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Forum » Celsius just blocked withdrawls (Celsius Coincels come in here for sympathy reps)
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Thread: Celsius just blocked withdrawls (Celsius Coincels come in here for sympathy reps)

post 1662776343 06-13-2022, 02:52 AM
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#31
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Originally Posted By mcdojo⏩
They have 4 billion in btc? But how much are their debts and other obligations including user funds?

They will get bank runned whenever they open, unless they plan to never open withdraws again
They have SIGNIFICANT assets, and btc/crypto price going down, only helps them a lot. They have to liquidate less, and their borrowers loans get defaulted on. Win win for them. Doesn't matter if they get 'bank runned' their whole plan is to take time to sell assets (btc) to get liquidity in other assets (mainly ETH). Alameda just redeemed 50k stETH for Eth and caused celsius to have to swap out a **** ton of their liquid eth. Meaning people trying to withdraw eth are ****ed because so much of their eth is tied up staked/eth2 to which isn't easily swappable back to regular ETH without realizing losses. It makes more sense for them to take some of their btc nest egg, sell it off for liquid capital they can then use to solidify withdrawals as necessary. They are doing this anticipating a bank run is my guess.
post 1662776373 06-13-2022, 02:53 AM
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Celsius, which was valued at $3.25 billion when it extended its “oversubscribed” Series B financing round to $750 million in November, allows users to deposit their Bitcoin, Ethereum and Tether and receive weekly interest payments. Depending on the time horizon and the token,the platform offers as much as 18% interest a year. On its website, Celsius says 1.7 million people call “Celsius their home for crypto.”
https://techcrunch.com/2022/06/12/cr...ket-conditions

Where's the interest coming from?
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post 1662776463 06-13-2022, 03:00 AM
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#33
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Originally Posted By ooph⏩
They have SIGNIFICANT assets, and btc/crypto price going down, only helps them a lot. They have to liquidate less, and their borrowers loans get defaulted on. Win win for them. Doesn't matter if they get 'bank runned' their whole plan is to take time to sell assets (btc) to get liquidity in other assets (mainly ETH). Alameda just redeemed 50k stETH for Eth and caused celsius to have to swap out a **** ton of their liquid eth. Meaning people trying to withdraw eth are ****ed because so much of their eth is tied up staked/eth2 to which isn't easily swappable back to regular ETH without realizing losses. It makes more sense for them to take some of their btc nest egg, sell it off for liquid capital they can then use to solidify withdrawals as necessary. They are doing this anticipating a bank run is my guess.
So you dont know if their debts and obligations are more than their assets? It doesn't matter how significant their assets are if their debts are higher.
post 1662777183 06-13-2022, 03:46 AM
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Originally Posted By BraddlesMcGee⏩
https://techcrunch.com/2022/06/12/cr...ket-conditions

Where's the interest coming from?
https://www.barrons.com/articles/cel...es-51652906401
Originally Posted By mcdojo⏩
So you dont know if their debts and obligations are more than their assets? It doesn't matter how significant their assets are if their debts are higher.
You don't even know what this company does, do you?

They are a lender. They collateralized their loans with user funds that users deposit...


https://www.barrons.com/articles/cel...es-51652906401
post 1662777333 06-13-2022, 04:00 AM
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Originally Posted By ooph⏩
You don't even know what this company does, do you?

They are a lender. They collateralized their loans with user funds that users deposit...


https://www.barrons.com/articles/cel...es-51652906401
This is what the company themselves say they do: "We earn profits by lending coins to hedge funds, exchanges, and institutional traders, and by issuing asset-backed loans at an average of 9% interest. We’re taking the exact same 80% profit margin that banks have kept for themselves for centuries and returning it to our community of depositors."

So what happens when a hedge fund, exchange, institutional trader, defaults on them? Celsius cant earn profit margin (which is the interest they pass on) with no risk.

If they get defaulted on, then their assets will be less than than the deposits which they owe to users.

We also know based on the State of New Jersey that they use the funds to engage in "propriety trading". What happens when they lose money on their trades? We know they lost $100m~ on stakehound, and $50m~ on BadgerDAO.
post 1662777643 06-13-2022, 04:23 AM
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2 weeks ago

Nocrew crew

SS final perma ban request
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post 1662777833 06-13-2022, 04:34 AM
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#37
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Originally Posted By mcdojo⏩
This is what the company themselves say they do: "We earn profits by lending coins to hedge funds, exchanges, and institutional traders, and by issuing asset-backed loans at an average of 9% interest. We’re taking the exact same 80% profit margin that banks have kept for themselves for centuries and returning it to our community of depositors."

So what happens when a hedge fund, exchange, institutional trader, defaults on them? Celsius cant earn profit margin (which is the interest they pass on) with no risk.

If they get defaulted on, then their assets will be less than than the deposits which they owe to users.

We also know based on the State of New Jersey that they use the funds to engage in "propriety trading". What happens when they lose money on their trades? We know they lost $100m~ on stakehound, and $50m~ on BadgerDAO.
Correct, and what you're not understanding is with bitcoin/crypto prices dropping, they will be coming out on top. If a borrower puts up .5 btc when BTC was valued at $50k, and say they lent that money out to a hedge fund or exchange or whatever... It's a lot easier for them to now cover that .5 btc because the price has dropped so much.

I'm sure they are down quite a bit, are they down 4billion? No. Their biggest issue was Alameda liquidating all of their stETH and them having to come up with Eth liquidity.

"they get defaulted on" - You mean the EXACT same thing they are doing to borrowers who can't pay back their loans and are all getting liquidated/defaulted on...
Originally Posted By BraddlesMcGee⏩
2 weeks ago

Everybody I know pulled out of Celsius right after the anchor fiasco. Best thing to do is get everything into your own hands and see where the chips fall down the road.
post 1662778353 06-13-2022, 04:59 AM
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misc bought billions of crypto.. you have to wonder who was selling it to them
post 1662778543 06-13-2022, 05:12 AM
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Originally Posted By ooph⏩
They have SIGNIFICANT assets, and btc/crypto price going down, only helps them a lot. They have to liquidate less, and their borrowers loans get defaulted on. Win win for them. Doesn't matter if they get 'bank runned' their whole plan is to take time to sell assets (btc) to get liquidity in other assets (mainly ETH). Alameda just redeemed 50k stETH for Eth and caused celsius to have to swap out a **** ton of their liquid eth. Meaning people trying to withdraw eth are ****ed because so much of their eth is tied up staked/eth2 to which isn't easily swappable back to regular ETH without realizing losses. It makes more sense for them to take some of their btc nest egg, sell it off for liquid capital they can then use to solidify withdrawals as necessary. They are doing this anticipating a bank run is my guess.
The bank run will be huge, no one will leave their crypto in Celsius again.... the trust isn't there in my opinion but we will see. Amazing for coinbase and ftx. All the small players are going to have people running to big firms like coin
GAINS, GAINS, More GAINS
post 1662779363 06-13-2022, 05:46 AM
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#40
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Originally Posted By mcdojo⏩
Their former Head of Instiutional Investments did girls do porn. You can literally see her face get blasted with cum.

And you trusted her to manage your $10k?

Ngmi
the fact that your more pressed about 10 grand than me indicates whose not gonna make it here champ. as noted in the op, not a big issue for me. but i did not know that 1 female at the multi-billion dollar company was a whore. what a shocker!
Originally Posted By ooph⏩
Celsius will be fine.

They have 4 bil in BTC and 50,000 eth

Their issue is they have so much staked eth and eth2.0 that with a run on the bank, they can't quickly liquidate assets to acquire more to push through more withdrawals...

Your money is fine though and not going anywhere. This isn't a case of anchor lol.
Yea i was thinking roughly the same thing here but the public image is certainly tanked after this which is important to me with investments so despite how much I liked there interface I cant see myself investing with them at this current level is all.
Originally Posted By Fang2⏩
All you crypto kunts might as well take your ass and money to the casino and gamble. It's the same thing.
negative, start by googling eth.
Originally Posted By ontclone⏩
The bank run will be huge, no one will leave their crypto in Celsius again.... the trust isn't there in my opinion but we will see. Amazing for coinbase and ftx. All the small players are going to have people running to big firms like coin
I assume it will be a timed withdrawl to prevent or mitigate this. IE users can withdraw 10% or say 3,000 each this day then keep scaling up/down. couple it with increased rewards for leaving assets staked/invested
I dont give a f*ck about a b*tch on the internet
post 1662779543 06-13-2022, 05:52 AM
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Originally Posted By Legacyx⏩
but i did not know that 1 female at the 4 billion dollar company was a whore. what a shocker!
I just got it on biitorrent.
E349 Jessica Khater

She's been DMCAing Google to hide links.
Nocrew crew

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post 1662779743 06-13-2022, 05:58 AM
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Originally Posted By mcdojo⏩
Who OP trusted with his money

Someone should post this on LinkedIn under the pretence of applauding her for her stunning bravery.
post 1662779753 06-13-2022, 05:58 AM
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Originally Posted By gwg77⏩
Jessica Khater

GDP 349 (I think)


Forbes 30 under 30 too:


https://www.forbes.com/profile/jessi...h=c615b99724dd
Oh that's funny, she was probably probably my favorite one of these. Have probably busted like 20+ nuts to that video before back when I was into GDP.

I tend to have a thing for friendly fun manipulative golddigger type girls, which she obviously is. That's clearly how she got the position.
post 1662780063 06-13-2022, 06:09 AM
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“Buy the dip”
post 1662780363 06-13-2022, 06:19 AM
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Originally Posted By beegeener⏩

Reddit-take on 4chan. It's really over now.
post 1662781153 06-13-2022, 06:44 AM
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[QUOTE=mcdojo post_id=1662773433]Who OP trusted with his money

[Ig]https://pbs.twimg.com/media/FTwuugDaMAEjNpa?format=jpg&name=medium[/img][/QUOTE]Holy fuk.. BRUTAL

She's laughing all the way to the bank huh
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post 1662781833 06-13-2022, 07:00 AM
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Originally Posted By sam212⏩
girl just married her current CEO. Quite an ascent to the top.

https://www.theknot.com/us/bert-moul...hater-may-2022
Lol! I have fuked a bunch of girls and done a bunch of degenerate chit in the Sofitel in Colombia that they're getting married at.
post 1662782513 06-13-2022, 07:20 AM
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Co-founder Alex Mashinsky was using his Ukrainian heritage to stop people attacking him and instead sympathise with him. And defending his wife slowly withdrawing funds the last few weeks citing some bs reasons

and other Co-founder- Nuke Goldstein


How do people keep giving money to these people? How do people not take one good look at who they're sending money to and decide against it.
post 1662782833 06-13-2022, 07:29 AM
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#49
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OG's know BTC dropped like this 5-6 years ago lmao. Stocks are plummeting too. Chit will be back. The plebs that are cashing out are the ones who watch all the youtube bs and bought at the tippy top. If this chit loses 90% of its value im going in dry on ETH, BTC, and ADA. LET IT DROP! Get these fuking idiot youtubers to eat crow. The good projects (Top 10) will survive. The rest will be dust.
This fool's running a Honda 2000
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post 1662782903 06-13-2022, 07:30 AM
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Yall should have listened to Michael Burry, the guy from Big short fame.


He said in 2021 that crypto would crash bigly in 2022.

Yall got greedy though and the speculation bubble got you thinking you'd be an overnight millionaire.
post 1662783013 06-13-2022, 07:31 AM
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#51
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Said all along this is all one big grift. Question is do you cash out before the powers at be decide they've made enough to cash out and F all the stupid people over.

Brought it on yourself.
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post 1662783303 06-13-2022, 07:37 AM
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Centigradecels on watch, their fault for trusting anything but Imperial freedom units
post 1662783473 06-13-2022, 07:40 AM
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Originally Posted By Jms89⏩
OG's know BTC dropped like this 5-6 years ago lmao. Stocks are plummeting too. Chit will be back. The plebs that are cashing out are the ones who watch all the youtube bs and bought at the tippy top. If this chit loses 90% of its value im going in dry on ETH, BTC, and ADA. LET IT DROP! Get these fuking idiot youtubers to eat crow. The good projects (Top 10) will survive. The rest will be dust.
-ada
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u wot m8?
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post 1662783583 06-13-2022, 07:42 AM
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Originally Posted By Jms89⏩
OG's know BTC dropped like this 5-6 years ago lmao. Stocks are plummeting too. Chit will be back. The plebs that are cashing out are the ones who watch all the youtube bs and bought at the tippy top. If this chit loses 90% of its value im going in dry on ETH, BTC, and ADA. LET IT DROP! Get these fuking idiot youtubers to eat crow. The good projects (Top 10) will survive. The rest will be dust.
When all these concells end up broke, the gov't is going to come in, slap a chit load of regulations on crypto and it will take 30 years to reach the heights it did.
post 1662783733 06-13-2022, 07:46 AM
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Might be safe to say we shouldn’t expect either crypto or speculative stocks to rip to any meaningful degree until monetary policy changes back — this is all fed by low interest rates and money printing

We’re now in an inflationary environment probably none of us have experienced as adults
post 1662785293 06-13-2022, 08:28 AM
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Post deleted by user
post 1662796603 06-13-2022, 11:50 AM
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Originally Posted By ymer⏩
Real time meltdown.

I would be panicking too if I was being scammed for all my savings.
I've never touched celsius ever... They require KYC. LMAO.

I could lose all my savings and still have a net worth significantly higher than yours will ever be...
post 1662839393 06-14-2022, 08:31 AM
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#58
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Some perspective.

From all time high.

AMZN -24%

TSLA -48%

NVDA -65%

BTC -69%

NFLX -78%
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