The Man Who Destroyed BILLIONS - Alex Mashinsky

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  • เผยแพร่เมื่อ 18 ก.ค. 2022
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    Celsius, while advertising itself as a superior banking alternative, has now declared Bankruptcy. This institution was led to ruin by a man whose unchecked risk, ego, and hubris has now financially harmed hundreds of thousands of people. His name? Alex Mashinsky... and today we look at his pattern of mistakes that culminated in one of the worst financial meltdowns of modern crypto.
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ความคิดเห็น • 620

  • @UpperEchelon
    @UpperEchelon  2 ปีที่แล้ว +40

    To protect yourself online (especially from a new age of Crypto Infiltration programs) Check out Guardio! guard.io/UpperEchelonGamers

    • @Quantumironturtle
      @Quantumironturtle 2 ปีที่แล้ว +4

      Is there a variant for Firefox? I don't use chrome, so it doesn't help me.

    • @TheLeviathan1293
      @TheLeviathan1293 2 ปีที่แล้ว +4

      @@Th3Professor This.

    • @AmazingKevinWClark
      @AmazingKevinWClark 2 ปีที่แล้ว +8

      Have you noticed scammers in the comments of some videos promoting cryptocurrency?? They always do the same idiotic thing where the first comment will casually talk about it or a desire to invest then a few comments later supposedly someone else name drops an "expert". Afterwards people will agree that the expert is good and list how much they were able to make in starting up with said expert. It's really gross. I've seen this done a lot more than a few times.

    • @TheLeviathan1293
      @TheLeviathan1293 2 ปีที่แล้ว +5

      Dude, this one is also shady. There is a "sale ends in 1 hour " at the top of the screen with a timer. It goes down, and it keeps going if you refresh the page, even if you close the browser. Until here all is fine. But when it reaches 0, if you refresh the page then, an only then, the timer resets. It's the typical fake timer that doesn't matter at all.
      According to reddit it also does a lot of fearmongering once you install.

    • @Sparkbomber
      @Sparkbomber 2 ปีที่แล้ว +3

      I am a bit shocked you accept this shady extension as a sponsor. You can't find their rates or actual info on their site. It reeks of a scam.

  • @eternaldarkness3139
    @eternaldarkness3139 2 ปีที่แล้ว +195

    When someone tells you they want to make YOU rich...
    They're are trying to steal your money

  • @magcitrate
    @magcitrate 2 ปีที่แล้ว +530

    Thank you 🙏
    I started getting out of Celsius after watching your “Cease & Desist” vid a month or so back, slowly selling and paying off several big loans.
    I got out most of my chit. 99%. The last batch, I was going to get out the day Celsius stopped all withdrawals.
    I now shudder to think what could’ve happened if I was oblivious to what was going on.
    Thanks again brother. You saved me and my family.

    • @papajohn9945
      @papajohn9945 2 ปีที่แล้ว +41

      Glad you got out before the crash

    • @shitzUnotz
      @shitzUnotz 2 ปีที่แล้ว +40

      It ain’t over yet. Celsius is asking the courts if they can claw back what you withdrew up to 90 days prior to bankruptcy.

    • @magcitrate
      @magcitrate 2 ปีที่แล้ว +80

      @@shitzUnotz What? You want my money back? Let me see…
      I think my dog ate the private keys.

    • @FRGBlackBurn
      @FRGBlackBurn 2 ปีที่แล้ว +43

      @@magcitrate just say you lost your money in a boat accident

    • @Aereto
      @Aereto 2 ปีที่แล้ว +30

      @@shitzUnotz
      Essentially suing the equivalent of clients in a Bank Run... Yeah, that will be difficult case to fight.

  • @dcogs8856
    @dcogs8856 2 ปีที่แล้ว +259

    Between this and Luna there really is an issue with blind ambition.

    • @newenergyexperience434
      @newenergyexperience434 2 ปีที่แล้ว +1

      XD fr!

    • @lk5388
      @lk5388 2 ปีที่แล้ว +16

      Oh there is a lot more of them, they haven't all been exposed... Yet

    • @papajohn9945
      @papajohn9945 2 ปีที่แล้ว +5

      Fortune favors the brave!

    • @-Ryu
      @-Ryu 2 ปีที่แล้ว

      Indeed.

    • @SarahMaywalt
      @SarahMaywalt 2 ปีที่แล้ว +7

      This is literally the biggest problem human civilization has had since the beginning.

  • @Reddotzebra
    @Reddotzebra 2 ปีที่แล้ว +426

    Not to say banks are the greatest organizations ever at always being truthful and having your best interests at heart, however when they want to screw you they still have to play by the rules, and they have to have some ridiculously comprehensive insurance.
    Whenever ANYONE says "I'm going to be like a bank, but not a bank", they are trying to screw people over in some way.

    • @ResidentWeevil2077
      @ResidentWeevil2077 2 ปีที่แล้ว

      They essentially want to scam people without being held accountable for it.

    • @worldofdoom995
      @worldofdoom995 2 ปีที่แล้ว +53

      not to mention the government will still insure your money. With crypto your just fucked.

    • @ResidentWeevil2077
      @ResidentWeevil2077 2 ปีที่แล้ว +23

      @@worldofdoom995 one of the reasons why I have never trusted crypto.

    • @ryankelly369
      @ryankelly369 2 ปีที่แล้ว +16

      Meh. There are more and more examples every year of bankers being outright CROOKS. Wells Fargo, just as an example, broke the law repeatedly by fraudulently opening accounts for customers who didn't request them, and there's no indication that behavior has ever really stopped.

    • @AAhmou
      @AAhmou 2 ปีที่แล้ว +13

      @@ryankelly369 And there is the much more common problem of not letting people to close their accounts and still charging people for them.

  • @ewanfraser
    @ewanfraser 2 ปีที่แล้ว +87

    Banks must love this. They are laughing all the way….to themselves

    • @markbaker4425
      @markbaker4425 2 ปีที่แล้ว

      At least with a bank everyone knows the score and if they shit the bed your insured. Ive rather go to the greasy snakes whove got insurance on my money rather than the greasy snakes whore telling me were all gonna make it

    • @QrazyQuarian
      @QrazyQuarian 2 ปีที่แล้ว +22

      "You couldn't live with your own failure, and where did that lead you? Back to me." ~ Bank of America

    • @ronaldcordova9282
      @ronaldcordova9282 2 ปีที่แล้ว +1

      And laughing because crypto is being destroyed.

    • @nilfux
      @nilfux ปีที่แล้ว

      @Julian Everyone is conflating crypto with Bitcoin. Bitcoin is fine. It's doing what it's always done. The 20,000 shitcoins are the problem.

  • @genelearnsenglish4242
    @genelearnsenglish4242 2 ปีที่แล้ว +36

    The fact you called it out and then some time later everything went in flames like you predicted...
    *French chef kiss*

    • @QrazyQuarian
      @QrazyQuarian 2 ปีที่แล้ว +6

      I feel like the C&D was a major red flag. It's almost as if Upper Echelon called it out and he took it personally, thus tipping the scale and opening this massive floodgate that basically destroyed their crooked company. This is what journalism is supposed to be. I blame Upper Echelon Gamers for the crash--and by "blame", I really mean "congratulate". This was going to happen eventually, but he helped facilitate this spectacular fatal freefall and I salute him for doing God's work.

  • @custinpham2959
    @custinpham2959 2 ปีที่แล้ว +63

    I watched some of his interviews. This guy was treated like a celebrity on every media outlet.

    • @BrennanCh06
      @BrennanCh06 2 ปีที่แล้ว +8

      Same tribe

    • @boobah5643
      @boobah5643 2 ปีที่แล้ว +3

      @@BrennanCh06 And he had plenty of personal money to share with people who pleased him.

    • @Janshevik
      @Janshevik 2 ปีที่แล้ว +3

      Just like Zelensky is.

    • @marcellpuzsar2719
      @marcellpuzsar2719 2 ปีที่แล้ว

      Criminal PIG ruining many lives - how is Alex still alive and well after this?

    • @johnnycatR58
      @johnnycatR58 2 ปีที่แล้ว

      Same long nose tribe

  • @dnice712
    @dnice712 2 ปีที่แล้ว +379

    its almost as if the entire crypto industry is just one huge scam.

    • @bitcoinisfreedommoney.fckt2663
      @bitcoinisfreedommoney.fckt2663 2 ปีที่แล้ว +68

      It is. Every sh1tcoin is just an exit liquidity scam on retail

    • @Sniperbear13
      @Sniperbear13 2 ปีที่แล้ว +18

      its more of an investment, but its one that is plagued by a lack of regulation and oversight. people have made money off of Crypto, but a lot of it comes from pump and dumps.

    • @clxwncrxwn
      @clxwncrxwn 2 ปีที่แล้ว +31

      Invest in solid metals like silver and gold, gold will always retain and go up in value, cause it’s a very limited resource and can’t form naturally on the Earth, and highly valued in electronics, can always be recycled no what form it currently has.

    • @emanwe01
      @emanwe01 2 ปีที่แล้ว +23

      Amazing how much this totally-not-a-scam looks and acts just like a scam!

    • @volvo09
      @volvo09 2 ปีที่แล้ว

      @@bitcoinisfreedommoney.fckt2663 Yup. Money grab on top of money grab. Thousands of coins have come and gone since bitcoin was created and people Still havent learned.
      "this new coin is hot" really? Thats why you bought it?

  • @reeeeeee9230
    @reeeeeee9230 2 ปีที่แล้ว +7

    I'm seeing re occurring themes in these degenerates.
    1. Ego issues
    2. Manipulative/lying
    3. Greedy as hell
    4. Keeps employe count low
    5. Under pays and overworks employees

  • @TheInternetHelpdeskPlays
    @TheInternetHelpdeskPlays 2 ปีที่แล้ว +39

    The worst bit I'm scared of is its crypto!
    And by that I mean that he will be back in a few months with a new coin saying he learnt from his mistakes and this one will be even better.
    And no one will have learnt anything.

    • @dingowingo7977
      @dingowingo7977 2 ปีที่แล้ว +3

      we just need to pull out before it all collapses before our feet

    • @pieter-bashoogsteen2283
      @pieter-bashoogsteen2283 2 ปีที่แล้ว +4

      Nobody should have anything to do with crypto anymore.

  • @neanda
    @neanda 2 ปีที่แล้ว +108

    I love your research, the topics you choose, and your analysis. You're one of the good sources of information that I trust. Thank you

  • @munchypignati8701
    @munchypignati8701 2 ปีที่แล้ว +25

    Funny to think I used to come here for the most honest gaming news/reviews/info and now I’m here to keep up with the latest tech/industry/gaming news. Keep up the amazing work!

  • @chukuemekaoje1015
    @chukuemekaoje1015 2 ปีที่แล้ว +61

    Sadly there are still going to be folks who put money into Celsius who will still yell "FUD" when they're confronted with criticism on the next crypto project they invest in.
    It's the nature of crypto, in which a project lives or dies on hype (instead of profits from actual goods and services).

    • @mortalhordewarrior9285
      @mortalhordewarrior9285 2 ปีที่แล้ว +6

      Thing is these fools are giving crypto a bad name. There are plenty of autonomous exchanges and lending platforms that have existed for years without issue. The problem, is that these algorithmic banks have found you can only get .50% to lend and pay 3% to borrow. So the fools go for some narcissist claiming he will make them rich if you just hand over your money.. completely goes against the spirit of crypto

    • @SuperGirl-tf2wn
      @SuperGirl-tf2wn 2 ปีที่แล้ว

      People still putting money into the revised Luna or whatever it is, after the founder already fucked everyone around the first time lmao "this time will be better."

    • @meyes1098
      @meyes1098 2 ปีที่แล้ว +19

      @@mortalhordewarrior9285 What are you talking about? This is 100% in line with the crypto mentality of "having no rules" and being "decentralized".
      Crypto as a whole is a scam. All of it.
      Crypto can only truly succeed if it's HIGHLY regulated and if it has a certain degree of centralization. But at that point, it's just another currencty, so all the efforts are meaningless.

    • @QrazyQuarian
      @QrazyQuarian 2 ปีที่แล้ว +9

      It's like they're inserting a stick into their tire spokes while going 30 MPH on their bikes, and then blaming physics for the result.

    • @dingowingo7977
      @dingowingo7977 2 ปีที่แล้ว

      @@mortalhordewarrior9285 well didn't Celsuis exist for years before well you know today without any problems or issues? same with some of the other cryptos until they pulled the rug? I think the people that give crypto a bad name are the people that are completely unwilling to look at this whole mess with a clear mind, all they see are $$$.
      Back in the day people would put a canary in a mine to let them know about dangerous gas. I feel like in the crypto world everyone is waaay to afraid of the gases (scams) that they arent even willing to put an early warning system in place to save their own lifes.
      See no evil, Speak no evil, Hear no evil (that why i always thought the monkey thing was fucking hilarious)

  • @fluidwolf
    @fluidwolf 2 ปีที่แล้ว +9

    All the downsides of a bank with none of the security that comes with it.

  • @nongmar8783
    @nongmar8783 2 ปีที่แล้ว +23

    The Next bull run there will be another scammer like him and bunch of naive and greedy people once again throw money at him and lose again. That's my prediction.

    • @GeorgHaeder
      @GeorgHaeder 2 ปีที่แล้ว +1

      The next new crypto fad "Fahrenheit" by Alex Mischinsky. /sarcasm

  • @ahmado78
    @ahmado78 2 ปีที่แล้ว +17

    Just a few months ago Alex was considered a saint and a genius... Pretty sure Richard Heart (who was falsely called a scammer by Alex and his friends) was the only one who spoke out against him... Crazy world we live in

    • @LiveFreeOrDie2A
      @LiveFreeOrDie2A 2 ปีที่แล้ว +8

      Well sometimes it takes a sociopathic scammer to know a sociopathic scammer when he sees one?

    • @zacharywiebe5112
      @zacharywiebe5112 2 ปีที่แล้ว +1

      To who, was he a saint?
      I've been pretty sceptical of the fragility of crypto since I learned about it.

  • @PerpetualAlfa
    @PerpetualAlfa 2 ปีที่แล้ว +6

    It’s despairing to see all the people who have lost money make claims like “I got told it was risk free!”
    Haven’t years of being bombarded with emails from Nigerian Princes and Lonely Rich Widows taught them anything?

  • @haruhisuzumiya6650
    @haruhisuzumiya6650 2 ปีที่แล้ว +35

    The Celsius network CEO who stole deposits

    • @Getnodrama
      @Getnodrama 2 ปีที่แล้ว

      To end up his life in jail ?
      He is not that stupid

  • @benbrewdog
    @benbrewdog 2 ปีที่แล้ว +24

    I knew Bitcoin was going to crash when I seen massive Inflation, when a Currency is only relent on another Currency and can not trade and services with that currency it will die.

    • @Demopans5990
      @Demopans5990 2 ปีที่แล้ว

      @@boyishdude1234
      The Silk Road needs to return

    • @Demopans5990
      @Demopans5990 2 ปีที่แล้ว +1

      @@boyishdude1234
      Marketplace that only operates with Bitcoin

  • @ThePhiphler
    @ThePhiphler 2 ปีที่แล้ว +5

    Fahrenheit - Get your bread from us, not from bakeries! Traditional bakeries bake bread for you, instead we at Fahrenheit take water, flour and yeast, combine it and mature it in a high temperature environment, completely without the involvement of any bakers or bakeries. Fahrenheit, unbake yourself.

  • @inplainview1
    @inplainview1 2 ปีที่แล้ว +23

    Gee. Its almost like creating "new money" led to exactly all the same problems that the "old money" had before heavy regulatory practices were put in place.
    Crypto did nothing new, and everything it was sold as has has been shown to be complete BS.

    • @chrisbaker8533
      @chrisbaker8533 2 ปีที่แล้ว +1

      But, but, muh decentralization, and 'to the moon'...
      Crypto is one of the greatest examples of 'greater fool theory' ever put on display.
      When i first read about it many years ago, my initial reaction was 'pogs', followed by some WTF faces at the stupid being said about what it was going to do.
      Today, my opinion hasn't changed.
      If anything i'm laughing harder at the abject stupidity of what is being said about crypto.
      Yeah, you're really going to be able to take that fortnite character into halo.
      As the old saying goes, "A fool and his money are soon parted".

  • @publicguy1664
    @publicguy1664 2 ปีที่แล้ว +10

    Credit Unions are the real alternative to banks.

  • @fiftysix9331
    @fiftysix9331 2 ปีที่แล้ว +15

    I attacked you when you first warned us. I retreat. My retirement future has been obliterated by Celsius. You were right and I and many like me have been smashed by Mashinsky. He may not serve jail time but those he's destroyed live around the world and this earth will become his prison

    • @NickanM
      @NickanM ปีที่แล้ว +3

      I'm sorry that it happened to you. 😔
      Sending a cyber hug.

    • @wizzyno1566
      @wizzyno1566 ปีที่แล้ว +3

      @@NickanM why are you sorry? He was warned and ignored the warnings. From that moment on its his own fault.

    • @wizzyno1566
      @wizzyno1566 ปีที่แล้ว +3

      LOL. Unless he goes to prison he'll live out his life in luxury whilst you are ruined.
      Hint: the earth is ALL OF OUR prison. The question is how nice is your cell...

    • @NickanM
      @NickanM ปีที่แล้ว +3

      @@wizzyno1566
      Because it's easy to get fooled / taken advantage of as an ordinary Joe. Not everyone has the knowledge to not get swindled. Especially if friends or family pushes the thing, telling you about the fantastic "bank" they have found blablabla.

  • @Itstwistedroots
    @Itstwistedroots 2 ปีที่แล้ว +11

    I always love how you start your videos with “alright” that presents a tone of annoyed exhaustion. 😂

  • @wardrich
    @wardrich 2 ปีที่แล้ว +4

    Nevr understood the logic behind "HODL". Who the fuck wants to buy currency whos sole purpose is to be hoarded instead of traded? Makes no sense to me... where's the value in a currency that nobody wants to trade for goods?

  • @cypher4752
    @cypher4752 2 ปีที่แล้ว +30

    The problem with Celsius is that they're trying to be a central bank on an ecosystem which literally was designed such that everyone is their own bank. Celcius is what happens when someone tries to strap a horse onto a car instead of a buggy

    • @jacobb5484
      @jacobb5484 2 ปีที่แล้ว +3

      it would make sense to have a crypto bank that focuses on the secondary services most provide rather than the primary ones. stuff like investment, loans, credit, fraud protection, etc.

    • @chrisbaker8533
      @chrisbaker8533 2 ปีที่แล้ว

      No, my good person, you are no more a bank with crypto than you are with the change in your pocket.
      If anything, you're less of one with crypto, due to the limitations of use, than the change in your pocket.
      But hey, keep believing the crypto b.s., maybe one day it'll come true.
      Right after rainbow farting unicorns come into existence.

    • @vicariouswitness
      @vicariouswitness 2 ปีที่แล้ว

      @@jacobb5484 ….. the very essence of “decentralized ledger technology” already provides you the ability to do everything you said … simply by “notching” (marking your place) onto your very own blockchain. You could do it yourself and lend , borrow and invest through “said”blockchain.. the only issue is human error (ego) in a centralized blockchain… hence the opposite…. Decentralized blockchain (ledger technology, it covers all the bases of finance… excluding anyones attempt to make it illegal. It is completely enough to do the best job we need to maintain our financial system (the new financial system). Just don’t support centralized …. Crypto isn’t created equal.

    • @joshallen128
      @joshallen128 2 ปีที่แล้ว

      not only that but what insurance company or corporation would insure celsius?

    • @vicariouswitness
      @vicariouswitness 2 ปีที่แล้ว

      @@joshallen128 the one that is cheating with them

  • @PresidentEvil
    @PresidentEvil 2 ปีที่แล้ว +66

    i knew this was a ponzi the moment they were offering 10-20% APY 😂

    • @danepatterson8107
      @danepatterson8107 2 ปีที่แล้ว +8

      I made 16% just once on any investment, and that was because I invested it in 2005 and I took it out in 2006 at the accidental periphery of the housing crash.

    • @KarlBarbosa
      @KarlBarbosa 2 ปีที่แล้ว +2

      To be precise, 10-20% APY as long as a third of that was in CEL tokens ;)

    • @mysteryshopper3056
      @mysteryshopper3056 2 ปีที่แล้ว +1

      They never offered 10-20% apy. More likely 3-8%
      Are you paid to comment here?
      This whole production seems fishy.

    • @ronaldcordova9282
      @ronaldcordova9282 2 ปีที่แล้ว +2

      I'm not aware of anyone that made 20% on bitcoin or ether. Maybe some pump and dump shit coin.

    • @mguendumiguel9523
      @mguendumiguel9523 2 ปีที่แล้ว

      I AGREE .. BUT AS "FUDDERS" NO ONE LISTEN TO US ... SO RESPECT THE "FUDDERS" THEY COULD SAVE YOUR MONEY

  • @VentrixNZ
    @VentrixNZ 2 ปีที่แล้ว +2

    Loving the content lately. You've really taken it to the next level, it's easy to see you have put a lot of effort in to these. Keep up the great work!

  • @thefoolishhiker3103
    @thefoolishhiker3103 2 ปีที่แล้ว +50

    This story has been fascinating to me because I so distinctly remember that debate between Mashinsky and Schiff. I have alway found Schiff to be a bit annoying but that debate in particular was fascinating because you had two annoying personalities beating their chests over their preferred inflation hedge. You did a great job explaining this.

    • @MaxPowersCFB
      @MaxPowersCFB 2 ปีที่แล้ว

      Considering Peter Schiff completely called him out and was completely right back when no one would have thought he was and exposed him that celsius was taking massive risks to get the returns they were promising, I would say Peter was far from annoying but that is the problem today. It's only fashionable to not be annoying when the majority finally feels the pain but when the party is going and the punch bowl is spiked then you are annoying. Stop trying to ruin the party Bro!!!! Society can be so laughable. You didn't even mention that Peter was 100% correct in that debate. SMH!

    • @bigmoney1250
      @bigmoney1250 2 ปีที่แล้ว +5

      Schiff compared Mashinsky to Bernie Madoff when he said Celsius can generate 15 percent return on deposits. Schiff was spot on.

  • @Daojyn
    @Daojyn 2 ปีที่แล้ว +2

    Funny how former employees always come forward after a whole company is exposed just to take the money from journalists, but it didn't seem to bother them until then.

  • @Porphyrogenitus1
    @Porphyrogenitus1 2 ปีที่แล้ว +7

    Well, Ken Lay & Jeffery Skilling were tried and found guilty.
    Lay avoided prison time by dying (his get out of jail free card).

  • @EzekielGoldbergII
    @EzekielGoldbergII 2 ปีที่แล้ว +6

    These guys should be watching their backs. If people are committing suicide over this who knows if one of them decides he's not going out alone.

  • @AretaicGames
    @AretaicGames 2 ปีที่แล้ว +2

    Sometimes 'FUD' means 'Foreknowledge of Unavoidable Devastation".

  • @shitzUnotz
    @shitzUnotz 2 ปีที่แล้ว +23

    Great video, hey I noticed Celsius has the audacity to ask for a clawback from those who chose to withdraw their assets. Do you have any thoughts on how the judge might rule on that?

  • @sirguy6678
    @sirguy6678 2 ปีที่แล้ว +2

    If you had a “goldmine” why would you tell me about it unless you needed me to move all of the dirt? Greed is a fantastic motivator for simple people-

  • @LiveFreeOrDie2A
    @LiveFreeOrDie2A 2 ปีที่แล้ว +1

    I couldn’t help but notice the multiple shifty downward glances during:
    @12:54 “..and we provide immediate access to everybody anyone who needs access to it- to the liquidity and that includes institutions, includes people that want to get their coins back, includes people who are taking loans..”

  • @Barry_Allen-o9g
    @Barry_Allen-o9g ปีที่แล้ว +2

    I am a Polish National living in the US and I think that I can speak for us all, in one resounding voice by saying, we do not claim this man!!!

  • @artpekarekiii4320
    @artpekarekiii4320 2 ปีที่แล้ว +3

    "At Celsius we don't lock you up." "We always work in your best interest." ~ Alex "The Machine" Mashinsky

  • @andykillsu
    @andykillsu 2 ปีที่แล้ว +10

    What's funny is because if my bank goes under, I have the fucking US government backing it up to get my money back.

    • @EnsignRedshirtRicky
      @EnsignRedshirtRicky 2 ปีที่แล้ว +6

      Until the economy is so bad they all go down simultaneously and the Gov goes with them. With the intentional housing bubble the US has, the retraction in Big Tech (possible crash), and massive US over-spending, this is terrifyingly possible.

    • @bitcoinisfreedommoney.fckt2663
      @bitcoinisfreedommoney.fckt2663 2 ปีที่แล้ว +1

      Watch the Luke Groman interview on Bankless channel. The govt backed financial system you have complete faith in is more fragile than you realise.

    • @IamOutOfNames
      @IamOutOfNames 2 ปีที่แล้ว

      @@bitcoinisfreedommoney.fckt2663 Great username there, it really lends credibility to your comment.

    • @thelonercoder5816
      @thelonercoder5816 2 ปีที่แล้ว

      us gov = debt.. the gov insures your money by making future generations worse off lol.. Now we're slaves to other countries like China who we owe a trillion dollars to. Thanks american government!

  • @Ace1000ks19751982
    @Ace1000ks19751982 2 ปีที่แล้ว +4

    I don't think Alex cares, all that matters is he took your money and got wealthier. He won't go to prison, and after this all blows over he can go to Israel.

  • @HasidicKaiju
    @HasidicKaiju 2 ปีที่แล้ว +48

    Correct me if I'm wrong but, didn't he and his wife make millions? He may have failed everyone else financially, but he didn't fail himself.

    • @bradenwoods1111
      @bradenwoods1111 2 ปีที่แล้ว +8

      What's your point? The point of the video was saying how he screwed over the regular guy, not how he scrupulously made his millions lol

    • @ancogaming
      @ancogaming 2 ปีที่แล้ว +10

      Yep, I think you've got that part right. This video is about how morally wrong the dude was. Not how he ruined himself financially. It's other people's money that went down the drain and if you find that alright, let me introduce your new Super Hero.

    • @HasidicKaiju
      @HasidicKaiju 2 ปีที่แล้ว +2

      @@bradenwoods1111 UEG said he was a financial failure. But to whom? Not himself.

    • @MochaZilla
      @MochaZilla 2 ปีที่แล้ว

      @@HasidicKaiju it ain't hard to see that maSHITsky robbed his customers. Thats how he made his wealth. By fraud. Real great guy his?

    • @atomixfang
      @atomixfang 2 ปีที่แล้ว +5

      You might want to reconsider what your definition of failure is.

  • @brosch91
    @brosch91 2 ปีที่แล้ว +1

    Dude, you really deserve a lot more subscribers. You are one of the best content creators on this platform, period. There are a couple cryptotubers who were recommending Celsius, saying that if you deposit x amount of bitcoin, you could get free money just for doing so. As the old saying goes, if something sounds too good to be true, it almost always is

  • @nikpalagaming8610
    @nikpalagaming8610 2 ปีที่แล้ว +1

    Our conventional cash itself is being rendered useless progressively, especially after losing gold standard. But it is still conventional cash backed by societies & governments. I don't understand why people think unconventional cash can be risk free assets.

  • @happyday8691
    @happyday8691 2 ปีที่แล้ว +13

    This is what happens when you throw money at something and nothing backs it.

    • @QrazyQuarian
      @QrazyQuarian 2 ปีที่แล้ว +5

      That's an extreme exaggeration and you know it! My imaginary friend Bentley is backing my money along with me and I have a shot!

  • @johncampbell7433
    @johncampbell7433 2 ปีที่แล้ว +1

    all your vids are spot on and objective. Thank you for your objectivity and disclaimers. Subbed

  • @bigmaw369
    @bigmaw369 2 ปีที่แล้ว +8

    Please make a video on Safe Moon. I don't see how those guys are not in jail yet.

  • @Shadow_foxx1
    @Shadow_foxx1 ปีที่แล้ว

    So first off I want to say thank you for all your hard work on these videos and you need more subscribers !!! this is criminal that you don’t have at least 1 million subs minimum

  • @caneprints
    @caneprints 2 ปีที่แล้ว +15

    What I think is really sad is that, following many other crypto TH-camrs, I hear a lot of blame instead of compassion for people that lost money. The message seems to be that these people deserved what they got and that this bloodbath is actually a good thing for the industry.

    • @dubstepXpower
      @dubstepXpower 2 ปีที่แล้ว +4

      Yeah it's pretty messed up. The crypto world needs regulation

    • @dall1786
      @dall1786 2 ปีที่แล้ว

      @@dubstepXpower it needs to go away because it all one big scam. Regulation in any form won't change how stupid people are when they have money and they think they can get rich quick with it.

    • @desperado3236
      @desperado3236 2 ปีที่แล้ว

      If regulation even helps.
      Not saying its not needed because it is but it wont fix everything.
      I mean look at our current financial system of banks and similar institutions. Its highly regulated yet corruption and theft still happens. Its to the point that its not even news when it happens again and again.
      No, i dont claim to have the solution either. Its way out of my pay grade. I'm just pointing out the problems and hypocracy of the people who are propping this system up as this perfect, infallible thing abd its always cuz theyre heavily involved in said system so of course they would prop it up.

  • @ErikSamuel1988
    @ErikSamuel1988 ปีที่แล้ว +5

    Very hard lesson for me to learn here. Don’t ever trust someone with a thick Russian accent. Never again.

  • @mark_williamh1340
    @mark_williamh1340 2 ปีที่แล้ว +2

    I love the fact that there are banner ads for crypto under this video, nice one YT😑

  • @nightrunnerxm393
    @nightrunnerxm393 2 ปีที่แล้ว +1

    I won't even pretend that I understand crypto or could have predicted this...but I have to say, your reporting on it had more of the ring of truth to it than anything else I'd heard. Not to mention there were several people who were so adamantly optimistic about "debunking" any concerns about the crypto space that they just made themselves untrustworthy on the subject. And they're being rather conspicuously silent about it now, too, for some reason.

  • @Domo6768
    @Domo6768 ปีที่แล้ว +2

    3 months on from this video and micro strategy is 2 billion in unrealized losses and FTX just collapsed and has major fraud allegations

  • @Devil_10341
    @Devil_10341 ปีที่แล้ว

    Amazing video thanks for all this research. In your opinion, do we have a chance to get some back on this chapter 11 filing?

  • @beastmode00714
    @beastmode00714 ปีที่แล้ว +2

    $2.8 BILLION in the hole on balance sheet as of July 29.

  • @eldenringer6466
    @eldenringer6466 2 ปีที่แล้ว +3

    I wish people whose lives are ruined beyond repair were able to track down the people responsible and hold them accountable in a suitable fashion. So many problems in society would stop overnight though ofcourse it would create new ones. Be good to see the super rich and faux rich vanish or atleast go extinct naturally or under extreme prejudice.

    • @SurfbyShootin
      @SurfbyShootin 2 ปีที่แล้ว

      Cool it with the antisemitism bro!

  • @Old_Jack_Ketch
    @Old_Jack_Ketch ปีที่แล้ว

    Great video… The graphics were great, did you make those or have help from an outsource?

  • @FSBMystic
    @FSBMystic 2 ปีที่แล้ว +1

    You have become my favorit investigativ journalist by far 👍🏻
    Thank you for your hard work.

  • @ChrisGrump
    @ChrisGrump 2 ปีที่แล้ว +71

    Everytime is see crypto idiots losing their monopoly money i smile the rest of the day.

    • @buckrodgers1162
      @buckrodgers1162 2 ปีที่แล้ว +23

      You and me both. Anyone dumb enough to put money in something as volatile as this, they deserve to lose that money.

    • @mariusvanc
      @mariusvanc 2 ปีที่แล้ว +2

      It's monopoly money you buy with real money.

    • @bialzibozo6177
      @bialzibozo6177 2 ปีที่แล้ว

      This.
      As heartbreaking as people losing their livelihood is, a fair portion of these folks are morons and likely younger than typical parental age so only responsible for themselves.
      These idiots would no doubt cause immense damage to everything around them if they became extremely wealthy crypto aristocracy.
      Its unfortunate that many more lost all of their average or meagre wealth along the way as well.

    • @buckrodgers1162
      @buckrodgers1162 2 ปีที่แล้ว +2

      @@boyishdude1234,
      And who says I did that? Because whoever they are, they are lying. The only thing I put my money in, is my pocket.

    • @buckrodgers1162
      @buckrodgers1162 2 ปีที่แล้ว +8

      @@boyishdude1234,
      So basically what your saying is that you want to lose your money to some scammer. Gotcha. Well, why not just hand all your money over to some worthy cause at that point? At least it wouldn't be feeding the lowest forms of life of this planet.

  • @LegalPhantom
    @LegalPhantom 2 ปีที่แล้ว +2

    3:19 ads end

  • @metademetra
    @metademetra 9 หลายเดือนก่อน

    When it comes to serious financial decisions, people that say that fear, uncertainty, and doubt are bad are NOT your friend. That should be the one thing in your everyday life where you should be the most skeptical.

  • @JohnHaloWarrior95
    @JohnHaloWarrior95 2 ปีที่แล้ว +13

    I was waiting for this! Go UE, show em what real journalism is!

    • @QrazyQuarian
      @QrazyQuarian 2 ปีที่แล้ว +1

      UE is partially-responsible for the collapse of this company. He called them out, this dude's pride got in the way, which tipped the scales and brought about the destruction of this company after confidence in this system was rocked from certain events such as the C&D that UE received. I personally believe that this spectacular crash happened ahead of schedule specifically because of the herculean efforts brought by shining members of the journalism community, and Upper Echelon is among the top who contributed to its unprecedented demise. Mind you, I'm not blaming him; I'm congratulating him. That's what real journalism is meant to be.

    • @JohnHaloWarrior95
      @JohnHaloWarrior95 2 ปีที่แล้ว

      @@QrazyQuarian Exactly!

  • @pjp_renaissance
    @pjp_renaissance 2 ปีที่แล้ว +1

    Thing is when you have a large majority of "investors" simply buying and holding crypto its value is inflated. Unless you remain in a constant state of holding a crash is inevitable.
    For a moment I want you to imagine that a new man-made alloy is invented. It can be made by people with know-how but it hard to make. It has no practical use but is being offered as an alternative to dollars. The value it has lies solely in those who buy into it. Add the allure of the blockchain and that's what crypto is - a self-perpetuating "investment" in a relatively closed system.

  • @johnryan461
    @johnryan461 2 ปีที่แล้ว +8

    Next do one on Riley Reid. She's killed millions

  • @dookie_12
    @dookie_12 2 ปีที่แล้ว +4

    Don't put your money in something you don't understand.

    • @elinfini
      @elinfini 2 ปีที่แล้ว +1

      Or alternatively, don't put your money in something you know/feel is too good to be true.

  • @Swat_Dennis
    @Swat_Dennis 2 ปีที่แล้ว +10

    And what surprises me is how the price of crypto went up by 15% in a week

    • @VladLad
      @VladLad 2 ปีที่แล้ว

      "Buy the dip"
      Crypto price rises
      Get hacked/Go bankrupt
      Prices fall
      Suicide Hotline
      "Buy the dip"
      Repeat

  • @amphiptered.5355
    @amphiptered.5355 2 ปีที่แล้ว +1

    My mother always said that if the APY seems to good to be true then it's a scam.

  • @marcuskahn3783
    @marcuskahn3783 2 ปีที่แล้ว +1

    Mashinsky is no different from a fake wristwatch peddler selling counterfeit junk next to a hotdog stand.

  • @noahjester8471
    @noahjester8471 2 ปีที่แล้ว +2

    *SNIFF... SNIFF...*
    *I smell a class action lawsuit pending...*

  • @cyphaborg6598
    @cyphaborg6598 2 ปีที่แล้ว +2

    The illusive nature of crypto is great for you but that works both ways meaning malice is untraceable too.

    • @camraid9
      @camraid9 2 ปีที่แล้ว +1

      cash is more untraceable than any crypto

  • @gabrielv1856
    @gabrielv1856 2 ปีที่แล้ว

    Oh... that first video aged like bad wine... turned into vinager instead of fine wine...

  • @digitalmonkeyab6017
    @digitalmonkeyab6017 2 ปีที่แล้ว

    Excellent narrated and valuable information put together. Great job.

  • @Shannon_Vlogs
    @Shannon_Vlogs 2 ปีที่แล้ว

    This is unbelievable. Thanks for shedding light

  • @jackpurswell1380
    @jackpurswell1380 2 ปีที่แล้ว +78

    Although Screens across global markets

    • @stephaniewatson4885
      @stephaniewatson4885 2 ปีที่แล้ว

      A lot has changed and that's on everything but the truth is that i don't even care much about bullish or bearish market because Jacob's Strategy got me covered, I am comfortably earning monthly.

    • @chesterholden3431
      @chesterholden3431 2 ปีที่แล้ว

      Always backup your trading with a good strategy, else the bear market will hit you so hard, and you might wake up losing your saving, that's crypto for you

    • @kimbarton2477
      @kimbarton2477 2 ปีที่แล้ว

      TBH I never doubted trading with Carlson after seeing his P O T Proof of Trades. I have made good profit (+4.9btc), I hope to make more with him

    • @ellisorfelton8740
      @ellisorfelton8740 2 ปีที่แล้ว

      Great advice on crypto and passive platforms. Tells it like it is, honest opinion. Only promoting what is working. He is the Best

    • @IamOutOfNames
      @IamOutOfNames 2 ปีที่แล้ว

      BOTS BOTS BOTS BOTS BOTS BOTS BOTS BOTS

  • @xalspaero
    @xalspaero 2 ปีที่แล้ว +3

    this was a great ad for hardware wallets. I enjoyed it.

  • @ali2009tube
    @ali2009tube 2 ปีที่แล้ว

    This is a greater channel. The research is amazing

  • @stephenwilbur810
    @stephenwilbur810 2 ปีที่แล้ว +1

    Sorry for the 1.7 million people he took but I bet that 1.7 million realized after it happened with they're shocked Pikachu faces that because he's not a bank he doesn't have to follow the same rules as a bank which means you basically threw your money into a black hole and lost it

  • @ckrgksdkrak
    @ckrgksdkrak 2 ปีที่แล้ว

    The truth is most people don’t have 20k to spend on a speculative asset to likely become hodlers.

  • @bronsontolliver9027
    @bronsontolliver9027 2 ปีที่แล้ว +2

    I've seen better sales pitches by guys with squeegees at stop lights than that terriblly acted anti-bank advert.

  • @abdennourtaimour5914
    @abdennourtaimour5914 2 ปีที่แล้ว +1

    Man ..your content is solid. I appreciat your well documented educational videos. Keep it up ! Respect from Sweden .

  • @maximk9964
    @maximk9964 2 ปีที่แล้ว +2

    That commercial at the very beginning is TRUE ART, the acting is just * chef's kiss *

  • @MordethKai
    @MordethKai 2 ปีที่แล้ว +1

    First time I heard the term FUD was from the star citizen cult. I've never seen that term thrown around with anything honest. Sane rational people will have doubt and uncertainty and do research and weigh risks, it says a lot about any group that wants to prevent that.

  • @specialk2000
    @specialk2000 2 ปีที่แล้ว +2

    Can you please send this video to the judge overseeing the Celsius BK case.

  • @intruefaith7612
    @intruefaith7612 2 ปีที่แล้ว +2

    Times like these I'm proud to be old-fashioned and stubborn. A fool and his money are soon parted. Lots of fools out there.

  • @ronenTheBarbarian
    @ronenTheBarbarian 2 ปีที่แล้ว +2

    You keep knocking it out of the park yet again! Great reporting UE!
    Cheers from 🇮🇱

  • @ComradeChyrk
    @ComradeChyrk 2 ปีที่แล้ว +1

    This is why i stay far away from anything crypto related. Everything seems to end up being a scam.

  • @timefororbit
    @timefororbit 2 ปีที่แล้ว

    Who would have thought such bad actors would be involved in finance? It's shocking!

  • @MightyJimbobOZ
    @MightyJimbobOZ 2 ปีที่แล้ว +2

    And Celcius just applied for bankruptcy

  • @controlledchaos9698
    @controlledchaos9698 2 ปีที่แล้ว

    This is the only time I'm ever going to do this but guardio is the shit. That app saved me a few times ngl

  • @anteshell
    @anteshell 2 ปีที่แล้ว +1

    Damn that first video was cringe. It's like they never rehearsed it once after the idea was introduced to people. And the woman's unintentional smile made her look like she'd know how stupid the scene looks and don't want to be there.

  • @philz.1521
    @philz.1521 2 ปีที่แล้ว

    If anyone ever tells you that they KNOW that the stock price of anything will go up or down in the future, its the first sign that they are absolutely clueless about what they are talking and they are either not credible or biased and want to sell you something. You cannot predict the future, ever, (you can make guesses, but they can be innacurate) and stock prices already include future considerations.

  • @maxschmidt1857
    @maxschmidt1857 2 ปีที่แล้ว +3

    how can you dish out sooooo many good videos? doesnt that like take time or something?

  • @Romici
    @Romici 2 ปีที่แล้ว +2

    It destroyed thousands of families.

  • @glennbruner7504
    @glennbruner7504 ปีที่แล้ว

    Greed feeding on greed!

  • @dontthrow6064
    @dontthrow6064 2 ปีที่แล้ว +1

    how can u trust someone who unironically says HODL

  • @Lazzil
    @Lazzil 2 ปีที่แล้ว +10

    The more I learn about crypto, the less I want to invest in it.

    • @ciarangrimes7912
      @ciarangrimes7912 2 ปีที่แล้ว +1

      You’re quite clearly only learning one side of the industry then lol.

    • @Lazzil
      @Lazzil 2 ปีที่แล้ว

      @@ciarangrimes7912 Well go on, then. Sell me on it.

    • @ciarangrimes7912
      @ciarangrimes7912 2 ปีที่แล้ว +1

      @@Lazzil strawman lol, youre on TH-cam watching a charismatic person on one side of crypto, there are plenty of charismatic people on the opposite side, who can explain the nuances of it far better than I could
      You won’t do that though, because in the first place you were never going to invest, you just like having your confirmation bias

    • @Lazzil
      @Lazzil 2 ปีที่แล้ว

      @@ciarangrimes7912 How in the hell is that a strawman? Wait, are you saying that listing reasons to invest in crypto somehow makes it less attractive? That's gonna put me off even more, bro.
      I wouldn't say it's impossible, just unlikely. I could be talked into it if there was some sort of accountability for the asset's failure. I'm just trying to find out if you know something I don't.

    • @ciarangrimes7912
      @ciarangrimes7912 2 ปีที่แล้ว

      @@Lazzil g I’m telling you to look for yourself like you done with this video 🤣. I don’t know what you know about crypto and I’m not gonna take the time out of my dad to type up an essay on the utilities of crypto projects. All I’m saying is widen your range of videos rather than just looking at the bad.
      Be like watching exclusively the lowlights of a sport and then saying how boring it is to watch lol

  • @meyes1098
    @meyes1098 2 ปีที่แล้ว +2

    Funny how those guys only started talking about the crap that happened in the company AFTER it went under.
    I wonder why they didn't speak up before...

    • @TheGahta
      @TheGahta 2 ปีที่แล้ว

      Do you really?

    • @meyes1098
      @meyes1098 2 ปีที่แล้ว

      @@TheGahta
      Nah, I just wish they would also be prosecuted, since they were upper management and had a direct role in everything.

    • @TheGahta
      @TheGahta 2 ปีที่แล้ว

      @@meyes1098 you wish because you assume they had a hand in something? Ok what shady stuff did the hr lady do?

    • @meyes1098
      @meyes1098 2 ปีที่แล้ว +1

      @@TheGahta
      Did the words "upper management" just fly by you or something?

    • @TheGahta
      @TheGahta 2 ปีที่แล้ว

      @@meyes1098 "they" "those" yaddi, yadda
      Whatever weaselwords you wanna use, youre talking about the two people from the video, one being the black guy one the hr lady.
      You assert without reason they should be locked up but get bitchy when asked for a reason, sounds like you just need someone to blame

  • @bilbobeutlin3405
    @bilbobeutlin3405 2 ปีที่แล้ว +2

    Not your keys not your coins!

  • @chilbiyito
    @chilbiyito 2 ปีที่แล้ว +1

    I don't understand Bitcoin but I always saw it as something to store value not to make more money

    • @markbaker4425
      @markbaker4425 2 ปีที่แล้ว +1

      If you want an inflation hedge just buy index funds

  • @MrCapitalizer
    @MrCapitalizer 2 ปีที่แล้ว

    I've been waiting for you to do this one, just abborhent behavior with others money.