Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#1

Post by ekpyrotic » Thu, Oct 06, 2022, 3:00 PM UTC

Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers
gizmodo.com

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#2

Post by a2tech » Thu, Oct 06, 2022, 3:27 PM UTC

gasp I'm shocked, absolutely SHOCKED, that people involved in crypto would be scam artists.

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#3

Post by atty » Thu, Oct 06, 2022, 3:27 PM UTC

The irony of the CEO’s t-shirt in that photo is… staggering.

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#4

Post by black_13 » Thu, Oct 06, 2022, 3:29 PM UTC

No post body was provided.

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#5

Post by syntaxing » Thu, Oct 06, 2022, 3:37 PM UTC

Crypto is pretty much speed running our existing financial institutions’ past history.

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#6

Post by MichaelCollins » Thu, Oct 06, 2022, 3:37 PM UTC

People surprised by this might be the sort of people who try to cuddle a porcupine and are surprised when they get stabbed. That said, we have laws designed to protect stupid people from those who prey on the stupid, so I hope these execs get the book thrown at them.

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#7

Post by dvngnt_ » Thu, Oct 06, 2022, 3:38 PM UTC

a2tech wrote: post #2

gasp I'm shocked, absolutely SHOCKED, that people involved in crypto would be scam artists.

would be or could be?

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#8

Post by potamic » Thu, Oct 06, 2022, 3:39 PM UTC

It's one thing to pull some elaborate and complex fraud, but you'd have to be really stupid to do such blatant insider trading in broad daylight. Are they taking calculated risks in doing this because surely they're getting prosecuted and having all their money taken away as well?

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#9

Post by geophile » Thu, Oct 06, 2022, 3:40 PM UTC

I don't follow crypto, so these are actual questions, not trolling:

- If Celsius is a trading platform, how can Celsius itself owe anybody anything?

- My naive understanding is that cryptocurrency, being based on blockchain, is a log of universally agreed upon, legitimate transactions. So how can there be a liquidity crisis at all, let alone one in the billions? How is the platform allowing transactions not backed by actual funds?

Re: Celsius Execs Cashed Out $40M in Crypto Before Halting Withdrawals for Customers

#10

Post by dleslie » Thu, Oct 06, 2022, 3:41 PM UTC

syntaxing wrote: post #5

Crypto is pretty much speed running our existing financial institutions’ past history.

any% noreg tas