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For reasons I don’t claim to understand, their token is still trading at about a third of where it was three months ago: https://coinmarketcap.com/currencies/c
by SilasX 4y ago
For reasons I don’t claim to understand, their token is still trading at about a third of where it was three months ago:
https://coinmarketcap.com/currencies/celsius/ https://coinmarketcap.com/currencies/celsius/
- amluto 4y agoThis happened with Hertz during bankruptcy. And apparently it wasn’t entirely nuts: https://www.forbes.com/sites/kevindowd/2021/11/07/how-hertz-went-from-bankrupt-to-buying-100000-teslas/?sh=94f1ae5d8bb5 https://www.forbes.com/sites/kevindowd/2021/11/07/how-hertz-...
- Aperocky 4y agoHertz had actual vehicles.
- jsemrau 4y agoAnd a lot of management disfunction.
- everfree 4y agoIt's not like Celsius has a zero balance sheet. They still have substantial liquid assets even if you discount the suspect ones. They just have a lot more more liabilities, thus the bankruptcy.
- loeg 4y agoAre the tokens a senior claim on any of their assets, though?
- everfree 4y agoNo. The CEL tokens are not securities, and do not represent any debt or equity. CEL holders are not entitled to any claim on Celsius' assets. The CEL token's sole purpose was as a tool to offer users promotional rates (and maybe for a bit of insider pump-and-dumping).
- TrapLord_Rhodo 4y agothat's not true. They claim the CEL Token as an asset. It should be a 5.3B hole.
- everfree 4y agoI don't understand how that contradicts what I said. CEL token holders are not entitled to any of Celsius' assets, like shareholders or bondholders would be. That's a separate issue from Celsius owing their depositors CEL as a debt. Those CEL creditors are entitled to Celsius' assets through the bankruptcy process, if Celsius cannot otherwise make good on that CEL-denominated debt.
- bigiain 4y agoHmmmm... Now I'm wondering if the Hertz thing would have played out differently in the current 2nd hand car market insanity? Could an asset stripper have liquidated the entire Hertz rental fleet at above new car prices?
- sbierwagen 4y agoTerra classic is still trading... at $0.00009 https://coinmarketcap.com/currencies/terra-luna/ https://coinmarketcap.com/currencies/terra-luna/ It had a big jump when Terra 2.0 was launched. (That coin is, inexplicably, still trading in the $2 range, by people who are looking to add a lot of excitement to their life.)
- SilasX 4y agoInteresting but I don’t see the relevance here? LUNA has fallen by enough that it’s a rounding error against assets. CEL (the Celsius token) has not.
- TrapLord_Rhodo 4y agoI've been shorting it. The markets don't have to make sense right away, but eventually they do. There's alot of corruption involved first. The old mantra of the market can stay irratiional longer than you can stay solvent is true only if you make a big bet. Make small bets that you believe in. For instance, shorting LUNA's stable coin once it slightly deppegged was a smart financial decision. Since it could only 'rePeg' back to $1.00, your downside was marginal but the upside was 99.9%. Jump capital (their biggest investor) and a ton of people at the Terra Luna foundation took that trade and made a killing. Similiarly with twitter when it was at like 50 something and the acquisition was 54.20. Minor downside, high upside if the deal doesn't go through. DYOR and whatnot.