I’m sure almost all of you have heard about the Celsius saga by now, but I bet you don’t know exactly what happened or even what exactly is going on.
That’s why I decided to do a deep dive into one of crypto’s most popular platforms and its suspected insolvency.
To be clear, we have yet to receive confirmation that Celsius is insolvent, but given all the headlines we’ve seen about Nexo wanting to acquire it, Celsius hiring lawyers to restructure the company, and Celsius’ early investors refusing to help… it’s quite likely.
How Celsius found itself in this situation is a complex topic, but the short answer is a combination of overstretching and overleveraging. Celsius was growing too quickly, and the crypto market downturn seems to have caught it off guard. There might also have been other entities that looked to capitalise on its collapse.
If you’re wondering what all of this means for the CEL token and whether Celsius could ever come back to life, be sure to stick around until the end.
⛓️ 🔗 Useful Links 🔗 ⛓️
► Celsius About: https://celsius.network/about-us
► How Celsius Crashed According to CoinDesk: https://www.coindesk.com/business/202…
► How Celsius Crashed According to Decrypt: https://decrypt.co/102769/what-is-cel…
► How Celsius Crashed According to Plan C: (Part 1) https://twitter.com/TheRealPlanC/stat…
► Celsius Short Squeeze Explained: https://cointelegraph.com/news/celsiu…
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.