/biz/ - Business & Finance

LINKIES WERE RIGHT ALL ALONG ABOUT CELSIUS SHIRT SQUEEZE Anonymous Fri Jul 8 10:48:18 2022 No.50231907 [View]
File: 425 KB, 1125x1758, 397D6C61-D5C6-4801-AB92-5E449B9BE620.jpg [View same] [iqdb] [saucenao] [google]

Holy fucking shit. Read pic related court case recently filed against Celsius by one of the firms they hired to try generate profits.

They said that Celsius never tracked the underlying asset interest they owed customers, just the USD value at the time. So as assets rose in price they had absolutely no way to pay people back especially as they “often engaged in UNHEDGED PROFIT SEEKING WHICH LEAD TO BILLIONS IN LOSSES”.

So they are basically in massive LINK debt right now not just in customer liabilities but in terms of short positions on CEX and Defi protocols.

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