Celsius: Ponzi skeem?

8. juuli 2022 / Unchained Daily / Laura Shin

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Igapäevased bitid✍️✍️✍️

• Aave pakutud a new decentralized and over-collateralized stablecoin.
• Decentral Bank, the protocol behind USN stablecoin, fikseeritud a bug that briefly led to the minting of 10 trillion USN.
• reddit käivitatud an NFT marketplace hosted on Polygon blockchain.
• The American Bankers Association is hoiatus against a US central bank digital currency.
• Crema Finance’s attacker tagasi $7.6 million to the protocol and kept $1.6 million as a bounty reward.
• Binance.US palgatud a new CFO ahead of IPO in the coming year.
• Aztec Network, a blockchain focused on privacy, käivitatud DeFi bridge Aztec Connect.
• Kompassi kaevandamine lühendatud its staff by 15% and also made salary cuts.

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Täna krüpto kasutuselevõtul…

• MakerDAO Vastu võetud a governance proposal to create a 100 million DAI vault for Huntingdon Valley Bank.

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$$$ nurk…

• Hidden Road, a company that provides financial services for digital assets, tõstatatud $50 million led by Castle Island Ventures.
• Tenderize, a DeFi protocol, tõstatatud 3 miljonit dollarit rahastamisvoorus.
• Konvoy Ventures, a VC focused on gaming, käivitatud 150 miljoni dollari suurune fond.

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Mida meemeerite?

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Mis on Poppin?

By Juan Aranovitš

Thursday afternoon, the anonymous account 0x_b1 selgus his identity and accused Celsius of some shocking practices. He said his name was Jason Stone, he had worked with Celsius, and he was suing the crypto lender.

His company, KeyFi, started providing services to Celsius in 2020. According to Stone, he was deploying DeFi strategies for Celsius, and was handed the private keys to the accounts that he managed for the crypto lender – all on a “handshake” deal. The funds that were managed by KeyFi were, in the end, customers’ deposits.

Celsius was supposed to be monitoring KeyFi’s strategies and hedging them against impermanent loss (when you provide assets in a liquidity pool and there’s a loss in the value of the assets).

However, in February 2021 Stone says he discovered that Celsius had been lying to him and that “the entire company’s portfolio had naked exposure to the market.” In light of this discovery, he says he decided to terminate his company’s relationship with Celsius.

After more than one year of disputes, Stone finally sued Celsius. In the kohtuasi, he alleges that Celsius used customer’s BTC to pump the price of the CEL token and that Celsius failed to hedge against KeyFi’s trading strategies. He also said that Celsius did not perform basic accounting practices which resulted in a loss of $200 million that the company “did not even understand.”

In addition, he accused Celsius of being a Ponzi scheme. For example, Stone alleges that once it had a preponderance of customers wanting to withdraw their ETH, it began offering double-digit interest rates to attract new ones. He also says Celsius borrowed $1 billion from Tether at a 5% interest rate, but it offered its customers much more than that. Furthermore, the lawsuit describes how Celsius had massive liabilities to depositors denominated in ether but had not maintained ETH holdings equal to those liabilities.

Celsius was one of the many crypto platforms that had to freeze its customers’ funds. “The recent revelation that Celsius does not have the assets on hand to meet its withdrawal obligations shows that Defendants [Celsius] were, in fact, operating a Ponzi-scheme,” said the lawsuit.

The accusations came only hours after Celsius had tagasi makstud its entire debt to Maker, and had started showing some positive signs towards its recovery.

As of press time, no one from Celsius has yet responded to the allegations made by Jason Stone.

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Soovitatavad lugemised

1) Hasu on MakerDAO Governance:

2) Frederick Munawa and Sage Young on Block Builders and MEV:

3) Zee Prime Capital on improving community distribution:

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Podis…

Nova Labsi tegevjuht ja Heliumi asutaja Amir Haleem räägib asjade Interneti (IoT) kasutusjuhtudest, kuidas plokiahel ja krüpto aitavad luua detsentraliseeritud Interneti-taristut ning milline on Heeliumi tulevik. Kuva esiletõstmised:

• mis on heelium ja mida see püüab lahendada
• kuidas pärast aastatepikkust võitlust aitas krüptožetoonide kasutuselevõtt heeliumil lõpuks kasvada
• kes on heeliumi kasutajad ja mille poolest nad üksteisest erinevad
• kuidas Heeliumist kasvas miljon seadet üle maailma
• millised on IoT-ruumi väljakutsed ja kasutusjuhtumid
• miks Heelium otsustas uusi võrke lisada
• miks Heelium käivitab iga uue võrgu jaoks spetsiaalsed märgid
• mis on katvuse tõend ja miks see on kasulik
• mis on avatud lähtekoodiga mobiilsidevõrk ja kuidas see töötaks
• kas on vaja võrgu mõningast tsentraliseerimist
• milline on Heeliumi tegevuskava ja millised on peamised verstapostid tulevikuks

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Raamatu värskendus

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