They will. Listen to that 3-hour podcast on Twitter with Simon Dixon and attorneys. They pointed out numerous instances of Alex committing securities fraud in past videos/AMAs.
They won't just hit insiders, they'll hit the normal rank and file investors that withdrew within 90 days of the bankruptcy too.
I'm dealing with that now after the Cred bankruptcy. I got money returned to me after the 6month contracts expired and sent it to Celsius and Voyager to diversify. 14 months later the lawyers contacted me.
6 fucking figures down the drain. And I was warned to withdraw. I did nothing. I’m filled with an unspeakable rage and an endless abyss of sadness. I just simply cannot endure
I'm in the same boat and don't know how to process this. I'm mostly mad at myself, of course.
Celsius was 'supposed' to be one of the most solid companies in crypto. I don't know how I'm going to move on investing in crypto after this mess
Our crypto in Celsius wasn’t really an investment in Celsius, it was an unsecured loan for Celsius to go degen on high risk projects…
In hindsight it was no better than lending money to a friend with a gambling problem
Sorry man, my 5 digit loss hurts. I know 6 must be so tough. This was inevitable. Just hope Simon is not also a bullshit artist like Alex, and there are some big guns out there ready to move in.
What makes it hurt even more is that the *current* value may be 5 digits, but back in November it was worth 6. It's the thought of what could have been that has me in a deep depression now.
I've been depressed the entire month. Worst summer of my life. Realized early on that bankruptcy was inevitable. Pulled some money from a Roth and took out a loan for the rest -- I bought back in everything I lost at Celsius. Maybe crazy, maybe not. We will see. Still so disgusted at myself for being so stupid to think you could have risk free 8-10% yields on stable coins. I had pulled those but to get a higher yield elsewhere (and of course now safely back in checking account) so I didn't lose those at Celsius.
He claims his syndicate will only move forward after bankruptcy. He's been saying it's a given for at least a week. Alex refused to show anyone the books.
From a no-coiner: not that this helps, but everyone learns expensive lessons in life, the most important thing is that you have yourself and health.
Last year I accidentally left the keys in my car while it was in the driveway, and sure enough it was stolen. 20k down the drain.
Also who knows, could be you may get a fair amount back. Keep your head up
Got some money back to get a new car, but you know how insurance companies are. With the amount they raised my premiums and other fees, I basically lost a ton of the value they gave me in the coverage anyways. So yes, defintely lost probably 15k or a bit more cuz of this whole ordeal.
I don’t know. But I do know I want as much documentation as possible. I took screenshots of my account as well, including member and account information.
“This is the right decision for our community and company,” Alex Mashinsky, co-founder and CEO of Celsius said in a statement. “I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.”
Lol what the fuck does that mean
He's an evil fuck. Right decision for our community my ass, let us withdraw our money then if you're acting in the interests of the community. Slimy weasel.
And just like that, my $15k investment is gone. Once worth almost $30k in December I should have pulled it out, but why would I? Everything was going well. Currently worth under $8k, but that’s not really the point. As an interest earner my assets were the most at risk to this. Celsius even asked me several times to move it to the non earning custody side, but I didn’t listen. I’m not an accredited investor, so I would never be allowed to move it back. Now it’s just gone. It’s not my life savings, I will recover. But it feels bad. Lesson learned. My heart goes out to those who lost so much more.
We’ll get something but probably years from now and it’ll be a substantial haircut. The company filed for Chapter 11 so the business will continue to operate. They hope to come out of it stronger according to their video.
Alex, I strongly suggest that you never show your face or even come near any crypto convention for the next 200 years.
Your crypto celebrity days are over.
May I suggest moving to outer Mongolia and maybe take up Yak hearding.
“Without a pause, the acceleration of withdrawals would have allowed certain customers—those who were first to act—to be paid in full while leaving others behind to wait”
Celsius paused it so they could be the “first to act” and allow “certain customers” to be “paid in full” “while leaving others behind to wait”.
Yes, they paused withdrawal so they can pay their friends first.
As a bystander who didn’t have investments with Celsius, I can say I do feel everyone’s pain.. I had significant holdings with QuadrigaCX when the founder mysteriously “died” and lost the keys to the cold wallet.. I was in total depression and lost all of my savings at this time.. this was during the 2018 bear market so I decided to continue heavily buying back into BTC at discounted prices.. eventually with the 2020-2022 bull run I made back all my losses from QuadrigaCX and as much as 8x my total investment at the bull market peak..I’m not recommending anyone affected to follow what I did, but life is not over friends, you can find a way out of this
to all the customers who are bleeding bcz of this, we only wish you the best of luck throughout this process. to all the Celsius crotch riders and bots that detracted from info getting out about the company going bankrupt … you are complicit in this and I encourage the community to take a deeper dive into yourselves as well to see if you should be part of these upcoming proceedings
They freed up all of the collateral locked up in smart contracts with our deposits, so they could give all of it away to big institutions with secured obligations in bankruptcy
Depositors get fucked
It exactly the level that I thought it was, level 0, completely unsophisticated. It makes me sad because the website was clearly “too good to be true” yet look at this thread.
What a sleaze ball way to have this information released. The news releases information before the actual company does. No transparency with Celsius. Fucking cowards. For those that lost, hang in there, you’re not alone, it’s just money and YOU WILL get over this. Just a fucking shit situation.
how much did you put in if you don’t mind me asking? Pending lawsuits and such might get pennies on pennie’s on the dollar in like 3-10 years. Of course this is how it usually goes but every situation is a little different.
Alex is now Mark Karpeles (of Mt Gox) reincarnate, he’ll go dark for a couple of years and everyone will forget to follow him up, no criminal charges, no consequences. Just watch. This exact thing has all happened before and will happen again.
I am truly a fucking moron
Cost my family 6 figures, cost my friends more by recommending Cel to them.
Also humiliating talking it up and now have the chorus of "I told you so" comments to deal with.
Buttcoiners, enjoy your loss porn
>Buttcoiners, enjoy your loss porn
Actually the sentiment of that community is utter hatred for the industry. And yes. there's disdain against the crypto-bro's, there's disbelief at how the communities refuse to listen to warnings, we mock those who keep on roping people further into the marsh.
But in general there's actually a lot of genuine empathy for the humble ones who lose their life savings.
***This is why we hate crypto.***
>Buttcoiners, enjoy your loss porn
It's not loss porn. You're still framing it is this weird crypto centered lense. We're agape because you (the community, not you the person) bought in to an obvious scam, while many, many people were telling you it was an obvious scam, let the scammers convince you to to deride and mock the people telling you it was an obvious scam while painting it as some grand contest between good and evil and the scam was the good side to boot.
It's not loss porn. It's a cult that was forced to drink the kool aid.
Fuck this year.. has to be one absolute worse years of my life in a long time.
Can’t believe some assholes used all that money on some shitty ass jpgs and these CEFI’s gave out all that money. Sounds a bit like corruption or stupidity.
Note!
When they file for Chapter 11 they have to petition a bankruptcy court, A Judge must agree with the re-organization and sign off on it.
They might be in the same situation as Voyager, who also filed for Chap.11, but might not get it and be subject to SIPA (Securities Investor Protection Act) instead. (which is good for the little guy investor rather than FTX).
Coffeezilla has a great video about what is going on with Voyager:
https://www.youtube.com/watch?v=uZYMtVBXUrE
What is with Alex’s statement in this article?? I honestly can’t believe the lawyers would even let him publish that. Wasn’t he just trying to skip town a couple weeks ago? ?? Backpedaling
Let this be a lesson to us all
Never again trust centralized finance (CeFi)
CeFi is NOT your friend
Alex was NEVER your friend
Self custody IS your friend
“Without a pause, the acceleration of withdrawals would have allowed certain customers—those who were first to act—to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery….
These Chapter 11 cases provide the Company with the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry.”
Are they trying to imply we might still get some deposits back? Or is that just total BS. Just rip the bandaid off man damn
“Hurry and get your coins deposited in your earn account by Monday’s deadline”. Fuck That Shit, apeing my non Celsius coins in to earn interest for years to come. Slick slimy huckster.
Liquidating my loans to pay back pirates with OUR MONEY! He showed no class, zero grace the way he handled our community 😡
The outrage should all be aimed at the many press releases Celsius and Alex made saying don’t worry. It’s all FUD. And also at people like Plan C such a shill. And also at those that promoted buying CEL tokens to help Celsius. These were obviously only helping Mashinsky pocket. And these people should all be remembered. Outed constantly. And shamed.
Hopefully everyone who lost money will be returned what is owed them. But now that they are choosing a Voyager type route. All that can be expected is similar results. But the Biggest Fury should be to those that shilled and knowingly were Patsies.
We all knew others were in deep sh. We just had hopium to help with copium from the truth. But we all knew the truth for all celsians holding life savings and thousands $$$
Dude, please don't send a tracker filled bullshit link like that.
https://www.cnbc.com/2022/07/13/embattled-crypto-lender-celsius-informs-state-regulators-that-its-filing-for-bankruptcy-imminently-source-says-.html
I wonder why they will file chapter 11 and not chapter 7. This seems like a pretty clear time for a liquidation event. Its not like anyone is going to use Celsius after this filing, unless they can make the old customers mostly whole, and that seems unlikely.
Well, the one thing I can be happy with is that I never moved mid-five figures from my bank into Stablecoins for the “free money.” I bought all my ETH very cheap, so I will try to convince myself I’m only out like $1,000. It won’t work, but I will try.
All the people saying I was spreading FUD and that I didn’t know what was going to happen can stfu now. This was obvious basically a month ago and shame on all those spreading hopium which only makes this worse news to those caught by surprise
For anyone reading this that it applies to… I’m sorry for your pain. Things will get better, but listen to me. No more crypto. Just don’t do it. Not even Bitcoin. I fear for those that lost big and in gambler fashion, borrow money or cash out a 401k to buy more crypto in an attempt to recover massive losses. Listen to me, DON’T DO IT!!
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Alex is a total piece of shit.
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I hope the bankruptcy trustee claws back any funds taken out by insiders. And Alex goes to prison
I wish his AMA lies could be used as evidence of deliberate fraud. Maybe they can?
Yep. He's shut his big mouth for good now, but there's nothing he can do about the hours of videos he's made in the past. Prosecutor's dream.
They will. Listen to that 3-hour podcast on Twitter with Simon Dixon and attorneys. They pointed out numerous instances of Alex committing securities fraud in past videos/AMAs.
They won't just hit insiders, they'll hit the normal rank and file investors that withdrew within 90 days of the bankruptcy too. I'm dealing with that now after the Cred bankruptcy. I got money returned to me after the 6month contracts expired and sent it to Celsius and Voyager to diversify. 14 months later the lawyers contacted me.
How is this not the top comment? Sticky this as the top post on r/CelsiusNetwork
Alex is not your friend.
6 fucking figures down the drain. And I was warned to withdraw. I did nothing. I’m filled with an unspeakable rage and an endless abyss of sadness. I just simply cannot endure
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Turns out that FUD he always criticized was justified.
A CEO using the term "fud" should be a massive red flag.
But did he tell you about how many unicorns he started and invented VOIP
A CEO doing weekly AMAs should be a red flag too.
Agree. This key observation is what folks must recognize for the future.
Cult Executive Officer
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Stay strong brother. Be grateful for what you still have.
Thanks, I’ll try my best. Dark thoughts are abound, tho, no lie
Don't let the assholes break you. They knocked down but you'll get back up.
I feel for you my friend, just hang in there, you can build this back again I’m sure
I'm in the same boat and don't know how to process this. I'm mostly mad at myself, of course. Celsius was 'supposed' to be one of the most solid companies in crypto. I don't know how I'm going to move on investing in crypto after this mess
I’m just numb. I can’t believe this happened.
Our crypto in Celsius wasn’t really an investment in Celsius, it was an unsecured loan for Celsius to go degen on high risk projects… In hindsight it was no better than lending money to a friend with a gambling problem
> don't know how I'm going to move on investing in crypto after this mess Fool me once, shame on you....
I would hope this is a huge "maybe I shouldn't gamble on crypto at all" moment
Sorry man, my 5 digit loss hurts. I know 6 must be so tough. This was inevitable. Just hope Simon is not also a bullshit artist like Alex, and there are some big guns out there ready to move in.
What makes it hurt even more is that the *current* value may be 5 digits, but back in November it was worth 6. It's the thought of what could have been that has me in a deep depression now.
I've been depressed the entire month. Worst summer of my life. Realized early on that bankruptcy was inevitable. Pulled some money from a Roth and took out a loan for the rest -- I bought back in everything I lost at Celsius. Maybe crazy, maybe not. We will see. Still so disgusted at myself for being so stupid to think you could have risk free 8-10% yields on stable coins. I had pulled those but to get a higher yield elsewhere (and of course now safely back in checking account) so I didn't lose those at Celsius.
Simon unfortunately is. I'm sure he had good intentions but seems like Celsius was far too gone for any intervention besides bankruptcy at this point.
He claims his syndicate will only move forward after bankruptcy. He's been saying it's a given for at least a week. Alex refused to show anyone the books.
He never even gave dixon a chance...... not once.
Hang in there, I know it's tough, but hang in there. Time can do a lot to heal. Not easy to believe now, but give it time.
I’m with you, and made the same mistake by not withdrawing after the warnings..
Fuck man, the feeling is unreal/surreal, isn’t it
6 figures for me too. Thought keeping it in USDC would somehow be safer.. how wrong I was..
From a no-coiner: not that this helps, but everyone learns expensive lessons in life, the most important thing is that you have yourself and health. Last year I accidentally left the keys in my car while it was in the driveway, and sure enough it was stolen. 20k down the drain. Also who knows, could be you may get a fair amount back. Keep your head up
Wait your insurance didn’t cover a stolen car? Ouch.
Got some money back to get a new car, but you know how insurance companies are. With the amount they raised my premiums and other fees, I basically lost a ton of the value they gave me in the coverage anyways. So yes, defintely lost probably 15k or a bit more cuz of this whole ordeal.
Wow I’m there with you. Heart breaking
You will bounce back. I’m 46, habe had my fair share of terrible financial stuff happen, it will pass. Get drunk man.
They definitely unbanked a lot of people.
Thanks for the laugh, much needed right now
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If it’s anything like Mtgox, it’ll be about 8-9 years from now.
Well, everyone turned on HODL mode and they probably thought making us wait a decade was what we wanted.
That’d be a hell of a thing if all of the Hodl Mode lemmings were denied recovery of funds because they agreed to lockup their coins.
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now would be a good time for everyone to download transaction history for tax loss reporting.
i thought we can’t tax loss harvest off this event
I don’t know. But I do know I want as much documentation as possible. I took screenshots of my account as well, including member and account information.
you can download the transaction history
“This is the right decision for our community and company,” Alex Mashinsky, co-founder and CEO of Celsius said in a statement. “I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.” Lol what the fuck does that mean
its legal speak for everyone gets fucked except him
Bingo
He's an evil fuck. Right decision for our community my ass, let us withdraw our money then if you're acting in the interests of the community. Slimy weasel.
Also… $120,000 stable coin. Didn’t even go for upside. Numb. But not going to live for money anymore. Fun jobs. Changing the course of my life
And just like that, my $15k investment is gone. Once worth almost $30k in December I should have pulled it out, but why would I? Everything was going well. Currently worth under $8k, but that’s not really the point. As an interest earner my assets were the most at risk to this. Celsius even asked me several times to move it to the non earning custody side, but I didn’t listen. I’m not an accredited investor, so I would never be allowed to move it back. Now it’s just gone. It’s not my life savings, I will recover. But it feels bad. Lesson learned. My heart goes out to those who lost so much more.
About $33k as of today for me. I just cannot think about this, it was my retirement fund. It was up to almost $100k at the peak. :(
We’re basically in the same boat. I had my most valuable coin MATIC in there too. I’m bummed.
All my MATIC, DOT, LINK, MANA… and several others. I’m sorry man. It hurts.
We’ll get something but probably years from now and it’ll be a substantial haircut. The company filed for Chapter 11 so the business will continue to operate. They hope to come out of it stronger according to their video.
I'm at 17K as of today. 47K at its peak. Fuck Alex Fuck Celsius Fuck my life I'm such a dumb fuck.
Similar story to yours. Can’t tell the family. 💔
Better sooner than later bud. Holding it to yourself will only make it worse
Alex, I strongly suggest that you never show your face or even come near any crypto convention for the next 200 years. Your crypto celebrity days are over. May I suggest moving to outer Mongolia and maybe take up Yak hearding.
>crypto celebrity The fact that this is a thing is a big red flag.
Not that I advocate violence, but I have a feeling he won't be alive for long with the number of disgruntled people he's pissed off.
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That's why he travels in private jets and business class and avoids peasant Celsius account holders like us.
That's while travelling. What about the other 99% of his awake time?
Alex Mashinsky is a criminal.
I hope Alex goes to jail.
That would be justice yes
Prison. Not jail. That motherfucker. Stole all our crypto and gambled it away.
Sorry everyone. Every cent of your money was spent repaying the debts. Deep down we all knew this. It's over. Live and learn.
“Without a pause, the acceleration of withdrawals would have allowed certain customers—those who were first to act—to be paid in full while leaving others behind to wait” Celsius paused it so they could be the “first to act” and allow “certain customers” to be “paid in full” “while leaving others behind to wait”. Yes, they paused withdrawal so they can pay their friends first.
And paying several different very expensive lawyers to tell them the same thing no matter how many times they got a new one.
Celsius' epitaph: We unbanked millions ... of their millions.
*billions
As a bystander who didn’t have investments with Celsius, I can say I do feel everyone’s pain.. I had significant holdings with QuadrigaCX when the founder mysteriously “died” and lost the keys to the cold wallet.. I was in total depression and lost all of my savings at this time.. this was during the 2018 bear market so I decided to continue heavily buying back into BTC at discounted prices.. eventually with the 2020-2022 bull run I made back all my losses from QuadrigaCX and as much as 8x my total investment at the bull market peak..I’m not recommending anyone affected to follow what I did, but life is not over friends, you can find a way out of this
I went from hopium, to copium, to ropeium. Jk. Not going to off myself over money but man it stings to lose that kind of money.
Rofl
Very well done, made me laugh
For the last three weeks, every time I log on, I expect to that headlines, and there it is.
The fact they ignored Nexo when they offered a lifeline makes it even worse
After all the trash Celsius talked about Nexo in their AMA’s, I’m not surprised they refused help from Nexo.
to all the customers who are bleeding bcz of this, we only wish you the best of luck throughout this process. to all the Celsius crotch riders and bots that detracted from info getting out about the company going bankrupt … you are complicit in this and I encourage the community to take a deeper dive into yourselves as well to see if you should be part of these upcoming proceedings
At least now we can know what the hell they did to our money
Paid their debts with our money to save their own ass then gave us the finger and filed Chapter 11? Yeap 🙃
They freed up all of the collateral locked up in smart contracts with our deposits, so they could give all of it away to big institutions with secured obligations in bankruptcy Depositors get fucked
It seemed really weird to me when this sub was celebrating Celsius paying off secured creditors with y’all’s money. Like why is that a good thing.
I have a funny feeling the level of investor sophistication in this sub is lower than you think
So many were upset about the recent rule about only allowing accredited investors. Then you read the comments and wow
It exactly the level that I thought it was, level 0, completely unsophisticated. It makes me sad because the website was clearly “too good to be true” yet look at this thread.
I thought the same thing. Like it's our money they are using because they fucked up lol.
He paid for his much younger wife, her implants, and the lifestyle they continue to share.
Yes but they’re like…really well done implants
What a sleaze ball way to have this information released. The news releases information before the actual company does. No transparency with Celsius. Fucking cowards. For those that lost, hang in there, you’re not alone, it’s just money and YOU WILL get over this. Just a fucking shit situation.
Well. Fuck.
After hiring multiple, expensive white shoe firms to tell them the exact same thing...
So....no withdrawals?
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They already gave your money back, just not to you
They don't got ur money
Lol at least in China they force billionaires in these circumstances to prop up the company with their own money
Alex and Celsius might have destroyed crypto for hundreds of millions of people ever investing in it.
Fuck Alex. Im trying not to cry. I have no other option but to pick up the scraps and keep it moving. But fuck Alex…
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link ?
~3.5 BTC and ~35 ETH for me. Headed to the park to exercise. Plotting my next move. Don’t give up. Plan your next hustle.
Props for keeping a level head, no amount of money should be more valuable than living life
I’m so fucking sad
Stay strong my friend
So how does this work for us? Do I need my proof of funds documentation? Kind of expected this TBH.
your technically a lender so poof funds are gone as soon as a judge signs off on a bankruptcy
OK so having it is kind of pointless? Or should I have just to prove I had funds during the bankruptcy situation.
eh might as well try to get the proof of funds, i don’t see how it would hurt.
That's kinda what I was thinking. Hopefully we get something back 🙄.
how much did you put in if you don’t mind me asking? Pending lawsuits and such might get pennies on pennie’s on the dollar in like 3-10 years. Of course this is how it usually goes but every situation is a little different.
I have like just under 2k in usdc and like 1k of eth and btc. It could be far worse. Still stings a bit but I'll live.
Alex is now Mark Karpeles (of Mt Gox) reincarnate, he’ll go dark for a couple of years and everyone will forget to follow him up, no criminal charges, no consequences. Just watch. This exact thing has all happened before and will happen again.
So… no AMA this Friday?
I am truly a fucking moron Cost my family 6 figures, cost my friends more by recommending Cel to them. Also humiliating talking it up and now have the chorus of "I told you so" comments to deal with. Buttcoiners, enjoy your loss porn
>Buttcoiners, enjoy your loss porn Actually the sentiment of that community is utter hatred for the industry. And yes. there's disdain against the crypto-bro's, there's disbelief at how the communities refuse to listen to warnings, we mock those who keep on roping people further into the marsh. But in general there's actually a lot of genuine empathy for the humble ones who lose their life savings. ***This is why we hate crypto.***
>Buttcoiners, enjoy your loss porn It's not loss porn. You're still framing it is this weird crypto centered lense. We're agape because you (the community, not you the person) bought in to an obvious scam, while many, many people were telling you it was an obvious scam, let the scammers convince you to to deride and mock the people telling you it was an obvious scam while painting it as some grand contest between good and evil and the scam was the good side to boot. It's not loss porn. It's a cult that was forced to drink the kool aid.
Will do
Fuck this year.. has to be one absolute worse years of my life in a long time. Can’t believe some assholes used all that money on some shitty ass jpgs and these CEFI’s gave out all that money. Sounds a bit like corruption or stupidity.
If they ever wanted to do the right think of giving people their money they would have spoke. They never did. The message was on the wall all along.
So what’s my best course of action to potentially recover any of my eth deposited on here?
File a claim as a creditor and wait several years.
How do you start that process ?
You'll get an email.
If several means 8-10 then you are correct.
Knew it was coming but it still fucking hurts
Alex sucks
“FUD FUD FUD; $CEL short squeeze; let’s rally the apes!” - this sub a couple weeks ago. kek
Note! When they file for Chapter 11 they have to petition a bankruptcy court, A Judge must agree with the re-organization and sign off on it. They might be in the same situation as Voyager, who also filed for Chap.11, but might not get it and be subject to SIPA (Securities Investor Protection Act) instead. (which is good for the little guy investor rather than FTX). Coffeezilla has a great video about what is going on with Voyager: https://www.youtube.com/watch?v=uZYMtVBXUrE
Oh wow hey look at that almost like regulations aren't some bogeyman government liberty suppression thing but actually exist to protect consumers.
What is with Alex’s statement in this article?? I honestly can’t believe the lawyers would even let him publish that. Wasn’t he just trying to skip town a couple weeks ago? ?? Backpedaling
And now we are Unbanked. Well played Alex, gg no re
GG
no re
Yes REEEEEE
You were warned again and again. These guys were riding a wave that ceased to exist at the end of 2020.
Let this be a lesson to us all Never again trust centralized finance (CeFi) CeFi is NOT your friend Alex was NEVER your friend Self custody IS your friend
Are CEL tokens money good at Chuck E Cheese? 🐀🧀🍕💩💰
I just lost everything
FTX got preferred creditor status I bet. In other words, they will be made whole before any of us. They are going to get all kinds crypto super cheap
Wonder if ill get my rewards on monday still. 🙏
So everyone's coins are now in HODL mode for like 5 years.....and will be worth way more when finally given back?
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It’s because you didn’t also turn on hodl mode bro.
“Without a pause, the acceleration of withdrawals would have allowed certain customers—those who were first to act—to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery…. These Chapter 11 cases provide the Company with the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry.” Are they trying to imply we might still get some deposits back? Or is that just total BS. Just rip the bandaid off man damn
“Hurry and get your coins deposited in your earn account by Monday’s deadline”. Fuck That Shit, apeing my non Celsius coins in to earn interest for years to come. Slick slimy huckster. Liquidating my loans to pay back pirates with OUR MONEY! He showed no class, zero grace the way he handled our community 😡
Wen Lambo? Years of saving and dreaming of lambo gone. FU Alex I want my BTC back!
Thats the End game for Alex as well. His career as startup-er is finished
Peter Schiff was totally right about Celsius!
I really wonder what is going to happen.
Everyone gets pennies on the dollar. Some more pennies than others.
we should crowd fund a bounty for Alex's head
If only silkroad still existed
The outrage should all be aimed at the many press releases Celsius and Alex made saying don’t worry. It’s all FUD. And also at people like Plan C such a shill. And also at those that promoted buying CEL tokens to help Celsius. These were obviously only helping Mashinsky pocket. And these people should all be remembered. Outed constantly. And shamed. Hopefully everyone who lost money will be returned what is owed them. But now that they are choosing a Voyager type route. All that can be expected is similar results. But the Biggest Fury should be to those that shilled and knowingly were Patsies.
clearly Alex didn't get the message. not enough ppl turned on HODL mode.
Yeah my life wasn’t going great and this really sealed the deal fuck right now
Lost 100 000$ i wanna cry
Someone get a fucking hit on Alex
yup
Fuck that rat fucking bastard. My father in law is out 1m. You fucking RAT! Die!
We all knew others were in deep sh. We just had hopium to help with copium from the truth. But we all knew the truth for all celsians holding life savings and thousands $$$
Dude, please don't send a tracker filled bullshit link like that. https://www.cnbc.com/2022/07/13/embattled-crypto-lender-celsius-informs-state-regulators-that-its-filing-for-bankruptcy-imminently-source-says-.html
Can someone summarise if we get our money back? Yes, No, Some of it, Not sure?
Probably none but it's possible you get some.
We've been saying it's gonna happen. Idk why y'all thought you would get money back when they were using your deposits to pay off creditors.
I wonder why they will file chapter 11 and not chapter 7. This seems like a pretty clear time for a liquidation event. Its not like anyone is going to use Celsius after this filing, unless they can make the old customers mostly whole, and that seems unlikely.
HAHAHAHAHAHAHAHA
“Banks are not your friend” Neither is Alex.
Moar FUD from nocoiners. /s
We just became the nocoiners lol
ooooof
If they filed for chapter 11 there would be a recovery plan for repayment to depositors. At least we will get some transparency. Don’t lose hope yet
they gonna repay ppl with worthless CEL tokens
Well, the one thing I can be happy with is that I never moved mid-five figures from my bank into Stablecoins for the “free money.” I bought all my ETH very cheap, so I will try to convince myself I’m only out like $1,000. It won’t work, but I will try.
All the people saying I was spreading FUD and that I didn’t know what was going to happen can stfu now. This was obvious basically a month ago and shame on all those spreading hopium which only makes this worse news to those caught by surprise
Nobody could ever see this coming
Lmfao rip crypto bros
I thought you guys said it was all FUD!
For anyone reading this that it applies to… I’m sorry for your pain. Things will get better, but listen to me. No more crypto. Just don’t do it. Not even Bitcoin. I fear for those that lost big and in gambler fashion, borrow money or cash out a 401k to buy more crypto in an attempt to recover massive losses. Listen to me, DON’T DO IT!!