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I had been warning about Celsius for months, in fact I even published this blog post last year: https://rorodi.substack.com/p/the-biggest-crypto-lending-company
by janmo 4y ago
I had been warning about Celsius for months, in fact I even published this blog post last year: https://rorodi.substack.com/p/the-biggest-crypto-lending-company https://rorodi.substack.com/p/the-biggest-crypto-lending-com...
Also posted it here on HN but it did not get much traction.
What really baffles me is that major VCs have put hundreds of millions into what pretty much every one who has watched one or two episodes of "American Greed", would immediately recognise as being a ponzi scheme.
I e-mailed the regulators, the VCs etc... They did nothing, and now it is too late.
- xtracto 4y agoA friend warned me about them back a year ago: https://www.coindesk.com/business/2021/06/24/custodian-prime-trust-cuts-ties-with-crypto-lender-celsius/ https://www.coindesk.com/business/2021/06/24/custodian-prime...
- GoodJokes 4y ago
- epmatsw 4y agoSeems like the common thread in these failures is outsized “guaranteed” returns. Are there other large systems or companies still paying out double digit rates now?
- basch 4y agohttps://defirate.com/lend/ https://defirate.com/lend/
- janmo 4y agoYes: Bitfinex, Crypto.com. Nexo, BlockFi, Ledn. I predict that they will all eventually collapse. It is a bit delayed with them because there is a locking period for most of them, this means that they will be in trouble in the coming days/weeks as they will have to honour massive withdrawals.
- jansen555 4y ago
- leobg 4y agoGood work!