Celsius Network - Game Over for CEL?

23,231 Views · Posted 2 years ago

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Celsius Network is a P2P lending platform allowing users to borrow and lend cryptocurrencies. The system is based on the Celsius Network native token, CEL.

By using their cryptocurrencies as collateral, borrowers can easily have access to fiat currencies with a small interest rate without the need to sell their cryptocurrencies.

Lenders are paid an interest rate for the cryptocurrency that was deposited in their Celsius Network wallet.

Will Celsius Not Be Able to Honor Redemptions?
https://www.altcoinbuzz.io/cryptocurrency-news/will-celsius-not-be-able-to-honor-redemptions/

⏱️ TIMESTAMPS
0:00 Intro to Celsius Network
1:27 What is Rehypothecation?
4:10 Fact 1: Celsius lost 35,000 ETH on Stakehound
5:20 Fact 2: They lost $50 million in the BadgerDAO hack in December
5:45 Fact 3: Celsius has 288,000 ETH staked in an ETH 2.0 contract
7:02 Fact 4: They are raising money in a terrible environment
8:19 Fact 5: Celsius lacks liquidity
9:47 Celsius Co-Founder Responds
11:05 HODL Mode

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