Reply to post: Re: the company was allegedly a Ponzi scheme like some other crypto initiatives

Celsius feels the heat: Ex-CEO arrested, watchdogs line up to sue bankrupt crypto biz

Michael Wojcik Silver badge

Re: the company was allegedly a Ponzi scheme like some other crypto initiatives

Challenge any one to explain exactly how it isn't a Ponzi scheme. They can't.

There are many examples of cryptocurrency fraud which are not Ponzi schemes. Not all fraudulent practices are Ponzi schemes, and reducing everything to one is simply lazy thinking.

Celsius does appear to have been running a Ponzi scheme, particularly in their lending business and issuance of the CEL token. But they also appear to have been conducting other fraudulent operations which were not Ponzi schemes, such as market manipulation and making claims of excessive returns.

If we're going to criticize the cybercurrency industry – and, sure, do so, because it's a pile of shit – we could at least try to do so accurately.

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