Celsius Network has just filed for bankruptcy a few minutes ago!
Exactly seven months ago on December 14th, NIA said in an alert to its members, "Consider selling Voyager Digital (TSX: VOYG) short. It looks like they have loaned $382.69 million of client funds to Celsius Network, which is a likely ponzi scheme. Celsius Network promises 8-15% in yield to people who stake their Crypto with them, but nobody ever asks how this yield is earned. Celsius has hundreds of employees that they pay while also spending big on marketing campaigns and referral programs. They rely on continuously raising venture capital funding and/or receiving bailouts from Tether to keep their ponzi scheme afloat. The yields that they offer cause Crypto investors to keep their funds within the Crypto ecosystem, which helps prevent the Tether peg to the USD from breaking. Investors who are rightly skeptical about depositing Crypto onto Celsius Network, consider crypto-asset brokers like VOYG to be a risk-free alternative to earn similar amounts of yield, not knowing that VOYG is relying on Celsius Network to generate its yield."
A few days prior to NIA warning the world about Celsius, Raoul Pal allowed Celsius CEO Alex Mashinsky to promote the Celsius ponzi scheme at his RealVision event called "The Takeover" at the MGM Grand in Las Vegas. Raoul Pal received a secret seven figure payout from Celsius to allow them access to RealVision subscribers at the MGM Grand. Raoul Pal's RealVision prominently promoted Celsius CEO Alex Mashinsky alongside Timbaland as their featured speakers at "The Takeover". Raoul Pal was even a featured guest on Celsius CEO Alex Mashinsky's December 10th AMA streamed live from RealVision's "The Takeover"! Raoul Pal has refused to disclose his seven-figure payout from Celsius Network!
With the help of Raoul Pal, Celsius received eight-figures in new deposits within days of "The Takeover".