🚨LIES EXPOSED🚨
Celsius orchestrated years-long scheme to mislead customers
$25B that was swindled from YOU....EXPOSED 🧵👇
(I feel so cheated now)
Former Celsius CEO @Mashinsky has been arrested and charged by the U.S. Department of Justice with...
...securities fraud, commodities fraud, wire fraud and conspiracy just to name a few.
Under Mashinsky's leadership, Celsius grew rapidly from 2021 to late 2022, with assets under management increasing from $10 billion to $25 billion.
Interview in 2021 shows that @Mashinsky tried to down play the risks.Â
However, as the price of Celsius' native token CEL was dropping, Mashinsky told users to "hodl" while the company sold off its CEL reserves...
and its influencers did the same.Â
Continued the shills, continued dumping on YOU
...while Celsius transferred hundreds of millions in crypto to KeyFi, Jason Stone without a formal agreement.
Celsius used misleading promotional emails promising unrealistic interest rates up to 17% to attract depositors to its lending platform.
Such as:Â
"Pour Yourself a Cup of Profits"
"Profits in your Pocket"...
...were used to promote its interest-earning program, which promised investors returns of up to 17%,
Alex also sincerely believes that with a fixed yield he could scale.Â
If anything promised a high fixed yield, you are the yield
Celsius engaged in risky trading and uncollateralized lending with customer funds.
And falsely claimed to have raised $50 million from its initial coin offering and to have 1 million active users, when in reality it had around 500,000 depositors with many no longer active.
They cared more so for themselves.Â
And had no regard for the well being of their depositors.Â
Appalling
Today, so much of its holding its in CEL which is pretty now useless anyway.Â
Alex's mates have all been caught except one.Â
wen zhu su?
Twitter: https://twitter.com/arndxt_xo/status/1682714618949664768