Independent Examiner Excoriates Celsius as a Ponzi
The Breakdown
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The Ponzi-Like Dynamics of Using Customer Funds and New Deposits to Buy Sell
Ram Alawalia of Lumita Wealth: People are just starting to dissect it, and I'm drawing from a number of those threads. One big theme is the Ponzi-like dynamics of using customer funds and especially new deposits to cover older obligations. Celsius also used the proceeds of these borrowings to continue to purchase sell, which, editors note, is their native token. Some executives were nervous about how high the rewards they were offering to the public got.
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