The Celsius Defi Ponzi scheme appears to be collapsing in a bank run. (Bad for butters, but also Canada’s second largest pension fund invested millions into it last year. )

by DontMicrowaveCats

Celsius is yet another Defi ponzi scheme lending program. Put in your stablecoins, get a high return indefinitely like a perpetual money machine. They offer up to 18% returns on tokens.

Sometime around the Terra/Luna collapse a wave of liquidations begun. They’ve apparently already lost of billions of dollars, but still has more than $11 billion worth of assets in the system (according to them at least)

The CEL token is completely collapsing … more than 25% just overnight.

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Last year, a big pension fund in Canada made a major investment into Celsius in a $400mm funding round.

Shortly after, the CFO was allegedly under investigation for Fraud/Money Laundering/other financial crimes.

It’s already banned in Kentucky:

Good for Bitcoin tho.



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