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Before Celsius filed for bankruptcy last month, the company seemed optimistic about its future. In a June 7 blog post titled “Damn the Torpedoes, Full Speed Ahead,” the crypto-lending firm took aim at the “vocal actors” who were “spreading misinformation and confusion.” It assured its customers that it was “online 24–7” and said it was continuing to “process withdrawals without delay.”
Celsius—which offers bank-like services for crypto enthusiasts, including the chance to earn eye-popping interest rates by depositing digital assets and the ability to borrow using crypto as collateral—boasted that it had “one of the best risk management teams in the world.”
“We have made it through crypto downturns before (this is our fourth!),” the company assured consumers. “Celsius is prepared.”
“I can’t tell my wife and kids our retirement and dreams have been stolen from us.”
Five days...
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