A Look Behind The Celsius Curtain
Bloomberg Crypto28 Feb 2023

A Look Behind The Celsius Curtain

The story of crypto lender Celsius Network’s bankruptcy officially began last summer, when it filed for Chapter 11 and cited a severe liquidity crisis. At the time, FTX and its CEO were still heralded as promising figures in the industry, even as companies and users were struggling to get by in the midst of a grueling crypto winter.

But now, we're getting a glimpse of just how bad things were at Celsius, almost from its inception. The recent release of a final independent examiner's report contains a searing account of how the lender may have concealed ineffective risk management and misled customers.

In the report, Celsius appears to have failed to properly track assets and liabilities. They also failed to disclose crucial financial information about its native token, CEL, and falsely portrayed the financial state of the company as robust and healthy. It’s a whopping 689-page read. So - what else did it say about Celsius?

Bloomberg's Olga Kharif joins this episode to discuss.

Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

See omnystudio.com/listener for privacy information.

Episoder(224)

The Year in Crypto Regulations

The Year in Crypto Regulations

The Year of 2022 was supposed to be one of crypto regulation. Multiple CEOs, venture capitalists and trade groups for the industry globally had hired lawyers and lobbyists and prepared policy papers a...

22 Des 202218min

Life at the FTX Bahamas Compound

Life at the FTX Bahamas Compound

Sam Bankman-Fried might not have expected that his time in the Bahamas would include the inside of a jail cell. Bankman-Fried and his inner circle at FTX and Alameda Research relocated operations to t...

21 Des 202220min

Hedge Funds Question Crypto’s Future

Hedge Funds Question Crypto’s Future

In the aftermath of the FTX collapse - one of the most significant crypto exchanges in the industry, investors and hedge funds are seriously questioning the future of crypto.  FTX was once among the t...

20 Des 202217min

Jane Street's Culture

Jane Street's Culture

Sam Bankman-Fried has been arrested in the Bahamas and US authorities have unleashed some truly stunning charges against him, essentially accusing him of having his entire crypto empire as a personal ...

19 Des 202217min

This Week in Crypto: SBF Arrested

This Week in Crypto: SBF Arrested

Just a mere month ago, disgraced former FTX CEO Sam Bankman-Fried was the undisputed king of the digital asset industry. Now the 30-year-old is under arrest, facing criminal charges from the U.S. The ...

16 Des 202219min

What the Future Holds for Bitcoin ATMs

What the Future Holds for Bitcoin ATMs

Bitcoin ATMs could be considered symbolic of the state of crypto’s popularity. During the digital asset boom they kept on appearing in what could reasonably be considered unusual locations. Such as Am...

15 Des 202217min

Crypto's Very Bad, No Good Year

Crypto's Very Bad, No Good Year

It’s safe to say that 2022 wasn’t the best year for crypto. By late January, Bitcoin had already shed half its value from its all-time high set the previously November - nearly $69,000. And Bitcoin pr...

14 Des 202228min

How the 'Alameda Gap' Is Impacting Crypto Markets

How the 'Alameda Gap' Is Impacting Crypto Markets

For the last six months or so, the digital asset industry has been knee-deep in the trenches of a ‘crypto winter.’ Now, the demise of Sam Bankman-Fried’s FTX and Alameda Research have produced a drama...

13 Des 202213min

Populært innen Politikk og nyheter

aftenpodden
giver-og-gjengen-vg
lydartikler-fra-aftenposten
forklart
i-retten
aftenpodden-usa
stopp-verden
popradet
det-store-bildet
rss-gukild-johaug
fotballpodden-2
dine-penger-pengeradet
rss-ness
nokon-ma-ga
hanna-de-heldige
e24-podden
aftenbla-bla
grasoner-den-nye-kalde-krigen
frokostshowet-pa-p5
bt-dokumentar-2