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Laura Shin

Why the Celsius Examiner Report Shows 'a Complete Disaster in Almost Every Way' - Ep. 451

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Following the release of Celsius' examiner report, Kadhim Shubber, an investigative reporter at The Financial Times, dives into the controversial business practices of the lender, how the company inflated the CEL token, the use of customers' money, and much more.

Show highlights:

how Celsius used investors’ money to prop up the price of CEL

the reasons why Celsius inflated the CEL token

where the money to pay rewards to investors came from

blatant misstatements from Alex Mashinsky and how his team tried to cover him

how the company leveraged Bitcoin to fill the hole in its balance sheet

who was responsible for Celsius' shady business practices

Celsius' poor investment decisions

whether Mashinsky is at risk of facing criminal charges

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Guest
Kadhim:
Twitter

Links

Final report of Shoba Pillay, examiner

Financial Times: Crypto lender Celsius misused customer funds for years, examiner finds

Unchained: 7 Revelations From Celsius’ Examiner Report

CoinDesk: Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner

The Block: Tether denies it borrowed $2B from Celsius, as described in court report

Blockchain News: Celsius' Official Creditor Committee Denies Rejected Bids

Ram Ahluwalia’s take on the Celsius bankruptcy examiner report

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2023
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