Celsius portrays itself as a simple company offering “financial freedom” but risky trades and bets have led to a crisis, halving its assets to $12B in May
Financial Times : Tweets: @firstadopter , @lakshmishaks , @financialtimes , @adamlevitin , @firstadopter , and @kadhim Tweets: @firstadopter : FT: “Celsius was also the holder of large amounts of stETH issued by another company, StakeHound, which became practically worthless when StakeHound lost the keys to the underlying ether.” https://www.ft.com/... Lakshmisha K S / @lakshmishaks : “Banks have learned from past crises and are now pretty careful and sophisticated about their asset-liability mismatches. It's a skillset and I don't know to what extent the crypto lending market has learned it yet,” https://www.ft.com/... @financialtimes : Celsius portrays itself as a simple company helping everyday investors achieve ‘financial freedom’ unavailable in mainstream finance. But Its woes, however, lie in complex, risky trades typically hidden in the bowels of Wall Street https://www.ft.com/... https://twitter.com/... Adam Levitin / @adamlevitin : 🧵 on #CelsiusNetwork and bankruptcy. Buckle up. 1/ @firstadopter : FT: “Several players in the market had a policy of not extending credit to Celsius even as they borrowed from it, according to people familiar with the matter.” https://www.ft.com/... @kadhim : Behind the unravelling of Celsius lay complex, risky trades typically hidden in the bowels of Wall Street w/ @joshckoliver @ScottChipolina https://www.ft.com/...