Why Celsius Fell Apart
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- Опубліковано 17 чер 2022
- Unbank yourself - not a great plan in hindsight
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This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch. - Розваги
As hard as I tried, I couldn’t even fit everything in this video, as long as it is… so here’s EVEN MORE DETAIL FOR THOSE INTERESTED!
Alex Mashinsky’s Connections to Past Rugpulls-
Alex has some strange connections to prior failed ICOs, that look like RUGPULLS. This was reported initially by Dirty Bubble Media: Basically the story goes that Alex has an NFT twitter profile that proves his ownership of this wallet: 0xc33192B79AD149b05169516A8aF2adc6e1E08EF6
This wallet is then connected to an account that dumped a bunch of ICO coins from companies he previously advised on-SIRIN LABS and MICROMONEY.
But it doesn’t stop there, some of the sketchy hires we discuss in this video, like the ones arrested for money laundering are CONNECTED to these past rugpulls, as explained by UpperEchelonGamers.(linked in description)
stETH/ETH liquidity issues:
Not to be confused with the Stakehound situation, Celsius had further issues with an ETH2.0 derivative on DEFI pools where they found themselves stuck either keeping their staked ETH2 or selling a derivative worth less. Linked:
www.coindesk.com/markets/2022/06/14/staked-ether-becomes-focus-of-crypto-stress-from-celsius-to-three-arrows/?outputType=amp
Let me know what you think of longer videos like this!
Love the longer videos. I have been watching this story with some interest
keep doing good work their are to many scams out their
Is it possible you could pin this so we dont lose your comment when other people start commenting.
How much longer before Tether collapse. Based on reserves they should be out of on hand cash
your starting to look like Al Borland from from Home improvement. You all know my assistant, Al "what's the point of having a weekend?" Borland!
My dumbass thought it was the temperature
Same lmao
Same
Me too.
Same bruh
Same 😅 when I saw the thumbnail, my first thought was like "every country except the USA are using celcius, so i think it's gonna be fine" completely forgor about the company
"The government is corrupt so let's give our money to anonymous people in a deregulated system."
-Crypto logic
exactly, crypto people don’t understand what “two wrongs don’t make a right” mean!
It's just the same crony capitalism but with a backwards cap instead of a top hat.
@@moonshadow7057 it's part of the Libertarian mindset; selfishness solves all problems.
You don’t have to give it to anyone you can keep it all to yourself in a ledger.
@@raztube90 In order to obtain the currency in the first place you have to buy it ie. give someone your money
I think the failure of all crypto companies could be summed up by the following phrase “Everything was going great till people started wanting their money”
oh, that’s deep
And here we are one year later: Mashinsky is indicted by the DOJ and sued by the FTC, CFTC, and SEC. Great work as always Coffee! Investigative journalism at its finest
Now in jail
Well he definitely delivered on the promise of unbanking their customers.
hahahhah
BURN!
Adrian- well played and thank you I needed the laugh. Obviously not laughing at a lot of regular folks losing their savings.
Zing
Lol
I owe Coffezilla big. I took all my assets off Celsius right after his Luna video at the beginning of May. It really made me think twice about who I was trusting with my money.
Congrats, it's scary man, glad you even could get out.
Buy Bitcoin at any price: HODL
@@landline00 bruh im so diamond hand its almost like i forgot my password
Well done dude!!! A lot of others might well soon regret not doing as you did.
@@michaelmartin9148 Thanks! I've joked that getting my money off Celsius at the 11th hour was the best trade I've made in years.
What I can't get over is him claiming that VOIP was completely disconnected from the phone companies/infrastructure, as if the internet didn't operate over phone lines in the 90's.
I was thinking this exact thing lol I get my internet from the phone company 😂
... and given the slow adoption of voip, we had to connect voip directly to the telecoms so anyone would even be willing to use it.
This is like watching all the personalities of all the toxic people I have encountered in my personal life play out but with billions of dollars of innocent people's money.
Come on who is innocent in crypto? They're all wannabe scammers.
It pays to always be suspicious of people who constantly position themselves as standing against some easy villian like the banks, the media, big pharma, etc. It's just an emotional appeal meant to lower your suspicion.
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
You mean, like the woke mob?
Sounds like GME apes
Yes, but banks are evil
Use of Emotion always leads to poor judgment
Celsius : "We're not a bank."
Also Celsius : "We enable you to deposit your coins and enable you to lend them to someone else"
I don't like banks a lot and the few money I've got in my account isn't giving me 10% but at least I'm pretty sure it will still be in my account next year and the year after this and the other one after that... lol
But they don’t enable you to withdraw them, so obviously they’re not a bank
@@msnhao well they did till a death spiral occured
They were never a bank. Closed to a hedge fund, they just had savvy marketing
They wish they were a bank in scenarios like this one. Nobody will bail them out now
Coffee is probably UA-cam's very best at the moment. The amount of research and ACTUAL work put into these videos in insane. Not to mention the fact that his editing is perfect and he's an overall hilarious guy.
@@samlevy2137 woah her channel looks sick, great recommendation, I will definitely check her out!!
People Make Games are also doing some incredible journalism, if you want another channel.
100% agree.
Barely sociable is top notch as well
@@JaVaughnwho
"There's no 'I' in 'Team', but there's a 'con' in 'Economy'" - Cryptobros, probably
OMG I completely agree Coffee, who tf brings a laptop to the beach it’s just gonna get sandy, wet and over heat and honestly if you bring any electronics to the beach it just completely goes against the entire idea of going to the beach altogether your meant to get sandy and wet.
Also I guess the stuff about Celsius was a good point to.
I think it could be quite cathartic to throw a laptop into a large body of salt water.
Not to mention…you’re at the beach and not having fun. Wtf is wrong with you?!
True story - I was a full beach bum when I was uni student. One day I was on the beach typing an essay and the most ROGUE wave came out of absolutely nowhere and straight up destroyed my laptop.
I had been there a couple of hours and the waves were crashing nowhere near me. Then that one ruined everything.
@
Report accounts like this. Report them as unwanted spam.
I like that you focused on the true message here!
Ahh yes. Celsius, it's like a bank, but not a bank, with lending like a bank that isnt bank like, without regulations like a bank.
I wonder why it all went wrong.
😅🤣😂
Close. Actually it's like a bank, but not a bank, with lending like a bank that isn't a bank, without regulations like a bank and without the protections of a bank that wants to help you defeat the banks but needs bailouts from the banks.
Cause it didn't have government bail out. Cough Federal reserve
@@profanegaming2829 you forgot to add the banks need bail outs from the federal reserve
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
Yikes! As someone who had 40% of his crypto on Celsius, this is sobering to hear. I was initially hopeful that I would recover my crypto I had with them. I really thought Celsius was a low-risk place to earn yield because so many prominent youtubers talked positively about Celsius and Alex was on their shows so often. This has been a very painful lesson to learn.
was gunna chuck money in but i cashed it or lost it already so :X
Sorry to say it mate, but "low-risk" and "crypto" just don't go together
I'm right there with ya. Sucks
Crypto is never low-risk -- it's speculation on an 'asset' with no value.
What?! UA-camrs getting paid to promote things let you down?! HOW COULD THIS HAVE HAPPENED¿|||
"Having someone with only two years of experience handling hundreds of millions of dollars in customer money is always going to be bad." FTX: Hold my polycule.
They had at least more experience
8:38
"What are you doing to earn money with it?"
"It earns at 5.5%!"
"But HOW?"
"It DOES do it!"
"But HOW does it do it?"
"It does generate money!"
"But HOW?"
That's basically what happened there, while the pretty lady just pretended to smile.
pretty lady just sits back and enjoy the crypto drama, lol
The guy asking the question would interrupt before whats-his-face could even attempt to bullshit an answer. I wish he just let the guy dig his hole deeper, instead of yelling over him constantly.
@Zebo12345678 thr guy interrupting him is Peter Schiff. He predicted the last 2 recessions and made a fortune off the banking collapse by betting against the housing bubble
@@Zebo12345678 well he was hoping he could actually get his answer; journalists learned this lesson with SBF given how many of them just let him dig his own grave in their interviews and keep talking.
My biggest regret in all of this is that I'll no longer be able to ask cryptobros of they are 'in CEL'
😂
This right here is the real tragedy.
But they still are. That's the whole problem.
I don't think you know what regret means
AI generated joke lmao
I was so confused at fist. Never heard of the company so I thought this was going to talk about the measurement of temperature falling apart lol
Climate change is as fraudulent as crypto system, at least cryptos do not enforce you to submit
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing What you're Doing.
Years ago I was in a LARP game, playing as a Russian inventor/businessman (which was actually a liar and scam). I saw my character in the clips of this Mashinsky guy.
Btw. In the lunch break, another player told me that I was talking great things and everyone seemef to be on board with my plan but he won't be trusting me because my character is Russian and I laughed.
Love when someone gets out of a scam or Ambush just from hating an arbitrary part of that person. It's hilarious
This is casual misinformation and propaganda about Russians. Mashinsky was born in Ukraine not the Russian Federation. So he isn’t even a Russian businessman. Russia by the way has restricted Cryptocurrency as the Kremlin says blockchain technology is not trustworthy. So I would rather trust Russian businessmen. They know what they are talking about
@@daleyhuard3675 Totally
Just realized I've been watching you long enough to see your hair all grow back after you shaved it.
You look good dude.
weird
What would we do without Coffee? The UA-cam detective we didn’t know we needed. Sold off all my crypto because a few weeks prior to the crypto collapse (thanks to Coffee) and glad I did.
Absolutely, he's top shelf.....although I'm still not convinced he realizes that these scammers aren't bad apples......they're the whole barrel!
I sold because of the war, but coffe really touches on all the narrative that even bitcoin uses, while showing other projects. it is refreshing to see actual criticism.
Ah yes, all investors go on youtube and sell their stocks because a youtube influencer told them too.
@@mariomario1462 Ah yes.....so wise one can't even spell to. Buy the dip brah!
@@Patrick-bu5vy what does an extra o have to do with anything? If u can't actually respond to anything I've said then don't reply. And yes I am buying these dips asid coffee here who has said multiple times he owns bitcoin but keep lying
Bruh i thought Fahrenheit won
Same….very sad day
Nope. 🙂↔️
I am fully convinced that you should always do a background check on the CEO's / "People at the Top" of the company you want to invest in.
That would have saved alot of people.
You don’t even need to go that far. If a guy is projecting himself as the good guy against all the evil corporations, he is probably evil, especially if what he offers is too good to be true
*"I don't like sand. It's coarse, rough, and irritating and it gets everywhere... in my keyboard."* Coffeezilla, 2022
"I hate sand"
- Anakin Skywalker
@@tablettablete186 pretty sure Luke also says something similar at some point in episode IV.
If coffeezilla has an Anakin story arc, there will be a UA-cam channel about his channel
@@doctoroctos "YOU WERE THE CHOSEN ONE! YOU WERE MEANT TO DESTROY THE SCAMS NOT JOIN THEM!"
Celcius goes insolvent
CityGroup: "You couldnt live with your own failures and where did that bring you? Back to me"
😂😂😂
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
"Reality is often disappointing"
Lol
"What did it cost?"
"Everything."
Aaaand it's gone, it's all gone.
having seen the outcome of the battle of sand vs. sd card, I can confirm, beach and computer don’t match. I dropped a zoom h1n into the sand after it fell out of a pocket, and had been recording waves and sea birds at sunrise. The machine and all the switches got asaulted with a slurry of sandy water which got driven in by waves. The record button was trashed, but the sand went into the sd slot and literally removed half of the micro sd in the machine.
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing what you're doing.
_Wow_ that's a lot of linked bots..!
Poor man just wanted to share his sand vs sd card story and the bots descended :(
Your SD card was returning to the quartz beach of its silicon ancestors.
Rip, my dad does photography as a hobby and he hates beaches with a passion
Peter Schiff looking positively sane is probably the funnest part of this video. Having been in banking my whole life, I know that people hate banks and think banks are evil - and they are - but regulated banks are essential to any economy. This fantasy of a world without banks due to some technological advance is a nice idea, but we aren't there yet.
@Hugh Mass-stiff defi aint it bro. nice try.
@@HC-sb1ru man most countries have banks on them just because the US put a coup on them.
Banks are the biggest war criminals
Agree, people need A Central authority to regulate them, otherwise survival of the fittest Law aplied to them
Regulated banks IS the economy yea.
There's a genre in fiction called "competence porn" (C.J. Cherry's "Foreigner" series is a great example of this). I'm coming to feel that watching Coffee's exposés is a genre all of its own, too: "incompetence porn".
I have a lot of questions
I feel like Celsius was the bank equivalent of “I’m not like other girls”
I've been at companies that grew at a tenth of the speed of Celcius and fell apart from being unable to onboard new employees (especially managers) well enough to keep productivity up. Growth hacking is extremely dangerous to any company that tries to have a value beyond marketing itself to VCs.
If you want to grow a company and have to add a management layer (which is inevitable as everyone can't report to the founder) then you should look to promote within the company as it avoids onboarding issues. A company should focus on bringing in management that lack skills the current team has and become more prominent as the company grows (usually finance, law, sales and HR). But they should continue to invest in the staff that brought the initial growth. This lowers the chance that the culture that fed the success is eroded. However, a 281% organic increase in staff in a year is insane, and I agree pretty much unmanageable no matter the approach.
It's true. Most companies fail because they can't grow fast enough. Some fail because they grow too fast
@@dannys396 Baloney. A perfectly good engineer or programmer might well be dreadful manager.
Damn 1.1m subs. Here since 60k. You deserve it coffee, your content has been quality, consistently and with its own character and niche. Bravo.
The definition of a good dude
I was here since 600k
@inspecteur gadjet oui mais j'ai plusieurs comptes
Woah 1.1M? didn’t he plan to announce a move to a different digital studio after 1 M subs?
Random redditor was trying to justify losing his mother's retirement money, saying "EVERYONE on reddit said it was good!"
No. Many people were telling you exactly what was going to happen. You didn't listen. To that guy, I hope your mother testifies against you at your trial.
How do you even get control of your mother's retirement money? That's just multiple levels of fucked up
Have a link? I’d love to read the thread
@@dfonseka2120 I'm a member with a not insubstantial amount of coin in Celsius. I read that thread. Guy put in 1.3 million dollars of his mother's retirement fund and basically said they were going to be destitute. When even other Celsius users started roasting him he tried to defend himself by saying he has high functioning autism, and basically wrote like a 5 year old. I also have high functioning autism. You know what I did? I spread my funds across 3 platforms because diversification is my friend, and I'm not stupid. Only downside is I kept most of my BTC on Celsius so if it goes tits up I lose my most important third, but I still have 2/3rds safe, away from Celsius's stupidity
@@themobsprinter So he's still in the denial stage of the market cycle psychology....
@@altriish6683 redditor males tend to be the most weaselly and dishonorable
it's so funny how people think that blockchain solutions will decentralize finance. they're centralizing them more. just because it's implemented on the cloud doesn't make it suddenly not a single conceptually centralized data store
24 year old was the head of lending at Celsius, having worked as an adult actress prior to joining Celcius. I assume her acting was considered as relevant experience to the crypto industry she was joining 😂
Well, she had a vast experience of screwing people, so... checks out?
Is there actually anybody who doesn't believe Mashinsky was banging her (or tried to get into her pants)?
Seriously ?
@@kenhart8771 pump and dump, bro
Take a look at Safemoon. All the influencers are bailing ship. Gotta love people with their "To the moon or bust" attitude. People with the first name like Safemoon....Well you get the point. Great video Coffee
The clip you showed of Alex was him debating Peter Schiff and I saw it a couple months ago. it was laughable to see the vast majority of people thinking Alex won, it was clear Celsius was a house of cards from the very beginning
Was it clear ?
Lol, two con artists debating each other. Must have been a sight to see
@@altriish6683 This man gets it.
@@altriish6683 How is Peter Schiff a con artist? Literally everything he sells is straightforward and delivers precisely what is promised.
@@altriish6683 Peter Schiff is not a con artist. He's probably has the most integrity of anybody in the financial space. Very strange viewpoint there.
Celsius: Forget about banks!!!!
Also Celsius: Daddy Citigroup plz save us!!!!
I used to think entrepreneurship at these high levels was noble…its turning out to be a bull pen full of sociopaths.
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
Sad but true…
Well, how do you think the titans of industry throughout history built their companies and last a long time? You have to be crazy to attain that level of success and stay in the game.
Celsius was a publicly funded hedge fund that pretended to be a “defi bank” through savvy marketing.
They took their customer’s deposits, tried to invest the money and make a bigger return than their apr and withdrawal obligations.
This is the truth 👍
💯
Nothing wrong with being a defi hedge fund as long as they say it's that
@@thewhitefalcon8539 TRUE
@@thewhitefalcon8539 3ac were upfront about it. Doesn’t change that they are bankrupt, but atleast they didn’t con others
So, defi hedge fund? Crypto 1%?
When I've clicked on this video, I expected something like "why Fahrenheit > Celsius"
I don't know whether I'm relieved or disappointed.
I think most of us, yeah
Always ask ourselves why someone wants to help us become rich. If something is too good to be true, it probably is (too good to be true).
Bro I just want to see a video of him doing the process it takes to make these videos, it's one thing to sit down and edit this stuff but it's another to research and actually call people to do interviews, I just don't understand how he puts the puzzle pieces together the way he does it's very impressive
@Whatspp☩①⑤⑤⑨②②②①⑧⑨⓪ scammer stay away bro
You learn how to research in college. I don’t know about how he gets people to do an interview with him (might be with incentives) but at the end of the day, he knows how to do research, and does a great job presenting his findings
Literally the only thing that causes me to just listen (vs watch) is the strange camera angle he keeps going to just after 19:33. I’m not sure why but it’s super off putting.
Yea a behind the scenes would be great
Journalism at its finest. I think we've gotten so used to half baked UA-cam videos. He's actually trying at a professional level, not just trying to be a UA-camr.
Alex Mashinsky: We're not a bank, we're a special operations financial institution.
This is not a funny joke, this is a special mood enhancement operation.
One thing I've noticed about crypto bros is that to them "decentralized" literally just means that something utilizes the blockchain at some point, regardless of whether it is or isn't actually decentralized
They probably don't even understand what the term means in the first place.
The guys with access to admin commands consistently say otherwise
@@mathiasrryba not many, because gangbangers keep ramming it down our throats
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing what you're Doing.
While the whole FTX thing is going on. Don't let people forget about Celsius and Alex Mashinky!
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing what you're doing.
Celsius succeeded in helping their customers no longer worry about money.....not because they are rich, but because they have none to worry about anymore.
Dude I love your content I'm not in the scene of online money but watching your content keeps me up to date on what's big and mostly what to avoid and I'll probably still stay away from digital money but still I'm learning a lot from you and it's crazy thanks man.
stay away from everything but Bitcoin. Bitcoin is the future. Read about it and u will understand. Buy Bitcoin!
@@shz6148 can you explain why 😅 i dont have Money anyway but i would be Vers interested in knowing Why you think Bitcoin can Hit New highs again
@@durchmesserd5587 btc is considered the store of value in crypto, ethereum is the math that everyone uses. If Mt gox failing didn't kill btc, then inflation won't
@@durchmesserd5587 Man i just wrote a long comment explaining a lot and managed to mark the whole thing and delete it - _-
@@shz6148 amazing. Tell me how a drop of $4000 over the last 7 days is considered profitable?
So... He claims VOIP was decentralized from the phone companies infrastructure, but in 98, nearly all internet services directly used phone company infrastructure.
I have watched other UA-cam podcasts but none explained it better than u. I enjoyed it. Keep up!
Celsius: Banks are not your friend!
...but they are FDIC insured in case they collapse
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
tried taking my laptop to the beach was definitely the worst experience ever you can barely see the screen. How can someone work like this?
Because they don’t
I tried it once too. It was impossible to see anything.
Love the long form, the detail is what makes you top notch and makes it extra interesting
It's ASMR to me to hear you calling people out. Bravo Coffeezilla!
I love your niche, my friend 🤓👍
You are not shilling anything, you're not selling anything, you are a True Investigator. And you're doing A Real Job in a Digital World, & it's where we cross paths🤓
You are my friend, my friend 🤗💜💯
Loves from Canada 🇨🇦
While others experience FOMO and rush to buy some crypto, I experience FOGB ( Fear of going broke) therefore stay away from any crypto. Those things have no market value.
I am a certified FOGBro
That’s why you never invest more than you can afford
yeah 100% and recent events have shown that apparently crypto is rife with scammers, so I just don't see any reason to go in
It has value, but the term you used is cool.
@@FreddyPhD It also helps if you invested BEFORE it got hip-- never invest on something volatile if it's mainstream, that's a peak value point and where you should pull out if you don't want to gamble on a bigger peak in the future instead.
I'm glad you got that Peter Schiff clip in here I was thinking about that
Man I remember when this channel had 30k subs. You deserve it!
5:00 VOIP is completely autonomous of the phone line infrastructure and rides on the internet.
Which used to ride on the old phone lines.
So VOIP more so just moves to protocol one abstraction layer up. Without phone company you still can‘t do shit because you don‘t have internet access.
Makes sense if you dont think about it, question it, or take two seconds to figure out the timeline.
In fairness, VOIP can run over any network that uses the Internet Protocol, be it an internal office ethernet/wifi-based intranet, or an ocean-spanning fiber connection, or a satellite constellation in low orbit. Telephone companies were big players, sure, but it wasn't long before *they* turned themselves into ISP, and switched to VOIP-derived backends themselves. It's VERY rare to see actual circuit-switched networks still in operation.
How the HELL could StakeHound lose the keys to its ETH? As incompetent as Celsius was, this is amazing.
Or, OR, hear me out... They lied.
@@foongern1071 There's merit to that idea, but I'm wondering how bad it could be that it's preferable to admit a truly staggering degree of incompetence even compared to that of Celsius.
I don't want to sit on a beach with a laptop. I want to sit on a beach with a cooler full of beer. Why would I want a laptop?
incredible coverage!
As far as I know, in modern banking "depositing" is also loaning to the bank, and "withdrawing" is again calling your loan due. Banks no longer hold the money you give to them tucked away in a safe somewhere, they just write it in the books as their own debt to you. So in essence: even with the wordplay tricks Celsius uses, to differentiate themselves from regular banks, they still are describing a bank.
It is a bank, minus all the regulation and the insurance in case they lose your money.
So they're a bank, but worse
If by 'modern', you mean 11th century. There's examples as far back as we have written history, but it's a little shakier how they managed deposits and loans. But everyone hated owing money to them back *then,* too.
Except they're not backed by the Central Bank so when they inevitably collapsed, you're fucked.
C-Zilla you're the man. The level of research and in depth investigation you do is beyond amazing. You've exposed so much fraud and bs. Keep up the incredible work
I love these longer videos man
You are doing great work @Coffeezilla ! Stay grounded!
In talking about how much the founder made off of this debacle, you didn't even mention what he was probably playing himself in salary. The worst part of any bank collapse like this is that the executive team will have been pulling large salaries even as they lose customer money hand over fist. Unlike a regular business, where customers where usually getting a product/service in return.
I wouldn’t be quick to say banks would’ve stopped paying themselves large bonuses during a collapse, I mean look at any failing bank in 2008. Most lined their pockets and got out.
@@samuelrogers8506 that's what the OP said
Yeah it's not so much a golden parachute as it is the founder never being on the plane to begin with
@@BonJoviBeatlesLedZep yeah... its like they are on golden yacht, while others being on titanic
They were paid in celsius tokens and were rewarded more later down the line if they chose not to claim them.
After a lifetime of selling garbage with big words, I guess the owner Alex just strike it rich with Celsius, basically paying himself a huge salary and bonus and stealing some of the $25B from his customers.
Can't stop an AHDD Jew...
Lol’d at the “inconvenient truth” reference. Nicely done!
So Robinhood’s lack of liquidity back in the day is CHILD’s PLAY compared to this.
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing what you're doing.
Coffee has saved me from making so many shitty investments thanks Coffee
Hey big boy….he hasn’t talked about me. U interested in a defi futures opportunity where we breed doge with a pug?
@@philmckay9973 🤣
@@philmckay9973 nah, but your moms could be a whole different story…..😉😉
A broken clock is right twice a day!!!!
@@pdcdesign9632 A working clock is right roughly once week
it's funny when someone ask "how?" these people never have a answer, i think that's a big red flag
It prints money because... it just does, okay!?
Always the best tell to see if you're going to be involved in some Bs...
Asking questions is frowned upon.
If you can't ask anything, but you're still supposed to trust the process...
RUN!
"Wishful thinking"
I wish people would ask “how?” about the FED more often.
I remember someone asking an Enron executive how they were making so much money and he couldn’t answer….
i honestly had a second of going "wait wtf i still use Celsius its just the normal temperature are we using kelvin now?" before i realised it's you coffee. keep up the good work
You're doing some impressive work, keep it up.
You're a good man coffee, converted all my crypto (including Cell) into fiat right before the mayhem started thanks to your influence.
glad u got out on time bro
You escaped with your life, good job man.
I adore this channel. The whole Antiscam Cadre (Coffee, Spencer, AttorneyTom, etc).
Changing lives with your work. Seriously.
That and trying to learn from my mistakes and poor attitude with people.
Great video, thank you! I luckily pulled all my remaining funds out of Celcius just a day before they froze the assets. I'm curious if there are any similarities between Nexo or Blockfi and Celcius. I really hope they don't all fail.
Great video. I saw the guy give a 30-minute presentation & he spent the entire time talking about how well their token price was doing. That's it.
Is it bad that I love this content? Like how many times can you say told ya so.
Lol it never gets old.
scha·den·freu·de
/ˈSHädənˌfroidə/
Learn to pronounce
noun
pleasure derived by someone from another person's misfortune.
"a business that thrives on schadenfreude"
I love this chaos.
Celsius: "We're not a bank"
Also Celsius: *Suffers from a bank run*
Great to see Upper Echelon collaborating with you on this video!
i fully thought he was gonna talk about how celsius, the temperature was falling off LMAO
Same lol
8:06 I remember this vividly. Peter was tearing into him (Peter does that to everyone lol)
Just a bit of observation:
When CoffeeZilla switched to the interview footage, and CoffeeZilla was asking the interviewee question, sometimes my mind confused and think the interview was finished and we are now switching back to the main video.
It would be nice to have some sort of visual reference to let us know we are still in the interview footage or the main video, like color hue, or come frame around the video, something enough to let us immediately know we are not on the main video.
I like the idea of "come frame" lol
An audio cue is good too. Like a change of audio quality. That way you don't have to be watching to be able to tell.
A wet sock screen wipe would be perfect
the headset was obvious
@@inthefade change of audio quality? Did you hear the anonymous source ? Horrible audio quality.
❤️❤️❤️ thanks bro
I'm so glad you bring up a short clip of Peter Schiff.
Love that guy
Always ALWAYS do your research no matter how good their advertising is, or how good they are talking about it(its literally their company to generate them revenue, of course they will speak greatly about it). Be safe!
Excellent deep dive. Like the longer videos when there's this much history. This is a big story with an even bigger EGO. GO GET EM COFFEEZILLA
Now that the SH*T HIT THE FAN, all these "insiders" are coming out with their stories.
Where were they last year when the market was good in October-November?
Oh yeah, they were making sick money being the ENABLERS that they are. This keeps repeating
itself and no one goes to jail just like the 2008 Recession. 🙄😬
The laptop/sand rant made me sub immediately. These ppl gotta learn.
I saw this video pop up on my feed and was dumbfounded upon ready the video title as everyone I know and I still use the Celsius scale every day. Didn't realize this was about a crypto scam called Celsius...
The dude is just the finisher of the goals. Real top notch. Magisterial. Love your work Jacksontechie!. Keep doing what you're doing.
Every year companies try to recreate bitconnect in a new package! It always ends the same.
A huge success.
I've watched enough Coffeezilla that I had a "rich people don't want you to know this passive income trick!" Ad. Hilarious!
Allow me to introduce you to my course.
Congratulations to me on my successful withdraw, fleektoolz was able to make my withdrawal from Celsius within 2 hours I'm so lucky to have come across this guy his recovery skills is ethical
You can massage him on Instagram
Bitcoin at 17k now!! Holy cow, I have a feeling Coffee is going to be swamped with all the content this crash is going to produce. Keep up the excellent work!
Keep stacking sats bro.
(upside-down flaming rocket emoji)
I can't wait to buy as much of it as possible, bitcoin ain't going anywhere except my digital wallet
@@enochian7133 famous last words my friend, godspeed
@@tomcads1604 bruh it was 50k like 6 months ago lol, if you can invest money you don't need long term its a great investment.
Lovee seeing upper echelon gamers here, watched his video before they shutdown.
As usual awesome job Coffee
Very instructive. A very good advice to people lost money from this. When you see suspiciously high returns ask yourself the question. "Where does the money come from?" If you dont have convenient answer to that question you are getting scammed.
Terra and Anchor was worse.
What really sent me was the mention of Gold having "returns." It's a *metal.* It sits in a vault and looks shiny. Having a brick of gold does not, in any way, allow you to make more gold. You might have a net gain when you finally get rid of it, you might have a net loss. That's not up to you, that's up to whoever wants to buy it off you.
This new camera game is fire, coffee!
I love that you put that clip with Peter. He called it long before celsius imploded