Why the Celsius Examiner Report Shows 'a Complete Disaster in Almost Every Way' - Ep. 451

Unchained

Laura Shin

Tech News, Business News, News

4.6 • 1.3K Ratings

🗓️ 3 February 2023

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Following the release of Celsius' examiner report, Kadhim Shubber, an investigative reporter at The Financial Times, dives into the controversial business practices of the lender, how the company inflated the CEL token, the use of customers' money, and much more. Show highlights: how Celsius used investors’ money to prop up the price of CEL the reasons why Celsius inflated the CEL token where the money to pay rewards to investors came from blatant misstatements from Alex Mashinsky and how his team tried to cover him how the company leveraged Bitcoin to fill the hole in its balance sheet who was responsible for Celsius' shady business practices Celsius' poor investment decisions whether Mashinsky is at risk of facing criminal charges Thank you to our sponsors! Crypto.com Guest Kadhim: Twitter Links Final report of Shoba Pillay, examiner Financial Times: Crypto lender Celsius misused customer funds for years, examiner finds Unchained: 7 Revelations From Celsius’ Examiner Report CoinDesk: Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner The Block: Tether denies it borrowed $2B from Celsius, as described in court report Blockchain News: Celsius' Official Creditor Committee Denies Rejected Bids Ram Ahluwalia’s take on the Celsius bankruptcy examiner report Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Hi everyone, welcome to Unchained, your new hypersurps for all things crypto.
0:08.0	I'm your host Laura Shin, author of The Crypto Beans.
0:11.6	I started coming crypto seven years ago and as the senior editor at Forbes was the first
0:15.9	mainstream media reporter to cover cryptocurrency full time.
0:18.9	This is the February 3rd, 2023 episode of Unchained.
0:22.7	If you're enjoying Unchained, please consider signing up for Unchained Premium for exclusive
0:26.8	interviews, subscribe or only chat group, and transcripts of the shows.
0:31.5	With the Crypto.com app, you can buy, earn, and spend crypto in one place.
0:36.2	Download and get $25 with the code, Laura, link in the description.
0:41.2	Crypto moves at lightning speed.
0:43.2	For the latest crypto updates, be sure to subscribe to our daily newsletter at UnchainedCrypto.substac.com.
0:50.0	Again, that's UnchainedCrypto.substac.com.
0:54.2	Today's guest is Catom Shoeber.
0:56.2	Investigative reporter at The Financial Times.
0:58.8	Welcome, Catom.
1:00.3	Thanks for having me on.
1:02.3	This week, the Celsius Independent Examiner, Shoba Pillay, dropped her 476-page report
1:09.2	on the failed crypto lender.
1:11.3	And it was quite the bombshell.
1:13.9	What were your main takeaways from the report?
1:16.7	The main takeaway from the report is that Celsius was a complete disaster.
1:23.7	In almost every way, imaginable, and almost from the very beginning, in a way.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.