![]() ![]() It acknowledged a $1.2 billion hole in its balance sheet. Not so with Mashinsky, which is one reason Valkyrie declined to work with Celsius.Ĭelsius, as reported, has now filed for Chapter 11 bankruptcy protection. When he had asked these same kinds of questions to well-known crypto exchanges Gemini and Coinbase (COIN), he received solid answers. “He really wouldn’t ever give any details, and we tried to do due diligence on them,” but “so many flags came up” and “he just wouldn’t answer anything directly,” said McClurg. “We would ask them really simple questions like, ‘Who are your counterparties?’” McClurg said. McClurg met with Mashinsky several times. How do they get those yields? That’s the question asked repeatedly by Steven McClurg, cofounder and chief investment officer of Valkyrie Investments. Mashinsky explained that the differential in interest rates simply “shows how much these banks are stealing from you.” How was that possible? How could Celsius have “much less risk” but provide eye-popping returns? It sounded too good to be true. Read More: What Happens to Celsius Creditors if Crypto Prices Recover? Mashinsky assured viewers that Celsius posed “much less risk” than banks, but still managed “to deliver high-single-digit or low-double-digit” returns. ![]() Mashinsky, oozing confidence, wore the black HODL T-shirt as he explained the basics in an August 2021 interview with the influencer known as CTO Larsson. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |