Nearly 500 pages of damning evidence that Celsius was little more than a money incinerator that finally ran out of fuel.
Your terrific analysis confirms my strongly held belief that there should be no regulation of crypto whatsoever by any entity state or federal. Having explicitly justified its very existence on independence from (and revulsion for) government and banks, the crypto world has now spent well over One Hundred Million Dollars lobbying to be regulated. To the crypto world regulation would be a lifeline. Government engagement with crypto other than enforcement of existing laws would be viewed by the public as awarding the "Good Housekeeping Seal of Approval" to what are essentially computer-generated nothingburgers.
Cryptocurrencies are simply "collectibles," like Beanie Babies or baseball cards, and deserve no official respect. In the words of Gertrude Stein, "there is no 'there' there. There are about 180 real currencies in the world. That is, money used daily in everyday life and commerce. In contrast, untold thousands of cryptocurrencies have been conjured into existence using an occult "special sauce" called blockchain. And their only purpose has turned out to be speculation and fraud (not to mention being a boon for extortionists, arms dealers and drug cartels).
It is my fervent hope that your efforts in exposing this bizarre parade of lies and frauds will prompt a lightbulb moment for Congress. Well Done!!
A clinic, I’m glad you took one for the team on this.
Additionally I read Ed’s post too, and damn he’s got a great take as well.
Reading this article made me want to go back and read the report. 400+ pages is too much for me though!
I’m interested to see where this ends up, criminally. I spoke to the FBI back in Aug about the market manipulation and I don’t know what they did from there. No follow up calls, subpoenas, etc.
I was subpoenaed to testify in front of a few states and was told of the record that they didn’t have plans to pursue criminal charges. That was after testifying, under oath, to market manipulation and provided them with docs. I’m sure they said it off the record in case that changed. I know they subpoenaed other former Celsius employees more recently.
I have to say, too, I was a bit disappointed that I didn’t get to speak to the examiner. I guess my wig wasn’t big enough.
I am so happy to read your expert analysis about these flim-flam companies and con men. It only takes a little smell of profit meat to entice them out of the darkness. Once exposed for their filthy deeds, your reports and analysis keeps them cooking in the spotlight. Keep up the good work. I wish there were more journalists like you.
“oohh, this man is going to JAIL” - Love this! The facts are important, but, I come for the commentary...
Since you didn't plaster your account with 'allegedly' I suppose you are not too afraid of libel cases given the (allegedly) obvious description of alleged crimes in the report, but the kind of character you are up against may still slap(p) one on you out of spite.