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Celsius CEO Alex Mashinsky has entered a guilty plea in his criminal fraud trial, which was scheduled to begin in about two months. His Celsius cryptocurrency platform collapsed in July 2022 after it couldn't meet customer withdrawal demands. Its failure was particularly devastating because it had actively marketed itself to customers as safer than banks, regularly telling customers that "banks are not your friends".
Many people believed that because Celsius was based in the US, it was carefully regulated and therefore safe. Letters written to the judge in the bankruptcy case revealed the extent of the devastation to people around the world, some of whom had their entire life savings or retirement money on the platform. I published some excerpts (https://blog.mollywhite.net/celsius-letters/) back in July 2022.
@molly0xfff What I thought this post was referring to, in order:
1. The temperature scale — dismissed when it was "based in the US."
2. The energy drink — dismissed when I reached the word "platform."
@molly0xfff My point being, I'm glad you're here to call these people out, because there are more every day. <3