you dumb bastards ........

I have to say in all fairness are some of the dumbest bastards........  and now  you are crying like little  bitches ......i said this a long time ago.......... its a  scam  .....but as  always........... the greedy......... the stupid  .....tha'ts  what you are  ..........greed is stupidity .......its a risk  everyone  knows  its a risk................ and lot of  people  knows  who owns  it  ....i have  no  sympathy for  greedy pricks ......its all good  when you are driving you  lambo .....but  then you cry...... when you lose it all .......well boo hoo  fucking  sob ........if you do not  know  who  owns   bitcoin  then you  are a  fucking putz........i have not  one  gram of  sympathy for your  greedy dumb ass

Celsius becomes latest crypto firm to file for bankruptcy in last two weeks

Yahoo Finance’s David Hollerith joins the Live show to report that cryptocurrency company Celsius has filed for bankruptcy.

Video Transcript

BRIAN SOZZI: All right, more trouble in crypto. US-based crypto lender, Celsius is filing for bankruptcy. In June, Celsius froze withdrawals and transfers citing extreme market conditions. This also comes just one week after another crypto lender, Voyager Digital declared bankruptcy and paused all withdrawals and deposits. Let's bring in Yahoo Finance crypto reporter David Hollerith on this. David?

DAVID HOLLERITH: Brian, crypto's unfolding financial distress is increasingly happening in the courts. So the Celsius Network is actually the third crypto firm counting Voyager as you mentioned, and Three Arrows Capital, the crypto hedge fund that has recently blown up, to be filing bankruptcy. Now just a little bit of info on Celsius Network, they amassed more than $20 billion in funds last year by offering up to 18% on high-yielding interest crypto accounts. And given the market downturn, Celsius sort of earned returns on the-- for their customers by offering-- by basically making a lot of highly leveraged DeFi trades.

And during the-- and with the shift in the market sort of, the-- these trades have gone south, and that's left a lot of customers sort of waiting for something to happen. And given the fact that Celsius has faced insolvency issues they've had to freeze customer accounts. Now, in the filing, they have 100,000 creditors, as well as $1 billion to $10 billion in assets, which are going to be split somehow.



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