Celsius Has Been Insolvent Since 2019

Centralised cryptocurrency exchanges and their hidden policies have always been not far away from the banks and the government that crypto was supposed to protect us from. The government and the bank officials that are working so hard to impoverish their customers and citizens are not so different from most people that ventured into crypto and created crypto exchanges. They saw an opportunity in crypto and are going to try and milk it to the bream, we have seen it happen during the ICO eras, we are seeing it happen right now as the bearish market and luna crash have exposed some of these companies.
source Its only few companies that I think is working fairly to make the world a better place through crypto, but other companies like celsius obviously wanted to capitalise on the full advantage and opportunity of crypto. If you have been following this celsius case you will notice that celsius has been nothing but a Ponzi scheme, sort of. It seemed that the company has been insolvent as they have not made any profit since may be 2019, making a lot of unrealised losses. This means that the money they have been paying investors for storing their assets on their platform is coming from where? Are you smelling Ponzi? If the company is in big loss but still paying out investors, where are they making money from? The celsius lending program has always seemed fishy to me, because as a person that questions the source of money, I have always questioned the source of celsius interest. That is one of the reasons I removed my assets from it in 2021.

I have tried using Kucoin lending program and it made more sense to me. Kucoin only starts paying you incentives when people borrow your money. You can put it in the lending section and it stays there for days until you find a person willing to borrow the money from you. But Celsius pays you for leaving your money with them, and pays you more for locking it. This has attracted more people to invest on their platforms, they were also accused of artificially pumping their token to lure people into staying with them.

As a matter of fact Celsius admitted to not have been making money in the past to pay interest, to sustain the investors, new ones were probably robbed off to pay old ones. Just day another day to remind you to store your assets in a DEX wallet, this way you dont have to worry about things like this.

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