Why Celsius Fell Apart

As hard as I tried, I couldn’t even fit everything in this video, as long as it is… so here’s EVEN MORE DETAIL FOR THOSE INTERESTED! Alex Mashinsky’s Connections to Past Rugpulls– Alex has some strange connections to prior failed ICOs, that look like RUGPULLS. This was reported initially by Dirty Bubble Media: Basically the story goes that Alex has an NFT twitter profile that proves his ownership of this wallet: 0xc33192B79AD149b05169516A8aF2adc6e1E08EF6 This wallet is then connected to an account that dumped a bunch of ICO coins from companies he previously advised on—SIRIN LABS and MICROMONEY. But it doesn’t stop there, some of the sketchy hires we discuss in this video, like the ones arrested for money laundering are CONNECTED to these past rugpulls, as explained by UpperEchelonGamers.(linked in description) stETH/ETH liquidity issues: Not to be confused with the Stakehound situation, Celsius had further issues with an ETH2.0 derivative on DEFI pools where they found themselves stuck either keeping their staked ETH2 or selling a derivative worth less. Linked: www.coindesk.com/markets/2022/06/14/staked-ether-b… Let me know what you think of longer videos like this!

"The government is corrupt so let's give our money to anonymous people in a deregulated system." -Crypto logic

My dumbass thought it was the temperature

I think the failure of all crypto companies could be summed up by the following phrase “Everything was going great till people started wanting their money”

And here we are one year later: Mashinsky is indicted by the DOJ and sued by the FTC, CFTC, and SEC. Great work as always Coffee! Investigative journalism at its finest

I owe Coffezilla big. I took all my assets off Celsius right after his Luna video at the beginning of May. It really made me think twice about who I was trusting with my money.

Well he definitely delivered on the promise of unbanking their customers.

What I can't get over is him claiming that VOIP was completely disconnected from the phone companies/infrastructure, as if the internet didn't operate over phone lines in the 90's.

This is like watching all the personalities of all the toxic people I have encountered in my personal life play out but with billions of dollars of innocent people's money.

It pays to always be suspicious of people who constantly position themselves as standing against some easy villian like the banks, the media, big pharma, etc. It's just an emotional appeal meant to lower your suspicion.

Celsius : "We're not a bank." Also Celsius : "We enable you to deposit your coins and enable you to lend them to someone else"

Coffee is probably Youtube's very best at the moment. The amount of research and ACTUAL work put into these videos in insane. Not to mention the fact that his editing is perfect and he's an overall hilarious guy.

Yikes! As someone who had 40% of his crypto on Celsius, this is sobering to hear. I was initially hopeful that I would recover my crypto I had with them. I really thought Celsius was a low-risk place to earn yield because so many prominent youtubers talked positively about Celsius and Alex was on their shows so often. This has been a very painful lesson to learn.

OMG I completely agree Coffee, who tf brings a laptop to the beach it’s just gonna get sandy, wet and over heat and honestly if you bring any electronics to the beach it just completely goes against the entire idea of going to the beach altogether your meant to get sandy and wet. Also I guess the stuff about Celsius was a good point to.

My biggest regret in all of this is that I'll no longer be able to ask cryptobros of they are 'in CEL'

Years ago I was in a LARP game, playing as a Russian inventor/businessman (which was actually a liar and scam). I saw my character in the clips of this Mashinsky guy. Btw. In the lunch break, another player told me that I was talking great things and everyone seemef to be on board with my plan but he won't be trusting me because my character is Russian and I laughed.

"Having someone with only two years of experience handling hundreds of millions of dollars in customer money is always going to be bad." FTX: Hold my polycule.

Ahh yes. Celsius, it's like a bank, but not a bank, with lending like a bank that isnt bank like, without regulations like a bank. I wonder why it all went wrong.

8:38 "What are you doing to earn money with it?" "It earns at 5.5%!" "But HOW?" "It DOES do it!" "But HOW does it do it?" "It does generate money!" "But HOW?" That's basically what happened there, while the pretty lady just pretended to smile.

"There's no 'I' in 'Team', but there's a 'con' in 'Economy'" - Cryptobros, probably