Crypto

Crypto Biz: Was Celsius just a Ponzi after all? By Cointelegraph


Crypto Biz: Was Celsius just a Ponzi after all?

Crypto lender Celsius has been one of the biggest victims of the bear market. After halting withdrawals for months due to ‘extreme market conditions’, the troubled lender has officially filed for chapter 11 bankruptcy July 13. Now, the federal judge overseeing the bankruptcy proceedings has ordered the reviewer of the case to determine if the company was operating as a Ponzi scheme. Disgruntled Celsius customers have argued that the company’s business operations meet the legal definition of a Ponzi. After all, it didn’t take long for Celsius’ business model to crumble under the volatility. This is a case that we should all follow very closely.

In this week’s Crypto Biz, we revisit the Celsius debacle once again. We also explore Binance’s investment in Elon Musk’s Twitter deal and MicroStrategy’s renewed commitment to .

Judge orders investigation to determine if Celsius was a Ponzi scheme

Twitter monetization and free speech drove Binance’s $500M injection – CZ

MicroStrategy CEO Reiterates ‘Long Term’ Bitcoin Play in Q3 Earnings

Moneygram to allow users to buy, sell and hold cryptocurrencies through a mobile application

Before you go: why did you pump this week?