1,000 others) to participate at a low valuation.

I continued believing in the mission despite the bear market.

In 2021, the network grew exponentially. Some growing pains manifested. New products got delayed. FUD all over.

BUT I continued to believe in global financial inclusion and the @CelsiusNetwork community.

Read 8 tweets

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