A Pyramid of Ponzis: Celsius Network - Episode 85
ฝัง
- เผยแพร่เมื่อ 17 มิ.ย. 2024
- In this episode Bennett Tomlin and Cas Piancey discuss a lawsuit against Celsius Networks by a former trader accusing them of being a Ponzi scheme.
This episode was recorded on July 8th, 2022.
Read more: cryptocriticscorner.com/2022/...
Other episodes mentioned in this episode:
Episode 1 - Tether: A Stable Discussion • Tether: A Stable Discu...
Episode 2 - Tether: A Stable Discussion Continued • Tether: A Stable Discu...
Episode 3 - Tether Questions and Answers • Tether Q&A (Audio Only...
Episode 6 - Crypto Capital Corp: the quiet billion dollar cryptocurrency scam • Crypto Capital Corp: t...
Episode 26 - Cryptocurrency Lending is Too Good to Believe • Cryptocurrency Lending...
Episode 79 - Celsius Collapse: Causes, Concern, and Catastrophe (Feat. Dirty Bubble Media) • Celsius Collapsing: Ca...
Episode 47 - Michael and Omar and 0xSifu, oh my! • Michael Patryn and Oma...
Episode 83 - Contagion and Cascading Liquidations in Cryptocurrency • Contagions and Cascadi...
Other Resources:
Lawsuit iapps.courts.state.ny.us/nysc...
Jason Stone thread / 1545153673445113857
0xb1 address etherscan.io/address/0xb1adce...
0x50dd address (Believed to be Jason's where he sent NFTs from profit share) etherscan.io/address/0x50dd57...
usastrong.eth 0x57ea (One of Krissy's known addresses) etherscan.io/address/0x57ea28...
0x37284 (The address we believe to be the one described in the suit) etherscan.io/address/0x372847...
Babel Whistleblower decrypt.co/43168/whistleblowe...
Other places to find Crypto Critics' Corner
Website: cryptocriticscorner.com/
Twitter: / cryptocriticpod
Instagram: / cryptocriticpod
TikTok: vm.tiktok.com/TTPdPN2hK9/
Discord: / discord
Bennett's Twitter: / bennetttomlin
Cas' Twitter: / caspiancey
Bennett's Newsletter: TheFUDLetter.com/
Cas' Blog: / thecaspiancey
Bennett's Blog: bennettftomlin.com/
Asher's Twitter: / ashtag23
Timestamps:
00:00 Who is suing Celsius?
0:40 What is in the suit?
3:45 Control over Wallet
7:14 Why was Celsius in DeFi?
8:51 A Ponzi invested in ponzis
12:03 NFTs
17:55 CEL Token
20:14 Scammers scamming scammers
25:15 Accounting issues and Tether bailout
27:24 Deep relationships and embedded leverage
34:40 Is there promise for regulation?
This video was produced and edited by Asher Hirsch.
#cryptocurrency #crypto #podcasts #listenable #web3 #celsius #celsiusnetwork #lending #cryptolending
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Before you two would call out potential issues months in advance, now there's so much collapsing at once you have to play catchup
I used to work for Celsius. I even met Jason. He called the management team the “nepotism crew”. CNBC flew down south to meet me last week to talk about the company. They’re gonna put me on tv. I wish they would’ve released it before the bankruptcy announcement. I predicted the bankruptcy in the interview.
You worked for Celsius? That’s interesting
Sounds like we got a guest for another episode!
Yes, I was on CNBC, in a segment during The News With Sheppard Smith. Kate Rooney interviewed me. I was the Director of Financial Crimes Compliance up until Sept 2021 when i moved on to a UK crypto company. Celsius was an interesting place to work, to say the least. I’m very sad to see how things have turned out. Also, I love your podcast!
LMAO, so fun to watch. Crypto has cured me of my libertarianism.
This is exactly what I’ve been waiting for. To me, this is what CCC is about. Deep dives unwinding complex financial scams in the cryptocurrency space. I know y’all have been experimenting with having pro-coiners on the show, but it low key just feels like they take the opportunity to explain how everything everybody else is doing is fraudulent, but totally not what they’re doing. I think that format could work really well if you really put them in the hot seat and grilled them on tough questions, not letting them sidestep or give a non-answer. It’s difficult to take a show that is very anti-crypto and turn it into a more neutral debate from both sides. That format may be better as it’s own show though, as most of the audience here will likely be frustrated with anything less than an absolute evisceration of pro-coiner arguments. I really don’t want this to come off as harsh or mean. I really love what you both do, and I want to see more of it. There’s no one else covering these topics like you do on this show. For real, the fact that you guys can pull at these tiny strings and follow them to some rotten core of corruption and fraud is just amazing. It’s seriously impressive journalism that you just don’t see these days, even from mainstream outlets. That’s something to be super proud of. I just want to give some constructive feedback that I hope you will take and use to make the show even better. Know that your work is appreciated more than you probably think, and I’ll see y’all in the next comment section. Peace ✌️
Edit: I’d also like to say that I’ve really enjoyed the episodes where you’ve brought on other journalists covering frauds in this space. It’s a nice synergy with a side of cross promotion.
We appreciate the feedback!
Well said!!!
@@CryptoCriticPod This clown looks like he lives in his parents attic.
Guys, you have no idea what outright gold your discussions are!
I stumbled on to this awesome channel thanks to the podcast of Matt Binder mentioning your channel.
Keep up the awesome work, guys!
Thank you!
It's amazing that he talks about "his share of the profits" while losing money.
You guys are pure class. Grimacing and laughing through the pain.
Always exciting to see the transition of facial hair between episodes for both Cas and Bennett.
Bennett has easy face hair to track, lol.
Bennett is on the money at the end there. Our political/regulatory landscape is pretty bleak right now. There’s a cryptobro in my city who’s running for state government and I think that’s another vector that lolbertarians are pursuing (since it worked so well for Republicans).
Cas looks ten years younger clean shaven.
Smooth Cas
Greetings from Finland. I've been binge-listening your podcast on Spotify for dozens of episodes. You're such pros and the podcasts are very well put together.
Holy shit, that Bennett rant at the end was fucking amazing.
Sometimes I get a little frustrated
Actual financial reporting happens here! Thanks!
Man, I knew all these defi and crypto projects were lending and borrowing between each other, but I had no idea it was going to be THIS big and cause so many failures.
It’s been wild to see the curtain get pulled back
I'm basically cynical, but this stuff is amazingly shameless even to me.
I'm not even a pokemon lover but man that infected pikachu
I think it has value in its grossness
I'd pay to hide it away
Far far away
Episode 85? I need to start hiking more to fit all these quality podcasts in my week.
You’re right that many of these issues are financial market related, i.e., greed and never enough profit, but in crypto markets the regulatory and legal infrastructure is evolving which allows a proliferation of these “bad” actors taking advantage of uninformed and undereducated retail investors.
This podcast is underated. Keep up the good work guys 👍
Thank you!
Great ep! Funny how everything is moving so fast, the topics covered in this episode feel like they happened months ago.
Now we’re going to have to go back and do their bankruptcy filing since that happened today!
Yessss
Heard there was a youtube channel from this episode of the podcast - came to check it out and am!! So hyped for the captions!!! Props to y'all for captioning all this (or having it captioned - either is admirable enough!!!) wonderful podcast, so hyped to watch/read along!! :)
Great podcast! All of the Celsius AMA videos are still there! Alex actually says many times that Celsius gives out “No income, no job , no assets” NINJA loans! Reminded me of The Big Short movie.
Mark Baum:
I don't get it. Why are they confessing?
Danny Moses:
They're not confessing.
Porter Collins:
They're bragging.
"Banks are not your friends" that is what says in front, with untraviolet light you can read "Neither are we" on the back of his shirt.
Looking back at this now, the idea of having ‘valuable NFTs’ listed in court documents seems as much a part of bygone era as ‘Dirty Rotten Scoundrels’
Another killer session gentlemen
Thank you!
If you go back on these guys twitters you notice the people who where saying they didn't understand crypto are no where to be seen.
I just started following you, and I love the information you guys put out! I loved your intelligent conversation with Cynthia Cooper. I am mearning so much about crypto. Yes, I am a layman . Just learning. And you guys are hilarious
Watching this after the ftx collapse... hehehe....
Really enjoyed the episode.
Thank you!
Love this guys and all you do!!
Thank you!
this looks prophetic now
Good job keeping track of this four dimensional spiderweb.
crazy crazy stuff!!
please keep doing what you're doing but i cant watch this stuff anymore since the sky is green and its depressing
You both were prophetic.
Hey Bois, Keep it up, loving the content.
Thank you!
It's the cracks in the foundations where the next phases of growth emerges from.
There will always be those who play fast and loose. There will always be those who play by the letter ofthe law and others who play by the spirit of the law.
The stress of eternal pessimism will take years off your life and many optimistic lemmings will follow each other off cliffs.
These years ahead will be very trying times for everyone. Take care of yourselves!
we need folks in jail!
Lmao so funny to come back from the future to a time where people stumbled over who Caroline Ellison is.
No one struggles to remember (or quote her) now!
🤝
Machinsky is going to prison.
Great episode but found myself fast forwarding through to get to BT’s parts, could tell that Cas had had a few and rambled on a bit.
algo
Lol...still in diapers..
“Bitcoins not going to zero” I wouldn’t be so sure about that. If only due to quantum computers eventuality.