Only up! Big returns! Set it and forget it! What could be better? Growing up in the 80s, for me it was late night infomercials. In the mid to late 90s it was tech stocks, YOU CAN’T LOSE. Mid 2000s it was real estate. I mean who doesn’t pay their mortgage? Housing only goes in one direction, right? The year 2020 kicked off a whole new bull market. Come one, come all, crypto is the future! Give us your funds, you’ll be rich!

On June 12th, 2022 in A memo to the Celsius Community, the company announced “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts.” DOH! History was once again repeating itself.

The more the company lost, the more the market dipped, the more desperate Celsius became. Their liquidity was required to make the weekly payouts to keep new marks investors, coming in. Investment firms like all good politicians are all about taking risks with other people’s money. Why risk your own money when someone else’s is so readily available? … Continue readingThe Celsius death spiral