/biz/ - Business & Finance

>>49787942
sauce?

>>49787942
Can you please link how you know this?

>>49787942
i have no money there, why should i care?

>>49787949
>>49787975

>>49787949
>>49787985
They managed to decrease it to $13.6k now. But you can follow it here:
>https://oasis.app/25977#Overview

i know one guy at my work that has a very large portion of his money in celsius because he believes crypto is the future

>>49788091 as meant for >>49787975

>>49788091
Sophisticated players, not just traditional crypto funds, will be hunting their liquidation. There is so much fucking money to be made from shorts and when there's blood in the water the sharks just can't resist

>>49787942
I can only get so hard anons. Just imagine the glorious glorious meltdown.

>>49787942
That's mathematically impossible

>>49787985
Because it increases the incentive for BTC to drop below $14k. Also gives an idea on the state of these platforms, how underwater they are, and why these drops in price have such cascading effects.

>>49787942
Us bears will feast on its corpse.

>>49788021
so they're 38% away from getting liquidated, and we had a 9% drop in the last day? ohhhh boy

>>49788229
>why these drops in price have such cascading effects.
Also it paint a huge target and huge players can make profit with Soros like shenanigans. I believe that blackrock had its fingers in the Luna affair, has its fingers in the tether wobble and is actively pushing to stress-test and if possible liquidate any leveraged players and platforms.

>>49788194
no man should be this comfy

does anyone not understand how the FUCK a crypto company bets its self on the price not going down? Did they just enter this cycle? Do they not have charts? Do they not read?

>>49788021
KAM ON DROP SOME FUCKING QUIDS

KAAAAM OOOOOON FUCKIN POOFTAS

>>49788659
>look at the historical charts
>browse /biz/ for a week
>read a few bullish articles
Yup, the price floor is the previous cycle's ATH, nothing could possibly go wrong!

>>49787942
It's a weekend so they're almost certainly just not working. Fuck em I guess.

aeeeeeeeee

>>49788659
they appointed a porn star with a mere business admin degree and 0 work experience as their "head of institutional lending", managing a $300 million portfolio

https://www.forbes.com/profile/jessica-khater/?sh=1a598fa4724d

>>49787942
>he bought margins

Tell me you’re poor without saying it.

>>49788021
>>49788091
can't wait to see /biz/ coping with bitcoin going under 10k in a week or two

>>49787942
So they didn't already get liquidated? How did they lose everyone's money then?

>>49789453
They're using everyone's money as collateral to lower their liquidation price.

>>49788659
This is how ALL finance works, it's just exaggerated in crypto due to immaturity and volatility.

>>49789453
>>49787942
did Mashinsky say anything about this in the statement made in the AMA yesterday?

>>49787942
companies like celsius, microstrategy, etc. don't get liquidated at a specific price
as the price of crypto goes down, they give up crypto as collateral, which gets market sold
these feedback loop will continue until crypto companies close their doors
there's literally no difference between bitcoin at 20k, 18k, 10k, and 2k, they're just different times on the same chart.

>>49789513
if you have the time, watch it yourself
https://www.youtube.com/watch?v=akHW8Xen4Cw

>>49789702
Reminds me of Tzuyu's apology to China

>>49788021
Holy shit lmao

They are fucked either way, if they open withdrawals 95% of customers are instantly gone forever and no new ones will come. So for the head scammer it’s either slowly pay them back, going broke himself and still being ruined forever, OR take the money and run, and declare he is “bankrupt”.

>>49788659
They took out stablecoin loans to increase lending interest revenue, if we are to believe they stuck with their prior operating model when account statements were made public via the UK company. When you have enough liquidity to adjust loans alongside market movements, that's generally not a problem, but when your available convertible USD dries up then you run into serious issues.
This
>>49789665
is correct if we are to take Celsius at their word (which is tenuous at the moment). Their business model involves lending out assets with a mostly 1:1 like-like ratio, so they aren't exposed to price differences created lopsided ownership in assets that loses 1:1 account for AUM. The reason they can take out DAI loans is not because they are making market plays or swapping or other assets (though if they are, this is a sure way to insolvency in a bear market), but because DAI yield on lending is higher than most of the assets on their platform.

They'll just keep moving it down. They have enough customer funds to do that, at least.

>>49789955
how would he pay anyone back? they were generating yield with shitty assets that are gone

>>49788021
I just noticed this, why not withdraw the 9100 BTC now and pay some back to everyone and go from there? I am sure that won’t work somehow but I am slow with the whole liquidation thingy.

>>49790000
Let's pretend Celsius is telling the truth. What are the odds we get some of our USDC that's stored there back?

>>49788659
>does anyone not understand how the FUCK a crypto company bets its self on the price not going down?
This cycle was the Golden Aperun. Making money was about being as retarded as possible. It stands to reason then that the most retarded people made the most money and are now leading the pack in the drawdown.

>>49790053
This would immediately liquidate the position and lead to a 13% loss in penalty. Most of that DAI is being lent out to exchanges and other institutional investors, and they have no way to get immediate access to it to recoup the BTC that was just liquidated. If they get liquidated and the BTC price stays below their liquidation price, they lose nothing assuming their borrowers are not insolvent. If it goes above their liquidation price before they can buy back the BTC, they have lost BTC in comparison to their AUM book.

>>49789955
I don't understand why they can't just implement either 5% weekly withdrawals OR a specific crypto amount that's allowed to be withdrawn every month or something. Wouldn't this solve everything?

Why are they not doing this?

As I asked here: >>49790148
What are the odds, realistically, that I get at least 10% of my money back? I had all USDC, and even 10% is a sizeable chunk so what is it?

>>49788175
This. It's just a matter of time, dominos WILL FALL!

>>49788659
Ultimately it's all just kids thinking they're genius, the average exec in crypto is something like 28-30.

>>49787942
If you trusted a jew.... a fucking jew... with your money, you don't deserve the money.

>>49788021
Ouch. I honesty think we're going to 10k. If 17k doesn't hold, they are FUCKED

>>49790148
All of this comes down to whether or not their borrowers are solvent, which most people seem to not understand. Assuming nothing has changed and their stETH discount sale, BadgerDAO, LUNA and other related incidents has not pushed them below their creditor AUM, and assuming they haven't entered into market plays and are not committing fraud, they are de facto solvent and no assets have been lost, IF their borrowers can actually pay them back. Their borrowers consist of exchanges and institutions that make use of assets for operational liquidity, arbitrage, and (yes) market plays. At the moment, they are probably investigating the financial health of their borrowers and whether or not they can get immediate liquidity via convertible debt or loan recalls. They are slowly building liquidity from borrower interest payments, but it's probably not nearly fast enough, and the question is whether or not they can garner enough to cover their DAI loans to avoid liquidation and BTC loss exposure/penalty fees. If they go insolvent and file for Chapter 11, they have to first cover secured creditors (very small minority of their AUM), bankruptcy fees, then unsecured creditors (most of their AUM), THEN equity. The haircut all depends on how underwater their borrowers may be, and how extensive the losses may be following liquidations. A lot of people seem to think liquidations involve total loss of assets, which is not how any of this works - if their 200 million dollar BTC is liquidated, they still "own" the 200 million DAI, but the issue is that it is locked away in loans with other people.

>>49789665
Why does it have a liquidation price then? Ur saying if it hits it, 23k btc WONT be dumped on the market?

>>49787942
how big of a liquidation are we talking about here? does anyone know?

>>49790668
>23k btc WONT be dumped on the market?
Why do so many people think liquidation entails the entire account is sold off completely? They get liquidated at the price of the loan, plus the penalty fee.

>>49790235
>Wouldn't this solve everything?
Solve what? They can either bleed out immediately if they open the gates, bleed out slowly if they drip-feed what they have, or simply run with the bag.
This being crypto I think you know the answer as to what it'll be.
>decentralized internet money
>what a pain in the ass, lemme outsource dealing with a wallet
>oh shit all my moni's gone!

>>49789004
>jessica-khater
Lmao, that's fucking true. wtf that's hilariously bad.

>>49790668
i'm saying that any bitcoin used as collateral will get dumped onto the market, leading to companies going under
i believe this has already well underway, people focus too much on single entities like celcius and microstrategy, there were a lot of companies doing this, all of them are underwater
bitcoin is a plane, the wings have fallen off, is the liquidation event the plane hitting the ground, or was the liquidation event the wings falling off?

am i ever seeing my link again?
holding since 2018
such a shitty way to go out

>>49790618
I’m sure the porn star who they hired as a hairdresser then promoted three months later to head of lending will expertly execute your plan.

>>49790407
what's the name of the painting in the back?

>>49788021

it really seems blackrock or whoever is behind this dump really wants that money and is going to liquidate them

>>49791751
a random pornstar being a local guru is par the course in the cryptobro world
even the biggest players like coinbase are basically clownshows with maybe one in ten people having any idea what they're doing
there's very, veeeery few businesses that are even remotely professional (like FTX), and they don't really rely on shitcoin prices themselves but just charge bagholders

>>49791224
Most likely no. If they get liquidated, which they probably will, then all the user funds including yours which they posed as collateral will be gone forever. If they don't get liquidated they're still hurting and will probably only be able to pay out a percentage of your original holdings after years of court proceedings ala MtGox

Celsius will get liquidated by the end of next week.

>>49789392
>2 more weeks

>>49791224
all of celsius' assets are getting dumped on the market, you can buy some back. sucks but that's the opportunity we're all being given

>>49788021
Serious question: why didn't they tell us that our funds existence depend on BTC fluctuations? I have 50k in stablecoin locked there, why does BTC price affect my funds?

>>49787942
Do we have any proof that he's paid down the terms?
Last I recall it was like 17.1

Crypto Lehman.

>>49787942
I want to see it.

>>49792621
>Serious question: why didn't they tell us that our funds existence depend on BTC fluctuations?
Serious question: are you unaware that all of crypto loosely relies on BTC and Tether?
I know this is biz, but surely you didn't just throw the money at some random company for the promise of going to the moon while knowing literally nothing about it or the market it's in?

>>49792621
Unregulated "Decentralized Finance"
No regulations. Regulations exist to protect outsiders from insiders. It's an expensive lesson to learn, and the wild west days of crypto will be over after this.

>>49792621
If you had done 30 minutes worth of research before entrusting them with $50k of your money you would have known that they were likely to implode during a bear market

>>49789004
1 Timothy 6:9 - But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.

>>49792809
But my money is in USDC stablecoin collecting interest. Their slogan is literally "unbank yourself" so I did and moved all my crypto gains and savings into celsius to get 8% interest on my savings to fight inflation instead of the bank giving me 0.1%.

Nowhere did they say "if Bitcoin ever does poorly, or a bear market ever happens from now till the end of time, then your funds will be permalocked and disappear even if they aren't Bitcoin".

>>49792903
>you would have known that they were likely to implode during a bear market

Why? They were literally the most popular lending platform.

>>49792995
Literally in the terms of service lmao retard

This is how I know the bottom is below 10k

>>49792995
Jesus fucking Christ on a broomstick you fucking retarded nigger. Where do you think that 8% comes from?

>>49791751
>porn star
shes not a porn star. she was a colege girl who did a porno and thought the guys behind girls do porn wouldn't post the video online

>>49792896
if you think about it the current "rediscovering why financial regulation exists LIVE" speedrun is quite remarkable
you'd think the wild west was over after the dotcom bubble, when the internet itself became a few big facebook and google silos. and yet, two decades later, you get two trillion of magic internet money and every scam under the sun running wild, with elon fucking musk making billions off of a public pump and dump scheme carried out on twitter
what a time to be alive

>>49792995
Read the small print next time instead of just the headlines. You're supposed to use your own head. Did you somehow miss everyone on this board screaming the phrase "not your keys, not your coins"?

>>49790618
cant we assume at this point that many of them are not solvent
i mean look at 3AC they were regarded as top dog in the cryptofund world and from all we know now they is kill, so we can safely assume a lot of less stellar funds are already dead just nobody noticed it yet
and that is ontop of the whole staked eth debacle, how will the sell off be handled when these eths are stuck in 2 more weeks for quite a while now and fewer people are going to trust 3rd parties to print a shitcoin prefix-eth from thin air and stick to their promises in this market

really money skelly dropped the ball hard on delaying eth2, or he did it on purpose

>>49793150
anyone have the vid. i cant find it anywhere

>>49788021
Didn't someone else just liquidate at 18k? I forget.

>>49793057
Bitconnect and Luna were both top 10 coins too. That didn't make them any less of a ponzi.

Every crypto bullrun attracts an army of drooling retards who fall for ponzi schemes. Like I said, you have to use your own head instead of following the herd of drooling retards into the slaughter house

>>49789004
wtf is real, yes ffs let it all burn, fuck crypto, i didn't know this all was a joke, boomers were right, i don't care if i am left bag holding burn it all

>>49787942
The CEL liquidation is absolutely guaranteed. The Fed and SEC both want to make an example as to why they need to protect investors, in order to rollout regulations and CBDC’s

>>49793150
Kek ur all so gullible

>>49787942
wasnt it 20k last week?

>>49792995
>Their slogan is literally "unbank yourself"
Oh shit, their SLOGAN said this? I wonder what the Democratic People's Republic of Korea thinks about this.
Where did the magic 8% came from? Why wasn't literally EVERYBODY invested if it's free money year on year, since banks gave you fuck all?
Did you just... not think at all? Do people actually throw money to random people because they promise them free money? This is legit two steps away from sending them to a nigerian prince

>>49793150
she sucked that dick like a true porstar tho

>>49793162
We're very good at shutting the barn door after the horse has escaped.
In a few years we'll have a new "Crypto-token Oversight Agency" staffed with clockwatchers and killjoys - but we earned it.

>>49793162
well at least in crypto the bad actors get rekt and disappear forever
tradfi is still orders of magnitude worse for combining insider scamming with government bailouts for the scammers creating lasting accelerating systematic rot
i'd say the current state of crypto is like banking around the 1928-1932 era, sure some shit blew up but when .gov sticked its dick in there the scams got really out of hand

>>49793066
and yes the current state of retardation has my believe we are going to see some serious lows here, still for those of us that are left standing its a glorious buying moment coming up

>>49787985
Huge contagion risks with this shit going down

>>49792621
Are you getting interest?
How do you think that’s possible?
>They lent your stablecoin out so someone could swap it for btc and moon

>>49791761
The Martyrdom of St. Simon of Trento for Jewish ritual murder by Giovanni Gasparro

>>49787942
Betting people with money in Celsius this means they break even. Those in Celsius already are at basically nothing left.

>Unbank yourself

Then you end up giving your funds to a bank. True pottery.

>>49792211
>If they get liquidated, which they probably will, then all the user funds including yours which they posed as collateral will be gone forever.
See >>49790618
>A lot of people seem to think liquidations involve total loss of assets, which is not how any of this works - if their 200 million dollar BTC is liquidated, they still "own" the 200 million DAI, but the issue is that it is locked away in loans with other people.
>>49791224
It's very well possible, but things point more towards a 20-40% haircut (but again all of this comes down to borrower solvency). Bankruptcy proceedings will probably cost around $500 million, secured creditors probably ~$1 billion. The rest would go to unsecured creditors.

>>49787942
Is 14k the right number? According to this is 16,852

https://www.marketindex.com.au/news/looming-celsius-liquidation-could-lead-to-a-crypto-contagion-event

>Your money isn’t in the bank.
>It’s in Howard Johnson’s home
>and other places, suckers.

now that I think about it, if USDT wobbles enough for people to lose faith it'll go really fucking wild because they've been one of the biggest buyers of chink property bonds, which are anything but stable at the moment
given how much is tied in the potemkin economy that is chinese property... well

>>49794256
For the wonderful life reference:
https://www.youtube.com/watch?v=Ovfap2VtpHM

> for the blazing saddles reference
https://www.youtube.com/watch?v=3NaQxUEfxt0

In the meantime, I will again compare the entire concept of crypto to the Wildcat Banking Era. Here's the version from a state other than my own:
https://www.youtube.com/watch?v=si02gBN45Yc

>>49794161
That’s outdated. It’s 13.6k now. See >>49788091

>>49794101
yeah this was great.. I have to give him credit for the power of this lie

>>49789004
>https://www.forbes.com/profile/jessica-khater/?sh=1a598fa4724d
how the hell she keeps getting a job

>>49795705
>how the hell she keeps getting a job
she is kinda cute and has that wet gold mine between her legs. She will always have a job.

>>49789004
>>"After being hired as a marketing assistant by Celsius Network, she quickly proved herself as much more"
the implications LOL

>>49788091
>https://oasis.app/25977#Overview
where did they lock their BTC ? are they getting yield on it?

>>49791224
Update regarding LINK - Celsius seems to be parking massive amounts of LINK into Bancor V3. Given the possibility of a death spiral, this is honestly very concerning and I have no idea wtf they're thinking. If they were this desperate for liquidity, they would be more interested in preserving assets available for immediate liquidation.
https://debank.com/profile/0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1/history

>>49793208
https://girlsdopornvideos.com/girlsdoporn-horny-young-teen-first-pro-shoot-ep-349/

>>49788021
they still keep $100,000,000 because they get liquidated at 145%

>>49789004
>>49795705
sirs i need a link or name please, can't find it anymore

>>49788021
please make a thread if they got liquidated,

>>49797284
you'll notice it by looking at the charts

>>49792054
Its FTX

>>49797391
kek FTX is the normie boogie man now, SBF is a CIA asset and this is probably Saudis selling for an entry

>>49788659
>Do they not have charts? Do they not read?

Do this guys not have phones?

>>49792896
Celsius isn't defi though. It's cefi.
>>49792621
Where did you think they were getting that yield? Came from somewhere.

>>49797555
>Came from somewhere.
like intrest on liqidity they lent away?

>>49793960
thank you brother

>>49797686
I think they would use your deposits as their own collateral to buy assets that were going up in value and they redistributed the profits back to you. I think you were being the lender to them if you were their customer

>>49797061
almost 7 mil link, thats pretty huge
i am guessing celsius sets themselves up to be too big to liquidate or in doing so they will be taking all lot of stuff with them into the abyss
bold play, probably would do the same in celsius case, better to go down swinging

>>49797943
No, this was not their business model. See https://old.reddit.com/r/CelsiusNetwork/comments/ve7q3v/old_financial_data_vs_endless_speculation/ for their old revenue information from 2020. They would take the assets and lend them via DeFi or to exchanges and institutions. They were not making market plays directly themselves.
>>49798052
It actually might be an OTC sale to FTX (ouch). See this thread >>49797144 . Most of the LINK that went into Celsius' wallet actually came from the 14th largest LINK wallet in existence, which seems to be a Maker vault:
https://etherscan.io/address/0xdfccaf8fdbd2f4805c174f856a317765b49e4a50

CelsiusBros...

Do you have any plans or counters established yet to what is happening? Maybe you should take a bit of what you have left and buy a couple of shares of GME stock!

Friendly reminder that it literally doesn't matter if you have X shares or XXXXX shares, if you sell at 210 or if you sell at 210,000,000,000. The squeeze is going to hit and reddit has decided to hold for an infinity pool and see just how high the numbers can go. Whether you participate with any of your shares or not, this is happening when we squeeze, and no amount of bitching and moaning in these threads will do literally a single thing about it, except to make sure that the bitchers and the moaners are the only people GUARANTEED to miss out on the top.

>>49798052
>>49797061
Israelis threatening to use the Samson option lol. saying "alright you can liquidate us but we'll take the rest of crypto with us"

>>49793150
>shes not a porn star. she was a colege girl who did a porno and thought the guys behind girls do porn wouldn't post the video online
Hahaha! We found the white knight simp guys! There's one born every second.

>>49789392
Imagine thinking it will take that long

>>49797198
sirs, pls do not redeem!

>>49798217
one of the best examples of NLP i've ever seen.

>>49798169
just watch the that new thread and its filled with shills so lets stay here
so ftx getting all those linkies in an otc deal, thats disturbing
giving the rats track record he is probably about to market dump us into oblivion rather than he would be accumulating

>>49798169
yea i made that up. I watched their video and they said they would just make loans. I guess some were risky