BREAKDOWN: Independent Examiner Excoriates Celsius as a Ponzi
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 31 January 2023
⏱️ 16 minutes
🧾️ Download transcript
Summary
A newly released 476-page report shows the company was using customer funds to buy CEL.
On today’s episode, NLW breaks down the newly filed report from the Celsius Network bankruptcy court’s independent examiner. The extremely thorough document argues that not only was Celsius engaged in extremely problematic practices, but that numerous employees raised concerns around them. The show also covers the debate around an independent examiner in the FTX case.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:53.8 | Welcome back to The Breakdown with me, NLW. |
| 0:59.0 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:05.0 | The breakdown is produced and distributed by CoinDesk. |
| 1:10.2 | What's going on, guys? |
| 1:11.3 | It is Tuesday, January 31st, and today we are talking about the new independent |
| 1:15.8 | examiner report coming out around the Celsius bankruptcy. |
| 1:20.0 | Before we dive into that, however, if you are enjoying the breakdown, please go |
| 1:22.9 | subscribe to it, give it a rating, give it a review, or if you want to dive deeper into |
| 1:26.3 | the conversation, come join us on the breakers discord. You can find a link in the show notes or go to bit.ly slash |
| 1:31.7 | breakdown pod. All righty, and a quick note before we dive into today's topic. I'm sure at this |
| 1:39.2 | point you have heard about ordinals, which is the quote-unquote controversy of NFTs coming to Bitcoin, or perhaps |
| 1:45.7 | re-entering Bitcoin as a better way to put it. I think that the Ordinals conversation is absolutely |
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