An in-depth look at the Celsius platform, and breakdown the design of the business/ecosystem to understand what went wrong.
This is a description of what fiat would look like without FDIC, SIPC and all the other backstops afforded for the larger, gargantuan fiat Ponzi. You could say that the fiat USD has been incrementally unpegged since 1933, 1964 and 1971. Let’s call it “stUSD.”
Let these current events in the crypto markets be a presage to what’s in store for “stUSD.”
Great rundown 👍
Meanwhile, you have people like Raoul Pal at Real Vision making reccos on LUNA before it imploded, and they had Celsius on their platform to push their wares too.
Just one big pump-and-dump. Makes you wonder how many deep pockets were just setting up the pins before the liquidation bowling ball made contact.
What an amount of bullshit
sheeeeeeeeesh what a day in legacy markets and crypto land ; everything is pulled forward in these hyperconnected digital markets of ours ; months worth of trading happen in one week now and so maybe well find us a bottom sooner than later, with or without a Celcius collapse... i would hate to have to wait until the energy sector violently corrects (like a sub 100$ crude would do it) before that happens, but maybe this is our fate after all.... apropos of an inflation peak / CPI "rollover" ----> that was a false alarm folks; there is no damn peak in sight, and there wont be one until crude crashes
anyway, keep up the good work gents
Appreciate the timely overview and significant value add over the past month in tracking/signposting some of these events. Reading a bit about Maker and their liquidation auctions. Per their docs, believe this would be a ‘flipper’ auction to the extent it plays out. Should we essentially assume that this would be ~17.9k BTC of immediate sell pressure? Is there an order book of bids - or is there a way to see what the bid picture may look like in this scenario?