/biz/ - Business & Finance

>>50017289
>You know what this means, right?
Nope.
Obviously you have a point you want to make.
So make it.

>>50017319
This is /biz/, he can’t say it or the opposite will happen.

>>50017289

>>50017289
We will slowly dump for a few more months? We know.

>>50017373
>tfw trolling bizwhales into doing what i want
feels based

>>50017289
they may or may no be insolvent

>>50017289
bullish as fuck

>>50017381
How many linkies for both of them?

>>50017289
>AAVE
>moves
anon did you ever use aave?

>>50017289
did someone withdraw a bunch of their supply or did someone borrow? either would make the supply apr rise

>>50017434

>>50017579

It was withdrawn

>>50017318
kek saved

>>50017289
An indication to bag AAVE, huh?

>>50017289
>You know what this means, right?
no... what?

>>50017717
Why would someone withdraw unless they wanted to dump

>>50017289
I think LINK is getting some required dominance as a big cap gem. Ain't seeing no correlation between AAVE and LINK in here though

>>50017393
Facts and I'm damn on that train, scalping here I come, lol

>>50017430
Yeah ERC20 tokens be giving me some bullish feeling even to the low cap be it SYLO and FLUID

>>50017289
Based

>>50017717
based

>>50017866
to prevent borrowers from shorting with their coins

>>50017289
Yes. The belly of the beast grumbles hardest in the depths of night. Someone needs to buy those big macs.

>>50017381
dogtits

So large amount of link was withdrawn
This means yesterday's blog post was extremely bearish and they're selling

>>50017289
I can't find this operation.
Was it a flash loan?

Maybe I am missing something but I don't see any big movements with aLink that would explain this.
Interestingly there was an almost triggered shorting signal on ETH and everything when that was happening.
The signal was then invalidated with a mini pump...

I think they may have been planning to dump LINK.
Prepare your buy limit orders to catch the knife and remove the fake liquidity.

>>50018850
>I can't find this operation.
https://etherscan.io/tx/0xbf48d1c8b915fc052787010822c00a6efee845148ff7297ade07599c7c3e0b29

Some insolvent bulgarians just looked at the chart and likely experienced pain and nausea from fear (and that's a fantastic thing)

>another day another hopium thread

>>50017289
this makes me hungry for more linkies

LINK liquidity is rapidly drying up. Nexo is buying off of Binance, pulling out of Bancor at a 50% haircut, AAVE interest rates are climbing, and amount on exchanges is plummeting. As Sergey put it, "what is coming is inevitable."

>>50022198
>liquidity in general is rapidly drying up, meaning the entire market is about to tank even harder
ftfy

>>50018046
>I Beat Anorexia
kek

>>50020567
Thank you.
These assholes from Celsius are shorting LINK on FTX again:
https://etherscan.io/address/0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1#tokentxns

They sent 1.55 million LINK from Aave to FTX:
https://etherscan.io/tx/0x78443b3e3a03c27ddd2b3ab0790755fc66ceb2a2d3692cd233b722b92ea740d5

https://etherscan.io/tx/0x104452786c17f843ca0a22c4c16bc806702d44922cc39a83ad12e72f97a14f20

How do we stop them and spread their actions on social media?

We need to spread awareness of Celsius shorting LINK again.
Could everyone try to spread this on social media?

Here they sent almost 1 million LINK to FTX when the price was starting to have a breakout at 11h12am
https://etherscan.io/tx/0x78443b3e3a03c27ddd2b3ab0790755fc66ceb2a2d3692cd233b722b92ea740d5

1 hour later the price went up to $7.2 and then started going down to $6.7...

Here they sent 600k again at 02:34pm in the last hour and the price went down from $6.87 to $6.66 if they already sold.
https://etherscan.io/tx/0x104452786c17f843ca0a22c4c16bc806702d44922cc39a83ad12e72f97a14f20

Could someone make an info graphic from this?
It would help to spread awareness that Celsius is shorting the assets of their holders while preventing them to withdraw.

>>50023734
No one cares about your schizo ramblings

>>50024049
Are you working for Celsius?

>>50018794
Explain the bearishness of that post. My understanding has it that 75M link will be the cap for one(1) DON, when staking releases later this year. 75M will be removed from circulation, and 50M will be released into circulation going into Q1 2023. Meaning the net link in circulation is -25M link. Then as more DONs receive staking opportunity there’ll be less link in circulation, and since there is a hard cap of link tokens, it will deflationary as time goes on and less link is available on the open market. AKA, it seems like Chainlink labs and the Chainlink foundation has some incredible basic economists working for them. I’m going to start buying between the end of July and going into Q4.

>>50017381
>tfw you will never have a floppy tit tribal virgin waifu
why even live bros

>buy link at 6,90€
>Currently at 6,30€
Why did I listened to you retards hyping it.

>>50023259
>>50023734


Shorting into strength is a very strange play.
The wave of Fud against LINK in the past several hours is also noticeably much stronger than its been for a while so they obviously sent their paid fudders here too.

This may be an attempt to save themselves and kill the pump rather than to create a dump and short profit. Makes no sense for them to blow their load into strength like that. Seems more defensive

>>50024504
The problem is while crypto cefi institutions are nothing compared to actual big players, in the world of crypto, they're big fish in a small pond. And right now nobody else is paying attention to crypto, so they have free reign to do what they please.

>>50024504
>The wave of Fud against LINK in the past several hours is also noticeably much stronger than its been for a while

I hold link and fud here for fun. This whole Robin Hood limped pump is a fun occasion to do so I bet a lot of others are doing like me, plus it's even fummier to trigger you cultists by pretending to be Celsius Nexo or bancor lol

>>50023734
>It would help to spread awareness that Celsius is shorting the assets of their holders while preventing them to withdraw.

Yeah, I was just spoonfed earlier in another thread that Celsius has been taking advantage of their close relationship with Chainlink for insider information to protect their Link shorts. That's absolutely disgusting that they've been sabotaging Link holders for so long, basically betraying Sergey.

>>50024783
Nah, you're a liar. Get fucked.

>>50017866
Why did Pajeet cross the road?

>>50024429
What was your target price to sell at?

>>50024504
They are in extreme pain if they are forced to sell at the current prices.
The amount of LINK sold by Celsius is already close to 4 million in the past weeks and adds up to more than 10 million with Nexo and the Okex wallet user.
I think that the amount of sold LINK is way higher than what we can see.
That would justify these desperate measures.
They are trying to reduce their potential losses on millions more of sold LINK and prepared to use all their remaining LINK tokens for that purpose.

They have 5 more millions on Aave they can dump, but after that happens they will be at the mercy of the counter party buying it all up.

Imagine Celsius shorted LINK for 30-50 million tokens in the last 2 years and never bought back those tokens sold last year.
They are displaying to their user that they hold those LINK tokens that they don't have and can't buy back.

Maybe they are trying to liquidate some of their users using LINK as collateral to reduce their amount of debt and owned tokens.
But the fact that they forced HODL mode on their users while doing this is extremely criminal.
They should be calculating their losses and closing all their gambling not add more fuel to them.

Imagine all CeFi platforms being short LINK for 50 million tokens.
They would never be able to buy back those tokens.
How does the liquidation process work with CeFi platforms?
Do they go to prison and leave their users with nothing?
That would be justice in a way as those who gave them the power to short LINK are responsible of this.

At the very least the selling pressure will disappear and LINK will go back to its average price in the $30 before starting a new price discovery from all the new features.
Those 5-10 million tokens on Aave are the last wall remaining preventing LINK from going up.
Once they are gone Celsius will be caught completely naked.
Is this why its CEO tried to flee to Israel? Keeping up the pretense of trying to help its users until this explodes in their face?

>>50024937
Do you have a link to that thread?
Did Sergey end this relationship with Celsius after finding out?
Can't they bring this to justice and report them for insider trading with information under NDA?

>>50024937

Its why BTC dumps when LINK pumps against the market too.
They have more than enough BTC between them to temporarily dump it a few percent to kill a LINK pump.

I hope anons can finally wake up and connect all the dots now. As anon above said they are big fish in a small pond. Thats why they seemingly can do this.

Why? As said. Their little cash cow last year was shorting LINK with user funds on leverage plus some with their insider at Celsius colluding with all the Cefi.

This made them so confident that they even did carry trades as LINK was cheap to borrow and this was a foundation for their stEth plays(borrowing link cheaply, sell, buy stEth or other higher interest bearing asset) and others. So they have a lot of hidden debts with LINK imo much is probably OTC and plenty is likely on Cex accounts and Defi accounts which means forced liquidations if LINK pumps against market.

This is why they need to spend so much resources into preventing LINK pumping against the market. Dumping BTC for a short time to kill any LINK momentum is necessary for them to survive. It just so happens that this can often feed into brewkikg BTC support as they have no choice and clearly do not give a fuck about the ecosystem at all, just survival and exploitation.

>>50025196
>Its why BTC dumps when LINK pumps against the market too.
This literally just happened again kek

>>50025119

> Imagine Celsius shorted LINK for 30-50 million tokens in the last 2 years and never bought back those tokens sold last year.

That’s pretty much how it is. I dont know how much is on exchange debt and defi debt but i would assume a lot, with a load more from OTC lenders like VC or even other Cefi.

As i explained in my last post its why they are happy to dump some BTC to kill a link pump as link pumping is their number one threat due to it being their largest debt.

>>50024605
There is a hidden whale on the opposite of this short slowly buying up all the liquidity from CeFi.
We may find out in a few weeks what comes next.
LINK is building up strength for an explosive pump since last month.
All we need is to start the process of liquidating these CeFi platforms and force them to buy back the tokens.

>>50025119

They may not necessarily owe their users that much LINK. Lets face it they have exit scammed already. They are operating on blood sucking now and profiting from what they can.

However its likely they have indeed played with all their assets and aquired huge LINK debts in general doing their degenerate plays. That may have been with their treasury profits or just gambling with other user deposits

>>50022198
>As Sergey put it, "what is coming is inevitable."
that's why he'll dump 50mil tokens in the next 9 months

>>50025345
Funny how this is literally only ever a problem with Chainlink.

>>50025277

Obviously. They will happily sell a few hundred btc to dump it 1-2% while they also dump LINK tokens. They would rather BTC dumps harshly than Link pumping against market.

>>50025397
They killed a ~10% pump in under an hour, and then smashed it even deeper than before.

>>50025433
Ngl they're quite good at it

>>50025333
They would not have a reason to short LINK that much if they didn't have a lot of tokens from their users.
Why go out of their way to prevent pumps in that case?
The only reasonable explanation is that they are too deep on this and can't close their short.

>>50025279
Is there a way to get some numbers of this?
Who did they borrow LINK from?
Other CeFi platforms?

Would an exchange allow them to rack up this amount of debt?
DeFi I can only see what's on Aave.
Celsius sent LINK to FTX meaning they may have something there.
Do exchanges allow big players to do naked shorting for big amounts of money?

>>50025433

That’s because they had to unload over a million LINK to dump the Sat value and then also dump some BTC which would obviously bring the dollar value down more

>>50025433
You know what I think?
The crypto markets will finally recover after these CeFi monsters are finally completely bankrupted.
Chainlink will be the final nail in their coffin.

50M LINK/ 12 weeks = 4.16M LINK a week getting dumped

Which is about 3.5 times more than the initial 1.5M LINK Sergey dumped. Yikes.

>>50025550
Then why are you panicking and selling 1.5 million LINK in under 4 hours?
Because people will remove LINK from your platform and find out you can't give the tokens back to them?
How does the coming short squeeze feel?

>>50025184
>>/biz/thread/S50021668#p50021804

>>50025508

Im saying they have a lot of debt in LINK. Im not saying its all to their users and frankly at this point i dont think they intend on gibing their users back anything.

The debts are likely on Binance, FTX, Defi protocols and anywhere else its possible to accumulate a debt. They sre not as sophisticated as you think. It was just leaked that NEXO is literally a 1 man operation when it comes to trading, which makes sense considering they always use the same wallets and make everything so transparent on chain directly to exchanges.

This means if they get hunted it will result in a big squeeze. If their debts were to random lenders in a legal agreement then they would just go bankrupt and leave the counterparty to lose it.

>>50025550
1.5 million tokens/4 hours is 63 million tokens per week.
You can't keep up this selling pressure for more than a week and are going to go bankrupt soon.
Imagine everyone finding out how much you have gambled.

>>50025008
100k

is this a good time to buy LINK?

>>50025545
>The crypto markets will finally recover after these CeFi monsters are finally completely bankrupted.
Sadly I don't think that's going to happen. We thought it was going to when chainlink was pumping against the market but it looks like the pump is dying down already.

>>50025593
Don't research who the CEO of Robinhood is or what his relationship with NEXO is. That's a warning.

>>50025593
Thank you.
This is really impressive.
Sergey kept using Robinhood as an example for trust issues in the older world and they are getting help from them to stop this CeFi shorting.
It must have been someone really powerful to allow this.
Robin Hood and Citadel made losses this year.
Are they currently taking the long side to try to recover some of their reputation and money by liquidating CeFi platforms?
How beautiful and ironical. CeFi getting liquidated by TradFi while saving Chainlink.
CeFi was supposed to help the crypto world to develop but they did the opposite and damaged the most important project instead. They are goign to get punished from this from the older players who need to pay back their accumulated bad karma.

>>50025712
Please enlighten us?
Are they working with Nexo or against them?

>>50025610
Is there a way to get some help from one of those platform and get an idea of the amount of these debts and liquidation prices?
I think we may start to hit some of them at $10.
How big is this? 50-100 million tokens?
We haven't seen anything yet and are going to see mass cascades of liquidations then with a super capitulation soon...

>>50025774
Sergey did not "allow" link to be traded on Robin Hood. Did the ceo of bitcoin allowit as well? You guys are morons

>>50025677
Don't underestimate the power of our collective thoughts.
We are not alone anymore.
Sergey and the Chainlink team are actively working behind the scenes to end this nightmare.
This is the first time this happened in history.
Let's believe in them and help them.

We have 10 days left before we get a final answer on the failed final short attempt started 2 months ago.
It's time to make your final preparations.
CeFi are going to bleed to death and their liquidation process will make everything else look like small moves.

>>50025858

Hard to say. FTX are independent imo.
I think IMO they are likely working against them.
If Sam the jew has identified what we are sharing in this thread and can seek a path to blow them up and profit from it he obviously will counter trade them. Idk why not directly but we dont have his eyes.

I believe FTX/sam the jew have around a 7% stake in Robinhood as of late and i also believe some of the executives at robinhood have stake in FTX.

Who knows. Maybe indeed sam has identified Cefi are net short 60+ million LINK and is now going to squeeze every penny under their noses.

>>50025712
Another bulgarian...
I need some help here.

Sam has been buying up a small portion of Robinhood.
Is this what their talks were about?
FTX must be deep in this through lenders.

>>50026049
I wish I could know better what's happening in these times instead of watching from remaining pieces on the blockchain.

I think FTX counter trading their big CeFi borrowers could be used in a case against them.
By using Robinhood they can hide their tracks and prevent the bankrupted CeFi from acting against FTX.
If Robinhood causes the short squeeze then FTX will not be responsible for it directly and will profit from the liquidations.

>>50025916
i guy without reading compensation shouldnt go around calling people morons
robinhood allowed link to be listed as a favor to a friend of chainlink even though chainlink trashtalks tradfi
either you are dumb or just a bulgarian tranny

>>50025468

>>50026205
Robin Hood is part of the Bulgarian cartel as well if anything they're helping Nexo, Sergey surely did not sign up for this you're clearly the midwit here

>>50026315
Are you working for Nexo?
Are you sweating right now?
How much are you going to lose when Chainlink goes up more?

>>50025712
Can you elaborate? Hard to find anything beyond them both being Bulgarian

>>50026420
Whatever, Robinhood is known for employing the same tactics than Nexo (at much larger scale and they can almost infinity short in tradfi) just lookup their ceo you'll understand

>>50026550
nexo is insolvent

machinsky is trying to flee the country

>>50026550
But why would they do that?
Robinhood is in it to make money.
How would they make money by helping bankrupt CeFi platforms?

The easy and more profitable trade is to blow them up while collaborating with FTX and get some of their collateral at a low price through forced liquidation selling which they could then sell higher later.

From wikipedia:
>Tenev was born in Bulgaria, and his parents migrated to the U.S. when he was five.[1] His parents both worked for the World Bank.[2] He attended Thomas Jefferson High School for Science and Technology[3] in Fairfax County, Virginia.

>He earned a degree in mathematics from Stanford University, where he met Baiju Bhatt.[4] He studied for a mathematics PhD at UCLA, but dropped out to work with Bhatt.

Working for The World Bank would mean they have a connection to the WEF which has been supporting Chainlink.
Tenev left bulgaria young meaning his link to it should be weaker than the one to the group his parents have been working for.
Eric Schmidt is on board with Chainlink and must have very powerful connection with this world through his time at Google.
In the older world the bigger fish eats the smaller fish.

>>50025279
>as link pumping is their number one threat due to it being their largest debt.
what was the thinking on this?
I know they had a lot deposited, and a lot moved to exchanges, but how much was sold or how much was shorted would be a mystery if happened on exchanges
I know their carry trade fucked up (buy LINK with 0.5% interest, sell for stETH for 4% interest, with leverage), and that has blown up massively enough for the 1:1 backing of ETH/stETH to fuck up, but I wonder the specifics on the numbers of it being their "largest debt"

>>50024217
The 75M being locked up were already being held in cold wallets by long term holders, whereas the 50M being released after getting dumped for USD funding of Chainlink Labs and Foundation to expand. Not all tokens are created equal, there will be a net increase in velocity.

>>50026709
Maybe we could get an estimation through glassnode.
The supply on exchanges should be lower at 90 million tokens.
Technically all of this could be naked shorted.
But is the supply deposited in CeFi lenders accounted in this?

Let's say Celsius has 20 million LINK tokens owned to their users, but only has 10 million tokens left after selling them and used the money from this to short 10 more million tokens on an exchange using their remaining 10 million LINK as collateral to the exchange.

Now imagine BlockFi lent them 5 million tokens and is using this as collateral to lend stable coins to Celsius or Nexo using it as collateral to short more LINK?

CeFi have ways to leverage multiple times the same collateral through hidden accounting and we can only see the on chain part of it.
This is why 3AC blowing up affects them all as they were are affected by it.

The amount of shorted LINK tokens can be anywhere between 12 millions at minimum to 100-200 million tokens.
Imagine half the market cap of LINK being lost through hidden accounting and extreme shorting.

>>50017318
topkek

>>50026902
ty based effortposter, i'll try and keep reading around on things
honestly i'm a neutral party, in only that I hold 12k i bought at ~$1.20 range, and bought 1k more on the dip below $9 recently. Literally never sold a single LINK either (holding 100%, only going to sell weekly what I make from staking rewards, however much they may be)
if anything their faggotry has let me buy up more LINK using DCA out of ETH staking rewards from it all
still entertaining regardless though

otc sell

Also reminder, the reason link is such a target is its the perfect asset to short, it has constant buy pressure due to the network being used, but also no reason for anyone to hold it long term (yet) beyond speculation. If it were a useless shitcoin shorting it would only be a short term play as it would have died long ago. Realistically the only thing that's going to stop this long term is link staking, but in the short to medium term there's really not a whole lot we can do but watch market manipulators play their games.

>>50025196
BTC is far bigger market cap than Link. Selling BTC to tank Link is like selling a hundred dollar bill to a homeless guy for $1 in return.

>>50027197
keepers are using up some link. dxdy and pcs keepers are very hungry. And supply on exchanges declined from 30% to 20% over 3 months

>>50025295
>There is a hidden whale on the opposite of this short slowly buying up all the liquidity from CeFi
Source?

>>50017289
FLANNEL MAN BAD

>>50025677
hi nexo
you are insolvent

>>50027197
>we can't do anything guys
>just give up and wait
hi nexo

>>50017289
get fucked chainlink faggots

Aaaand bitcoin dumped
LOL

>>50024975
To shit on the other side.

>>50018794
bingo, anyone still holding after the team said they will be dumping their tokens is a huge retard

>>50029074

>>50026844
The 50m are going to node operators who will hold the link retard

>>50029074
Nexo is insolvent bro

Remember when link holders were celebrating when the dumps stopped because they thought link could finally pump. Link was $20 back then. Now its $6 and they will continue the dump schedule.

>>50025774
>-7%
wow so powerful!

>>50029202
my comment had nothing to do with nexo...are you a bot?

>>50018046
he eated a voltorb

>>50029369
lol this kid got told the news
nexo is insolvent

Why nobody will liquidate those kikes? Why are they allowed to short link so many times? Whales fight against each other, it's not like one group have the market by the balls

>>50026049
>is now going to squeeze every penny under their noses.
They better hurry.
You can’t run a corner with tens of millions of new shares coming out.

>>50025295
>and force them to buy back the tokens
Is that actually a possibility though?
I assume if they get squeezed, they just go bankrupt and say "sorry" to everyone they can't reimburse.

Maybe if there was any regulation of these scams we'd actually have some teeth to make them pay their debts.
But their only motivation is to keep their CeFi thing going ... if they fail they're just going to rug without repaying their users for the tokens they stole.

>>50029674

>>50017373 >>50017393 >>50017399 >>50017417 >>50017430 >>50017434 >>50017546 >>50017797 >>50017859 >>50017866 >>50018046 >>50018592 >>50018794 >>50020567 >>50020780 >>50021041 >>50022198 >>50024217 >>50024245 >>50024429 >>50024937 >>50024975 >>50025008 >>50025345 >>50025624 >>50025645 >>50025677 >>50025712 >>50026205 >>50026272 >>50026615 >>50026844 >>50026988 >>50027404 >>50027611 >>50027965 >>50029482 >>50029659 >>50029674 >>50029685

fuck off shill

>>50029854
nexo is insolvent

machinsky tried to flee the country

Maybe the question you should all be asking is why there’s so little demand at the $6 level despite the Bulgarian influence. If LINK really was important it would be bought frantically at these levels and the shorting problem would sort itself out.

>>50029142
why would they hold it? they're companies whose goal is profit

>>50029958
nexo is insolvent

machinsky tried to flee the country

>>50030012

>>50023259
>>50023734
>>50025119
QUESTION for someone who knows how AAVE contracts work and how they show up on etherscan:
In the latest LINK to FTX by Celsius, we see the following set of transactions -
Celsius Wallet 11 receives 700K LINK from AAVE
https://etherscan.io/address/0x8aceab8167c80cb8b3de7fa6228b889bb1130ee8#tokentxns
Sends it to another wallet
https://etherscan.io/address/0x41318419cfa25396b47a94896ffa2c77c6434040#tokentxns
Sends it to FTX
https://etherscan.io/address/0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1#tokentxns

In the AAVE transaction, we see that the Celsius wallet actually sent aLINK to AAVE for the withdrawal:
https://etherscan.io/tx/0xbf48d1c8b915fc052787010822c00a6efee845148ff7297ade07599c7c3e0b29

Wouldn't this indicate that Celsius is retrieving LINK that it was lending, rather than BORROWING LINK on AAVE? Is the same not also true for SNX in this situation?
https://etherscan.io/tx/0x9d70edd25dbc4d8d903da7722be1a608d9776d149a6e07a4a19eda3bff073024

They still are likely shorting with customer funds, or liquidating in preparation for bankruptcy, but would this not entail that tweets like the following are actually false? If they were actually doing this while in a position of insolvency, they 1000% can be liable for FRAUD as per Delaware's ruling wrt fiduciary responsibility to creditors when insolvent.
https://twitter.com/MidasTheFool/status/1541814848731762689

>>50029982
Because a chainlink node barely costs any money to run its not like btc miners.
once staking is turned on all the nodes will now be in competition with eachother, whoever has the most link gets the best jobs.
Its in every nodes best interest to acquire as much link as they can.
Thats literally how it was designed.

You are all exposed as ignorant parrot newfags. And now its confirmed that most of the link fud here is from celsius and nexo paid shills.

hi. nexo is unable to pay debts owed. in business parlance, this is known as "insolvency".

>>50029142
>The 50m are going to node operators
They aren't.
Up to 75M LINK will be staked in 0.1, and the subsidies will be less than 5% of that over a year.
Do the fucking math.

>>50030419
Its obviously not gonna be capped at just 75m for a year. they are gonna ramp it up.
50m is 5% of 1b the total supply.
Those tokens are set aside to subsidize the network while its still ôgetting started running.
Also they said "up to 5%", meaning that stakers get all the fees and if they dont add up to 5% the difference will be covered by the set aside link.

>>50030499
Checked. Maybe you're right, we'll see.
I'm never selling either way, just sick of poisoned hopium.

>>50029819
The people who had LINK on the platform may lose everything but will attempt to buy back some of their tokens out of despair with their remaining money which should add some buying pressure.
However if there is a chain of lenders with over-leveraged collateral then some of them will be forced to buy back the tokens even if it won't be everything.

For example if Celsius is shorting LINK on FTX with some collateral then in the event of a liquidation FTX may sell the collateral and buy back LINK at market prices.
Another example is if a healthier lending platform and less degen lent Chainlink to Nexo or Celsius who shorted it, they will try to buy back the token even with a loss in order to save their reputation if they are not completely bankrupt.

>>50030161
I haven't checked SNX but Celsius deposited 5 million Chainlink on Aave from the 6.7 million they deposited on FTX earlier.
They retrieved some of their lent LINK in order to short more.

You can see here the 6.7 million LINK deposited on FTX 9 days ago.
https://etherscan.io/tx/0x57a27db9d9715df0dda90b2cfbf47f7386802ef6aee519ce0dd94d35e63f918c

They sold 1 million already at that time but withdrew 5 million after they got found out:
https://etherscan.io/tx/0x3362dafd405e2382f65da92fcffc8bb3d685e519e4b77401da53d125c8216b8c
They then sent this to Aave to farm liquidity while helping their partner in crime by reducing the borrow rate.

They are using this remaining LINK on Aave to keep shorting LINK and haven't borrowed yet from it.

>>50030161
You can check directly from the Celsius Wallet 11 how many lent tokens they have on Aave.
https://etherscan.io/address/0x8aceab8167c80cb8b3de7fa6228b889bb1130ee8

They still have 3.8 million aSNX for example on it they can withdraw and sell on exchanges.
You can see they withdrew 1 million SNX from Aave (not borrowed) here
https://etherscan.io/tx/0xf54ce2a3ac39a954e978ab81488fb1a1e980a0012d7cf653c88eee98bc7c0796

Aave sent 1 million SNX to Celsius and then sent 1 million aSNX to the null address to destroy the Aave lending token after removing the corresponding liquidity from Aave.

They are not borrowing from Aave but selling what they own.
However I think those token they sell belong to their customers.

I am not sure in the case of SNX, but the LINK they keep selling on FTX is likely something which belongs to their users.
I don't know if users can deposit DeFi tokens on Celsius, but it's likely they gambled on DeFi tokens last year and made money from it and are now trying to sell everything they have in order to recoup their losses.

>>50030816
Link go up or down?

>>50030161
According to reddit it seems Celsius supports SNX and LINK in which case they are selling their user's asset hoping for a crash to buy back lower...

https://www.reddit.com/r/CelsiusNetwork/comments/qfqpm9/supported_assets_for_celsius_inapp_swaps_beta/

If this is up to date then all the assets they support can be shorted at the expense of their users.
They can make money by buying back lower and liquidating their users who use it as collateral to borrow.

The reason many altcoins with a real product have bad price action now may be because of these CeFi platforms shorting them.

>>50030897
First Nexo and Celsius go down, then LINK go up.
This is the price to pay when you go full degen shorting the most important token in the complete space while pretending to help and collaborate.

>>50030962
We can’t force anything because everyone is chasing 0.000005 apy unfortunately

>>50030816
So TLDR Celsius only sold 1.5 million of their 6.7 million user-deposited chainlink tokens?

>>50031208
machinsky tried to flee the country

>>50031259
The LINK dumps were 6h ago, i.e. AFTER he got stopped trying to flee the country.

>>50031336
the funny thing is we can fuck these people over so hard if we just pull out of aave. No one will though

>>50030994
They are on the losing side the longer this goes on.
They are forced to sell every time the price starts to go up because of long term holder accumulation.
The moment they run out of tokens to sell they will be desperate.
Today Celsius dumped 1.5 million tokens bringing their short term shorts to 4 millions and remaining tokens on Aave to 5 millions.

Everything is connected and we are witnessing the death of CeFi which try to short again their customer's asset to save themselves one last time.

After the last success from the Chainlink team to defuse the short attempt during Consensys I think they are finally trying to do something about it.
If we want to stabilize the crypto market to allow it to recover then we need to quickly deal a death blow to those who are responsible for this situation.
The whales who profit from the market going up must also realize this. Sam must know this too.

The most interesting piece of this puzzle may be what's happening with the Robinhood introducing Chainlink and FTX's stake in it.
I think FTX may be attempting to liquidate some of their bad customers with bad debts and using a third party to go long and cause some liquidations on particular assets could be a good strategy.

As long as people don't panic and keep accumulating LINK at the $5-6 price range while adding more limit buy orders at the $5.5 support it won't matter how many tokens they can sell because even if they can break the support it won't automatically give them enough liquidity to buy back all the tokens they sold if people don't sell.
I think a few whales are betting on this scenario.
The best thing to do is to give the impression to the shorting CeFi that they can still win to make them short more.
Letting them pile up on their gamble until someone liquidates them for more damage.
The best moment will be when there is no more liquidity left for shorting.

>>50031208
They also sold before this.
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1
In the past 20 days they sold 3.5 million tokens.
They sold another 500k on FTX 42 days ago which adds up to 4 million tokens and this may not be everything if they used other platforms.

>>50030249
only polygon and bsc nodes were entirely profitable last i know
you dont know shit
ethereum main net price feeds will literally never becoming profitable without major overhaul

>>50031421
im waiting for this shit to go belly up so i can 5x long but these cock suckers keep dragging this whole thing out

>>50031208
They sold 2.5 million tokens from their initially deposited 6.7 million tokens on FTX as they only withdrew 5.8 million to put it on Aave.

We don't know how many tokens they owe to their customers.
Looking at past balances this may be 10 or more millions.

We would have to check the amount of LINK being sent to every exchange and to their wallets from users and somehow get the real numbers of what they display in their app to their customer.

However those numbers add up.
1.5 million LINK from Nexo in the past 2 weeks + 4 million from Nexo and 4.5 million LINK from Aave borrower is 10 million.
And we don't know if exchanges allow naked shorting and how derivatives work.

>>50029845

There are almost no LINK threads (except FUD) around this time of the day, I am noticing this. I suspect ONE janny is doing all the deletion. He even deleted the one about Robinhood listing.

>>50031491
Just to clarify: Are they selling
1) their own tokens, or
2) user-owned tokens, or
3) using user-owned tokens as collateral for to short-sell?

1) I can nearly exclude, why would they have so many LINK-tokens
2) or 3) idk but I guess neither knows here as well. If 2) that would be criminal to no-end, and if 3) they will get fucked as they at some point need to cover their shorts and have to pay short-fee in the meantime. 3) seems to be the most logical point for me but it would be a huge gamble on their side.

>>50031726
Well based on >>50031421 and >>50031590
do I understand you point towards my 3) too?

In that case causing a squeeze might be worth a try. I got 24 Bitcoins I could convert into LINK...

>>50031590
meant 4 million from Celsius not from Nexo

>>50031726
2 likely as in this case they didn't borrow from Aave.
This is a known business model for Nexo by the way to liquidate their users who use tokens as collateral.
This way they win by selling the token at a higher price and not having to buy it back for their customer later as this step would increase the price.
That's why removing liquidity without the price breaking the support is important and adds pressure to them as they can't liquidate their own users.

There is a group borrowing 4.5 million LINK from Aave who is using Okex to short LINK using ETH as collateral.
That group also tried to protect the stETH peg initially when this mess started making me think everything is connected.
You can see here the top holders of Aave debt bearing LINK which is the token created by someone who borrows LINK:
https://etherscan.io/token/0x0b8f12b1788BFdE65Aa1ca52E3e9F3Ba401be16D#balances

You can see that the top 8 wallets sold 4 million LINK in the past weeks through Okex and that they are using ETH as collateral.

>>50031893
That is the obvious play even without putting all these CEFI's degen shorting into consideration.
If you look at the LINK/BTC chart and think it isn't a great opportunity, you are probably gas-lit by discord trannies aka CT trannies.

>>50032066
>You can see here the top holders of Aave debt bearing LINK which is the token created by someone who borrows LINK:
Thanks. Do you know what is the counterpart to the borrowLink wallet (the creditLink or depositLink account or whatever you want to clal it), do you have the counterparts adress too?

>>50031726
The Okex related wallet is doing 3 through Aave borrowing and Nexo and Celsius are doing 2 according to on chain data.
Unfortunately we don't know what's happening on exchanges and with collateral lending, and we won't know until something blows up.

It would be good to find out who owns the Okex wallets and is borrowing millions of LINK from Aave to short, but all we know right now is that they are shorting LINK with ETH collateral on Aave and didn't want the stETH peg to decrease 2 weeks ago meaning they had stETH at that time.

>>50031421
From my perspective it seem inevitable that they’re going to get wrecked eventually when they run out of link.
Are they just delaying the inevitable, hoping they figure out a way out of this mess before they become insolvent?

I just don’t understand the mentality.

>>50032164
all you really need to know is that machinsky is a part of this and the nigga literally tried to flee the country but was stopped by authorities

>>50031893
This is not a small player we are facing but many CeFi platforms working as a cartel who have been shorting LINK for 1-2 years.
We cannot force Celsius for example to buy back their token if their customers are prevented from withdrawing their tokens.
We can only cause a liquidation of the Aave borrower and in case there is some hidden play on exchanges cause a hidden liquidation there.
Looking at Aave they still have 10 millions left of LINK they can dump which is still a lot.
Look at how much damage Celsius caused by selling 1.5 million tokens today.

This is an endurance game. The best play is to accumulate at lower prices in the $5-6 range without allowing them to liquidate their own users while they sell their remaining liquidity.
Only after they have no more liquidity left will it become easier to cause a short squeeze in some form.

We need the help of bigger whales with $100-200 million of money they want to invest in Chainlink at current prices.
However this should be in the power of the Chainlink team through their connections.

>>50030657
>You can see here the 6.7 million LINK deposited on FTX 9 days ago.
>https://etherscan.io/tx/0x57a27db9d9715df0dda90b2cfbf47f7386802ef6aee519ce0dd94d35e63f918c
Yes, I believe I was the first to catch this on /biz/ when it happened. The real question is whether or not we can conclude they are definitively selling, but there is little to no reason to believe they are doing anything other than OTC sales with the exchange (with the only alternative being lending to FTX, which no longer makes sense). They can get away with this, for now, because fiduciary duty in insolvency can be made to apply to dollar-value owed to creditors (so when they sell for USD, they have done no wrong). If they make any steps outside of this line, or are even caught buying back assets at cheaper prices if their short plays off, this is absolutely fraud and will be showing up in court if FTX is subpoenaed for their transactions. If it can be proven that Celsius knows they are definitively insolvent due to 3AC collapse/other losses, and not just straddling a "zone of insolvency" while pursuing recovery strategies (in their short-selling), they are committing fraud by breaching fiduciary duty to creditors (who are put on the same level as shareholders in this claim)
>Once a company is insolvent, its creditors become the principal constituency that bears the risk of damages resulting from a breach of fiduciary duty by directors or officers. Under those circumstances, courts in Delaware have held specifically that creditors, in addition to shareholders, may bring a derivative action against directors and officers for breach of fiduciary duty. Gheewalla, 930 A.2d at 101-102. Courts in other jurisdictions likewise have held that creditors of insolvent corporations have standing to bring derivative actions for breach of fiduciary duty. See, e.g., In re VarTec Telecom, Inc., 2007 WL 2872283, *2-3 (Bankr. N.D. Tex. September 24, 2007) (construing Texas law).

https://www.forbes.com/sites/stevenehrlich/2022/06/28/bankman-fried-some-crypto-exchanges-already-secretly-insolvent/?sh=181fb2447f7f

oh it's real son, it's real and it's ON like donkey kong

>>50032465
To anyone reading this, take everything you possibly have off of Coinbase NOW. Really, everything besides the AAA DeFi protocols should be put on cold storage NOW.

>>50032149
It's the same address.
You have to deposit collateral on Aave to borrow something.
For example this is the biggest borrowing address:
https://etherscan.io/address/0x9571140e9e02dd219f9984d1b2df771cef207626

You can click on the token price box in the overview window on the top left to see the owned tokens.
You should see 990265.35710445 variableDebtLINK and 12583.47763932 aWETH.
You can look at the transactions too.
You can calculate from this a possible liquidation price if they don't add more collateral which they did once by the way after it was found out the first time.
Aave starts to liquidate when you go below 78% of collateral for LINK
(12583 ETH /990265 LINK) x 0.78 (Aave liquidation threshold) =0.0099 LINK/ETH liquidation price

However they added collateral once after the first thread analyzed their wallets because their earlier liquidation threshold were at 0.008 LINK/ETH. So it may not cause a short squeeze in Aave if they can add more collateral however there are many details pointing to different CeFi platforms having different pain points.
LINK reaching and remaining in the double digits is not something Nexo and Celsius would want to see, and for the Okex wallet group too as their break even price should be in the $9 price range meaning that for every $1 increase the Okew wallet owner and Aave borrower loses $4 millions.

>>50032164
I think it's a mix of incompetence and desperation.
They lost a lot of money and need to make money to prevent a bankruptcy.
By shorting their user's assets while preventing them to withdraw they can recover some of this lost money as they only need to give back the tokens to their users independently of the price.

Because they made so much money from shorting Chainlink they keep coming back to what worked in the past when in need of money.
But Chainlink is not the only token they have been selling.
They also sold SNX, BNT and likely other tokens too.

We are still not completely out of the woods unfortunately and a final BTC/ETH capitulation may still happen and bring the price of BTc to the 14k range and ETH to $500-700. IF this happens and people panic sell and get liquidated then the CeFi platforms would make money from shorting LINK and every other token they are selling.
The only way to prevent this death spiral is through regulations, users withdrawing their funds, hidden liquidations through exchanges or adding more buying pressure to the crypto space.

GBTC being converted to a real BTC spot ETF may resolve some of the liquidity issues of some lenders and end this shorting cascade.

>>50032506
You really think Coinbase could be in trouble? I mean I get that the only truly safe option is cold storage, however CB are publicly listed and don’t seem to do all the degenerate shit Celsius etc have been doing

>>50032676
just because something is publicly listed doesn't mean they partake in transparency. just imagine how funny it would be if a crypto exchange was actively shorting your assets and printing more out of thin air to balance their ledger only to be proven insolvent in the scenario were users would like to withdraw their assets to their chain of choice. haha that would be funny watching coinbase have to start buying stuff to cover the nonexistent stuff to make up for the IOUs they have been accumulating. remember, if there is no contract address available, then you are actively participating in a trust maximized environment haha.

The most fucked up thing in all of this is that Celcius and Bancor both screwed their customers in order to allow the link dumping to continue.
However I'm confident that the chess peices have been put in place to destroy the shorters. When the time is right it will happen.

>>50032676
The very public warning regarding user fund loss in the event of a bankruptcy is enough of a sign to be fully wary of them and to at a minimum withdrawal everything. They aren't definitively going to go under, but for them to take the PR hit on such an ugly and alarming public statement as this during their greatest downturn in customers means they are close enough to it happening that they want to avoid regulatory scorn (by pointing to prior warning) if they need to liquidate customer funds. All exchanges engage in lending practices of their own, and though it's not as extensive as other lending platforms (and certainly not as degenerate as making market plays), their operating losses may have added up to the point of being net negative wrt creditor responsibility (user deposits).

>>50032506
Do you know something in particular with Coinbase?
>FTX’s biggest rival Coinbase lost $432 million in the first quarter of 2022 and its stock is down almost 90% from its all-time high.

How did they lose this money?
Is Coinbase going bankrupt because of 3AC?

>>50032412
Interesting. So this means they can keep selling but can't buy back and if they don't buy back it won't be seen as a crime if their users are left with less $ while LINK moons?
The only reason to short LINK would be to make money and buy it back lower.
Maybe they thought this was still possible before declaring bankruptcy and made it a final attempt?
Did they declare insolvency?
Locking out their users is fucked up and I have no idea how that works in courts.

I think if we take a look at the past we may be able to find some proof of Celsius shorting LINK last year.
That could serve as a warning to their users to show them what they have been doing in the past even if it may not be considered a criminal act. I doubt people would lend to CeFi in the future is this was more widely known.

>>50032762
>I'm confident that the chess peices have been put in place to destroy the shorters. When the time is right it will happen.
A repeat of the 2020 short squeeze nuke in these macro conditions would be completely shocking to me, but we'll see what happens when the mask comes off wrt major player interest in LINK. Robinhood's timing is too strange for it not to relate to all of this, there's no reason for them to care enough about crypto listing to list LINK (which is still obscure to the mainstream).

Kek if Sergey realeassed a full version of staking people would be borrowing link just to steal

>>50032762
Technically Bancor is a liquidity tank and they reduce the price volatility in both directions.
When people short LINK against BNT then the platform will have more LINK than BNT tokens and make the price go down less.
Unfortunately what happened now is that BNT went down more than LINK decreasing the amount of owned LINK.

This may have been a fragile system as a token price pumping would cause a lot of BNT token printing, but there may be ways to make this work in the future by forcing a longer deposit time of 1+ years for the token holders and reducing the impermanent loss protection.
We need a decentralized exchange which allows token swaps in some way.
It could be something without the LP part just with limit buy and sell order too, just making it transparent for users who can understand what's happening.
The initial LP tokens had a DEX to allow LP/ETH trades with limited liquidity.

>>50030566
>if they are not completely bankrupt.
They are. Pretty sure Celcius is shorting in a desperate attempt to recover some of what they've lost but it still won't make them insolvent. I don't think they are going to buy back, anon.

>>50032996
>still won't make them insolvent
*not insolvent

>>50032996
if they don't buy back user assets they are fucked lol. its going to be fun watching this kind of shit happen. who would've thought that an asset that was basically free to short at your own discretion would be the asset to utterly ass blast you?

>>50033048
>they are fucked
They are. Like I said, I think this is desperation. I don't think their users are going to get their assets back regardless if Celcius' attempt to manipulate the market then short it succeeds or not.

>>50017289
I got some Link on Blockfi. Should probably withdraw right?
They got bailed out by FTX, so they might also be involved in the shorting action.

>>50032996
True for Celsius but the question is how the other lenders are impacted by this.
Celsius selling their user's assets means that those users will lose a % of their holdings which could add some buy pressure later when they try to recover their lost stack.
What's important is that this virtually added liquidity stops.
Sergey sold 6 million LINK per month during the bull run but these 3 CeFi groups sold over 10 million LINK in less than a month.
That's twice the liquidity that Sergey was adding to the market, and this is happening during a bear market with no more retail buyers.
When this added strong selling pressure disappears the token price should recover quickly.

The two ways I can see this happening is if there is a way to force Celsius and Nexo into a quick bankruptcy or an exchange starting a hidden liquidation cascade, or if they sell all their remaining tokens and have nothing left to short with.

Nexo bought back 400k tokens yesterday meaning that they have likely reached their limit on shorting LINK, which means that only Celsius and the Okex wallet owner can keep shorting.
However those still add up to 12 million remaining tokens on Aave...
That's why this is an endurance battle.

>>50032800
>So this means they can keep selling but can't buy back and if they don't buy back it won't be seen as a crime if their users are left with less $ while LINK moons?
Yes, if they move towards taking a Chapter 11 or 7, this is not only legal but legally necessary
>The only reason to short LINK would be to make money and buy it back lower.
>Maybe they thought this was still possible before declaring bankruptcy and made it a final attempt?
This is what people are speculating, that it's a market play to recoup losses and desperately try and recover. It would fly in the face of everything they've said about their business model and would be insanely retarded, but it's still a possibility. However, like mentioned,
>Did they declare insolvency?
although they did not declare insolvency, they likely have an idea of whether or not they are solvent or insolvent. If they know they are insolvent, and it can be proven by testimony or documentation while these trades are being made, then they are committing fraud and people will do time in federal prison. As far as
>Locking out their users is fucked up and I have no idea how that works in courts.
goes, it's perfectly legal because their users are unsecured creditors. A lot of retards looking onto this situation believe that this means, alongside lack of crypto regulation, that they can do anything they want with user money, even steal it, and simply get away with it. This is not true - the users are still creditors who are legally owed payment to the best of their borrower's capacity - it is simply that, when solvent, there is no deadline for when this payment is due, and when insolvent there is no legal repercussion if they can only pay back some of this debt (after paying secured creditors, of which they have none, and legal/administrative fees).
>I think if we take a look at the past we may be able to find some proof of Celsius shorting LINK last year.
I would be very interested if anyone could find evidence of this.

>>50033092
imo, moneybelly has them, and any other market manipulators that haven't cleared themselves up, right were he wants them. think about it like this, if he was to release staking v0.1 right now, it'd be pretty obvious that anywhere from 5% to 7.5% LINK minimum would be removed from LPs and off exchanges and out of cold storage in preperation for staking. That doesn't include users with money that want to buy link in order to stake for a legitimate 3% apy(minimum) and not ponzinomics. Clearly, staking isn't live so this isn't a threat. However, him canceling his 10 minute talk at consensus and then releasing a blogpost on the future of Staking 2 days before might've been a way for him to gauge the markets. Based on the pump that happened going into Consensus and the dump that happened, someone smarter than me might be able to see users or entities that bought or borrowed chainlink before the blogpost or that bought the blogpost with high volume and sold off etc. No matter how u slice it, there is a mind game being played here, and now suddenly some people are getting choked out. All of that aside, any implementation of staking or CCIP (which will need some kind of staking or collateral across the CCIP DON) You will suddenly see people claiming their LINK back.

>>50032676
if coinbase goes under and rugs its user you better brace for a long crypto winter
they are about the most trusted exchange out there and don't offer degenerate products

i think sbf is protesting a bit too much, he is the one running the offshore exchange with zero oversight and offering massively degenerate products and on top of that was engaged in every bullshit that happened in crypto in the past 2 years with alameda
if any big exchange is going down i put my money on ftx first, forced so through its oversighted us part of operations

but you know as always not your coins not your keys so withdraw to cold storage

>>50033271
>although they did not declare insolvency, they likely have an idea of whether or not they are solvent or insolvent. If they know they are insolvent, and it can be proven by testimony or documentation while these trades are being made, then they are committing fraud and people will do time in federal prison.
I think this is why the CEO was trying to flee to Israel..
They thought they could get away with it, but looking at their last 1.5 million LINK dump they still think this is okay and worth the risk.
Why would they continue to do this if they cannot buy back the tokens? Do they still have some hope of recovery thinking they can get away with everything if they make it back?
Or do they hope that the market will crash after they declare bankruptcy allowing them to make money without buying back the token by having more $ than their creditor debt?

Is there a way for the users of Celsius to force Celsius into a quick bankruptcy?
Wouldn't the forced hodl mode be the same as defaulting on a payment?

We mainly focused on Nexo until we discovered the other platforms shorting LINK this year, but BlockFi had high interest rates until the crash in May on Chainlink meaning that most CeFi were somehow part of this.

It should be possible to find something looking at the bigger Celsius wallet movements from last year.

>>50033350
Celsius dumped 1 million tokens at $9.5...
This was analyzed in a previous thread.
Here is the tx to FTX on the 9th of June:
https://etherscan.io/tx/0xc751daa3352a2641fffaea32cfae93bd566074b6b47fa4787d81aba955f8661f

There was a heavy paid shill effort to discredit the staking news during Consensys and it failed when the staking news was released 2 days earlier. That was the moment the tables turned on CeFi and the Chainlink team took the first action against market manipulators.

>>50033387
How did Coinbase lose over $400 million in the first quarter of 2022 if it wasn't through under collateralized big clients leaving them with a hole?
How did they lose so much money when they should be making money through user fees and lose money from fixed costs of their employees.

>>50033484
>Or do they hope that the market will crash after they declare bankruptcy allowing them to make money without buying back the token by having more $ than their creditor debt?
This is another interesting possibility, and one that I hadn't considered. Yes, they may be attempting to just cover as much debt as they can in the bankruptcy, but it kind of makes no difference because in a bankruptcy they need to liquidate all assets regardless, so it's a question of a better-or-worse bankruptcy by timing of their declaration. If they know they are insolvent, even though they then are beholden to a new fiduciary duty to unsecured creditors, they are not forced to declare bankruptcy as a Delaware corporation, so I guess it does come down to whether or not this timing would align with said duties.
>Is there a way for the users of Celsius to force Celsius into a quick bankruptcy?
Unfortunately not, it would take years - a speedy bankruptcy would take perhaps 2 years minimum, at which point the meagerly USD payouts will be likely much outsized by what their assets would have been worth. This
>Wouldn't the forced hodl mode be the same as defaulting on a payment?
is an interesting question though. The terms of the loan users made had no required payment date, and the TOS specified the capacity to unilaterally restrict payments (withdrawals). I expect the case to be particularly interesting given US regulatory scrutiny and a harsh court, where new precedents in relation to crypto may be set.

>>50033597
cant say, but i stand by my first point CB rugging will be pretty bad for all markets
the question is can they handle the that loss and how much more are they hiding, they are the regulated entity they cant hide like celcius does

>>50033557
Risperidone, consume it

>>50033149
yes
don't risk 100% trying to make 3%

>>50025550
50mil / 108 weeks (now through Q1 23) = 463k Link per week

It also doesn't specify what tokens will be unlocked. They might be the tokens from the 350k set aside for oracle rewards, meaning the new inflation would be for rewards rather than bootstrapping, which is retardly bullish for Poolers. Either way poolers boolin fr fr nocap ongod

>>50033787
i'd half expect sam to bail coinbase if that were to happen
coinbase is so big in the US with a massive brand and """trusted"""
coinbase dying would be horrible for the market for several years after
though how they fucking lost 400 million during a bull market like how the fuck

>>50033387
>don't offer degenerate products

Alright lets calm down here a little bit. This was true once upon a time but now all they do is list dog shit intentionally kek

That being said they are still the most reliable option for US customers to cash out and I've never had a single problem using their platform

>>50033928
>now all they do is list dog shit intentionally kek
listing dogshit tokens =/= doing degenerate business models
users trading on alts that go to zero does not endanger the exchange into insolvency, you know insolvent like nexo is right now
last i checked CB doesnt allow 125x leverage or any of the weird loaning/yielding for which all the cefi platforms which includes bulgarian nexo is going down for now

the little time Ive been here Ive grown to like the link holders and listening to their great insights into the crypto world and its future, but Ive also seen they are intolerant hodlers who can't see the forest for the trees and that they should get out now because something very massive is about to happen and they will be very very angry.

I tried to look a bit into the Celsius wallets but have mainly found use of Aave, Compound and Vesper Finance until now.
Some of it can be seen in this wallet:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xdb5aa12ad695ef2a28c6cdb69f2bb04bed20a48e

They seem to have farmed using LINK as a collateral on borrowing platforms during the bull run when looking at this.

This seems to be their deposit address on FTX:
https://etherscan.io/tokentxns?a=0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1&ps=100&p=11

They mainly sent COMP, BAL and USDC 600-800 days ago
Then UNI, TSUD, BOBA, MATIC, USDP, USDC, BUSD, CRV, 1INCH, PAXG 290-132 days ago
FTM too 147 days ago
AAVE 132 days ago
They started sending LINK to this FTX address 123 days ago.
BNT 88 days ago
SNX 78 days ago
2.5 million MANA 41 days ago
536 WBTC 18 days ago then 9500 WBTC 15-16 days ago between the 12 and 13 June during the last BTC liquidation...
It's possible they may have had a margin call from FTX during that time or were partially causing the dump to profit from shorts.

One possibility is that they are selling the LINK of their liquidated users, but this is really strange when they sell the pumps and they started doing this this year on FTX.

Maybe we can find something else looking at older wallets.

>>50034124
agreed, though still have zero clue how they lost 400 million in a massive bull market

>>50031549
lel. read the latest cl post about staking. cl is gonna be getting blockchain gas grants, priority lanes, etc.

>>50027404
Yes this is what I thought 2 years ago. But by now it is undeniably exactly what is happening

>>50034345
If a blockchain like Ethereum generates money for miners and later stakers in exchange for network security, then they should also pay for the oracle services making their network useful and at least subsidize its operation on their network with high gas fees.

For some reason Vitalik was fighting against Chainlink last year and didn't want this, but it seems some L1s have finally understood the importance of oracle services and want to increase their adoption rate by facilitating its integration into their network.

A lot of DeFi and L1 chains made profits in the last 2 years from Chainlink oracles adding more user features.
There was no reason Chainlink had to bear all the costs for this forever.
They only did it in the initial phase to gain more users and the second phase where this value is recognized by L1 chains is finally starting.

Looking at the withdrawal address from FTX to Celsius we also see some of their deposited WBTC missing.
Celsius deposited 9500 WBTC during the last BTC crash between 12-13 June
https://etherscan.io/tokentxns?a=0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1&ps=100&p=2

But only withdrew 5000 WBTC leaving a 4500 WBTC difference at FTX...
https://etherscan.io/token/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599?a=0x845cbcb8230197f733b59cfe1795f282786f212c


It's also interesting to look at their MATIC token deposits.
They deposited 128 million MATIC tokens on the 16th of June to FTX here
https://etherscan.io/token/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599?a=0x845cbcb8230197f733b59cfe1795f282786f212c
But the price had already went down 1 week earlier.
Did they sell their user's collateral during a liquidation at that time or did they naked short sell 1 week before through a FTX liquidity facility?

Interestingly they withdrew 1.6 million MATIC 10 hours ago from FTX:
https://etherscan.io/tx/0x146d2b0ecaf492a2838c7660a29097c638f5baca111bacbdce0538563a5f4b0c
Which went to this wallet with 6.6 million MATIC
https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0?a=0xc131701ea649afc0bfcc085dc13304dc0153dc2e

But what are those 128 million MATIC tokens that were sent to FTX 2 weeks ago?
That's a lot of money like $50-60 millions, the missing 4500 WBTC is also in the $90 million order at current prices.

My current understanding is that Celsius may have changed their strategy this year after taking huge losses and started degen shorting everything they could like Nexo. They may have used DeFi yield farming during the bull run but this needs to be verified, maybe there is more.

>>50033557
How did sergey announcing staking 2 days early effect them?
Buy the rumor sell the news?

>>50024245
>Floppy tits
>Virgin

Anon that's what happen to breasts after breastfeeding, neither of them are virgins

>>50034976
"sell the news" works, when you know when the news comes out
but being blindsided by it with sudden hype buying from an unexpected good news drop is where they got fucked while trying to short

>>50034342
Maybe they held some crypto as company assets.
Given that their founders are all probably bullish on crypto and all own some

>>50035036
possibly though last i remember coinbase itself didn't have a large position in most cryptos
i imagine they fucked up trying to do that NFT shit on their platform, but in no way would i see that as a $400 million dollar fuckup

One less likely possibility would be that Celsius has been selling some of their tokens with enough liquidity to cover some of their losses and get enough collateral to prevent liquidations on FTX and Compound.
But this should not happen if they didn't trade the market and only did yield farming.

What's certain is that the very strong Chainlink fud campaign only works if someone is planning to short LINK.
Celsius has been the one most actively shorting LINK this time even more than Nexo.
There are no coincidences...

Someone should try to give more visibility on social media to this huge 128 million Matic deposit on FTX and try to get an answer from Celsius on the reason for this action.
https://etherscan.io/tx/0xf7112b26ec76913530140dbe36c6b9181a4d74a326314e7cdb76ef47fa4ef948

That's 1.6% of the circulating supply in one transaction for a token with less liquidity than BTC.

When staking is fully released most LINK holders will send their LINK to Nexo so that it can be shorted into the ground as punishment for Sergey the scorpion's betrayal
inb4 this is not a rational action. it is in the scorpion's nature to stab the frog in the middle of the crossing simply because

>>50035349
Nexo is insolvent.

>>50035417
No I will keep getting those sweet gains. I already took a 50% haircut withdrawing from Bancor and now that I send them back my remaining LINK I am earning 50% less but it was worth it.

I am the scorpion. I betray everyone even myself.

There was hope of a squeeze up until yesterday when the team announced they'd be dumping 50m tokens for the next 3 quarters.
The reason why we're in this situation in the first place is because the team flooded the market with coins for the past 2 years.
They've effectively bailed out every short against them.

Remember when Sergey was shilling DeFi the "8% APY you couldn't find in traditional finance" on every interview the past three years? Aged like fucking milk lmao.

>>50035602
It's called cheese you fucktard.

>>50035602
It's even funnier when it turns out that the source of the 8% apy was from shorting link deposits.
Will these shorters be punished? Will link holders finally be compensated for propping up the entire bull market with those lucrative rates?
Nope, here comes another 50m dump.

>>50025392
LINKtards have developed an emotional connection to Sergey after all these years so they don't give a shit about him market dumping extreme amounts. In their eyes he's doing it for the future success of LINK, even though he made LINK one of the top 10 worst performing alts this bullrun to do so

>>50035710

Yes now you are betting on him either letting the project fail or now using 5 years+ of runway to rise out of the ashes of the recent collapse while everything just continues to burn

FFS Coinbase lost 400MM. All of these exchanges literally had a license to print money and still fucked it up, honestly though it was kind of scandalous between Bancor, NEXO, and Celsius it was probably coordinated to some degree. They can just point fingers at each other anyway

>>50017289
It’s common knowledge that 90% of LINK OG’s came from /pol/, and are thus unironic Nazis and extremely racist. This is evident when you look at the chats whenever Chainlink presents at conferences such as consensus or smartcon. It’s always N word this, N word that.

I personally don’t want to put my money into a project like that and keep that sort of company. Moreover, I question the intelligence of people who shill LINK given their backwards and racist political views.

>>50035417
Great posts m8.
You should try to pass along your findings to crypto influencers to get the word out. It'd be a powerful narrative shift for normies to broadly understand that LINK has been systematically shorted to power the CeFi lenders causing so much of the broader chaos.

>>50035710
ChainlinkGod says that the dumps are something to celebrate and nothing to be afraid of
https://twitter.com/ChainLinkGod/status/1541498368202919937

>>50035878
What? I'm not betting on anything with LINK. I sold my whole stack in february last year when it dawned on me that Sergey cashing out was going to fuck up the bullrun for LINK, and there existed a hundred other projects I could put my money into that wasn't pissing against the wind in terms of price action

>>50035936
sergey is a fat russian scorpion so his betrayals are life

>>50035909
I think this should already reach some of them, but the question is how to organize this on a bigger scale.
Most social media are under control of CeFi jannies.
Twitter may be usable to spread the message, but we should not focus only on LINK.

From the FTX Celsius deposits we can see that Celsius sent a huge amount of Matic, WBTC, and also LINK and SNX.
The Nexo deposits to Binance show 40000 ETH deposited during the lowest price of ETH additionally to over 1 million LINK sold.

If we can spread awareness that this does not only happen to LINK but can happen to every token that a CeFi holds then it will gather more support and cause more withdrawals, while also making it more difficult for every CeFi to short user assets in the future.

>>50036099
good points problem is no one cares. no one is going to withdrawl from any of those platforms. Sergey has announced the dumps will resume which means more liquidity will be available on defi platforms to short LINK. CCIP will provide more cross chain liquidity for you guessed it dumping the price of link down so shorters can profit

Its ogre

>>50027404

You didn’t understand what i said.
If LINk moons independently = Celsius blow up because they have mega debt in LINK tokens.
If BTC go up it doesnt effect them in thise terms.
They have quite a lot of BTC too so what would the logical thing for them(and the rest of Cefi in the same position) to do if Link starts pumping independently and an imminent explosion of their leverage is possible?

Well they’d dump their BTC to try kill the LINK pump while selling some LINK tokens hoping they can buy some back cheaper. It explains it perfectly now imo.we have had evidence for so long of BTC dumping and LINK pumped and it always felt irrational and crazy and no matter what nobody could really offer a reason why other than some larger globohomo play because as you said, its just irrational.

However with these Celsius/Nexo/Cefi plays and their huge LINK debts coming to light it finally makes sense. Of course they’d dump their BTC to try save their asses from being completely liquidated. They are big fish in a small illiquid pond

>>50036254

So fucking obnoxious that the biz memes are going to come true and LINK is going to explode in a singularity-like fashion because of some goofy ass complicated jewish scheme that I wouldn't believe if you told me about it even last year.

>>50036292
Your hopium is bordering on schizophrenia. Just don’t rope when it crabs around $4 for a couple of years because another bullrun will come eventually so you can cash out at $30

>>50030923

It was revealed last night this is part of NEXOs cash cow. To liquidate retards who used their platforms in addition to short smear campaigns.
For example some retards actually borrowed assets from NEXO against their deposit.
So nexo once they get enough of said asset can do a massive dump, liquidate the users and keep their coins, and profit from shorting that asset too.

This is Celsius cash cow too obviously. They probably think they can reduce their liabilities to liquidating anyone who borrowed against their own asset, but only if they hold enough of certain assets to dump them. Were some people really birrowing against their LINK on celsius and nexo? Hard to believe when aave exists i think its likely for other coins.

Their obsession with LINK is probably just from all the factors already mentioned and as said why they had a worm on the inside to feed them all information to protect their shorts

>>50032301

This is why NEXO is a leaky tap to their strategy too because they desperately want to avoid locking users out even if they are already hurting, so people can still freely withdraw their LINK which is happening at pace but it could be faster. Im still shocked how much User LINK is on there but they even withdrew 400k from binance yesterday and sent it to the user withdrawal pool so they must be feeling the heat.

>>50036465
I haven't found any proof yet of Celsius doing this last year.
It's possible Celsius switched to this strategy this year after getting into their current liquidity issue from 3AC blowing up and getting the idea from Nexo of how to liquidate their users after blocking their withdrawals to reduce their losses...

However this strategy works with all of the assets used for borrowing on Celsius and even without heavy fud they can use it by just dumping on the market while it shows weakness.
I think there is something strange with this 128 million MATIC deposit from Celsius on FTX.
https://etherscan.io/tx/0xf7112b26ec76913530140dbe36c6b9181a4d74a326314e7cdb76ef47fa4ef948

This is currently worth $66 millions.
Maybe we can find out something through this angle.

>>50036600
The good news is that they were forced to buy back some of their shorted LINK.
It seems their ability to short LINK with user funds may have been reduced already and hit its limit.

The last 2 big targets are Celsius and the Okex wallet user.
It's possible by the way that Celsius or Nexo are the owners of these wallets and used Okex to hide their operations.
I think I saw some deposits from Nexo to Okex.
Maybe this is their doing.
This could explain why they are fuding more on /biz/ despite their smaller short size compared to Celsius.
The amount of effort and shills should be proportional to the amount of money spent on gambling.

Nexo being known for borrowing LINK from Aave and other platforms to short and being identified many times for this could have tried to hide again their shorting operation.
In this case they are short not 1.5 million but 5.5-6 million LINK with the Aave borrowing combined and with a similar size to Celsius.

>>50036292
>some goofy ass complicated jewish scheme
what's complicated about over leveraged + carry trade?

Your can bet the 75m staking slot will be entirely full, so even when they release the 50m there will still be 25m less link in circulation.
I cant even tell whos actual OGs and whos just paid shills and fud shitposter.

This is literally staking is fud all over again lmao

>>50037315
The 75 million getting staked will just be cold storage linkies anyway, it doesn't actually have an impact on liquidity because they aren't liquid. The 50 million getting released after basically getting sold off to fund operations, big fucking difference.

>>50037315
>Your can bet the 75m staking slot will be entirely full
this, but unironically
why wouldn't people flood into a position with 5% guaranteed with very very near-zero chance of losing any? (compared to BNT and celcius and blockfi and all those now obviously horrible options)

>>50036099
Someone make a condensed normie friendly informative screen cap about all this and ill shill it to influencers.

>>50036710
Do you have any of their short price targets?

>>50036465
Honestly I'm surprised that /biz/ doesnt seem to have any based gigarich whales of our own who would help with this stuff.
You would think due to 4chans higher average iq and collective of intjs that there would be some rich OGs, especially since early bitcoin used to be a neet hobby. I remember when anons were giving out btc when it was sub 100$.
We are getting Btfo by fucking bulgarians and its embarrassing.

Seems that atleast 50%+ of biz are 2020+ newfags

>>50037562
we grew up and became intp's

>>50037352
Still has an effect on supply, those cold storage linkies get sold into the marker sometimes. A lot of under 1000 stacks capitulated already.
Staking is more likely to keep people holding especially early staking since you will be lucky to be in that 75m cap and there will be a queue to get in. A big reason so much link was floating around is because there was no use for it, so any apy is better then holding to a person ignorant on the risks.
Now with this celsius blowup even normies will be more cautious going into the future

>>50037374
Thats a good point i totally skipped on that, yeah that is sure to drive demand, eth got a lot of hype from staking and people literally locked up their eth in 2.0 already.
Link is one of the only non inflationary staking coins, and it actually has a use.

>>50037697
Theyre pretty much the same thing, the P/J part isnt binary, people use both

I talked to an anon who had 1m link, and that was when it was 1$, at the top thats 50m, just saying eth was shilled here when it was 1$

>>50037717
>eth got a lot of hype from staking and people literally locked up their eth in 2.0 already.
literally locked up for 2 years, and people still rushing in over those 2 years to get a spot
v0.1 locks tokens, though will take a fuck less time than 2 years (hopefully goddamn it moneybelly) so since a v1.0 is a 100% thing while eth merge was still entirely uncertain i'd imagine those 75M will fill up very very fast
since, protocol rewards, both eth and link, are the most sure thing in terms of rewards (especially link where the nodes have a 99.99% reputation)

>>50037787
>just saying eth was shilled here when it was 1$
anons literally called it, years sin advance
and almost perfectly as well

Bump. May they all get squeezed and liquidated into utter ruination.

>>50039909
Deus vult!

>>50038856
Liar. Miner hashrate rises by far faster than people willing to commit to the third eth fork

>>50040669
lmao
miners follow prices, not prices following miners
miners are literal mercenary-whores-for-hire, that add literally nothing back to the ecosystem due to dumping their coins as they get them, and which have been very well compensated for their work
but now their time is over, and they'll move on to the next project to suck value out of

>>50040669
oh, and to add to it: the "killer apps", of defi projects, which have stable coins at their core, are all backing the PoS chain
so as soon as the PoS change happens, it implodes defi on the PoW fork, and dies off anyways when the difficulty bomb hits
the smart miners are selling their GPUs now, to buy more ETH for future staking rewards
since, you can buy a $200 dollar pc, and run a validator for a decade, vs having to buy a $20,000 dollar rig every few months just in the hope of even recouping your costs
it's a retarded as fuck system

Are there any RTX 3060 or RTX 3090 TI mining cards yet? I want to crack their drivers and use them for 3D rendering.

>>50035710
That pic literally shows Fantom, Solana, and Matic all dumping (a lot) more tokens than Sergey, and during the height of Sergey's "dumps" no less.
And then all of them mooned, except Link.

And yet you STILL can't get it through your thick fucking skull that the dumps have nothing to do with anything.
Take medication.

>>50041371
everything you posted except for meds was based.

t. off meds schizo chad

>>50022198
>As Sergey put it, "what is coming is inevitable."
You are taking this out of context, he was speaking about his next order at McDolan.

>>50026005
The blackpill you need to swallow is (at least a part of) the chainlink team was on board with the kikes' platforms to short link and bank on the token price going down..

Smart anons of /biz/ tell me about Aavegotchi. Is there a NFT project that's potentially the next BTC, ETH, Matic? Link was a disappointment, but LINK was never meant to make money. I think Sergey said the token's price was suppose to stay at 1 cup of coffee per chainlink.

>>50033739
>I expect the case to be particularly interesting given US regulatory scrutiny and a harsh court, where new precedents in relation to crypto may be set.
Wait what? This isn't in some Bulgarian court?

>>50042000
What a clueless newfag you are

>>50017289
Can someone post an updated version of OPs AAVE dashboard?

Is the borrow rate still 2.41%? Maybe someone with an AAVE account can look.

>>50017289
Is the team aware of this fuckery? It would be nice if we could send them a compilation of this information.

>>50042160
the team does not care about the price even when it is related to crypto economic security kek

>>50035936
>What? I'm not betting on anything with LINK

I didn't mean you personally just "you" as in people in general. That is the bet. They either let the project die or they have won because they have all the funding for years.

Otteroooo twitter account banned by mass reports, nexo and friends are DESPERATE

>>50043883
Absolutely fucking ridiculous
Nexo must pay

>>50042274
I seriously hope they are anticipating a significant price increase. 75 million tokens for the ETH/USD feed is only like $500 million, that's actually not a lot of collateral considering even just on AAVE ethereum mainnet there is $900 million worth of ETH deposited. I know the whole superlinear staking thing avoids the incentive for bad nodes to collude but this is an "early form of staking" not just in terms of features, but in terms of security, apparently.

>>50042157
>Maybe someone with an AAVE account can look
>AAVE account
>account
pls tell me you're joking

>>50017589
Moar

Bump

i hate Bulgarians so fucking much

>>50017289
FUCKING NOTHING.

more blah blah paid shills.

LINK token is not made to moon. Not made for normies like everyone here.

Link Network will massively successful. This will not translate to a high token price for many years.

You are better off buying a node ops token which will be directly tied to that node growth and profitablity.

Are there any Chainlink nodes that offer a token to normies?

>>50047416
Link is the most normie-friendly hype token there is.

Keeping this thread up in the catalog to spite the fudder insects

>>50049883
Based. Nexo is insolvent

>>50048813
was that before or after they've realized the economy is imploding and taking crypto with it?

>>50037390
Their short target would be to liquidate their users.
I don't know what the liquidation threshold is on Nexo, but I think they won't have more liquidations until the $5 support breaks.
Because that price was already reached 2 times there should be no more liquidation fuel until that support and further liquidations would be available under that price but we don't know how many and at what price.
The amount of LINK they sold on exchanges may give a clue on this.
It would mean they can make money on 2 million LINK if the price goes down to liquidate their users and they would make a lot of money because they already sold a lot earlier at higher price if that happens.
Imagine selling your user's collateral at twice the price then liquidating him when the price goes down because of you and taking another 10% cut on this operation.
I don't think this would be allowed in TradFi and they can certainly go to jail for this even with cryptos.

As long as the current support remains and Chainlink starts to recover they will be in a very bad position having shorted their users while being insolvent.

nexo is insolvent

machinsky tried to flee the country

>>50041833
I don't think so.
Celsius started shorting their user's asset this year meaning they already knew they were insolvent since January and this is a criminal activity which is why they were trying to flee.
Sergey may have learned of this only a few months later, but their successful defusion of the pump and dump attempt from Celsius shows they disapprove of this and their tricks won't work anymore.

>>50045054

GET YOUR LINK OFF CEFI, GT YOUR LINK OFF EXCHANGES, GET YOUR LINK OFF AAVE, BUY AS MUCH AS YOU CAN. LINK WILL BE BACK TO ATH ONCE WE LIQUIDITATE THE GYPOS

>>50030526
he's selling you more hopium anon
>50 million LINK are available to enter circulating supply over the next nine months (primarily coming from the 7 wallets of 7 million LINK each) to be used for various purposes, including oracle network rewards, the initial staking pool and the initiatives described below, among others.

bump

>>50051335
That only accounts for 49 million though what about the last million? Can I have it please Sergey? Oh please, I promise I won’t tell anyone.