With the next leg, down in crypto starting, the FUD surrounding Celsius turns into a reality with the latest announcement from Celsius.
There is a saying, if you don't understand the yield, you are the yield and this seems to be coming true now for those stuck on Celsius. The importance of Celsius cannot be understated. They are connected to many retail investors indirectly through cooperation with many commercial bank customers.
This problem with Celsius comes just one day after this tweet from Alex Mashinsky:
That didn't age well. Those who sold the rumour and managed to clear out of celsius in time have learnt an important lesson on owning your own keys.
There is more fear and FUD in the market with many fearing contagion may spread to Nexo.
Bitcoin has only fallen into the $25k zone and we are already seeing more carnage in a matter of weeks since the collapse of Luna. The clean-out of the crypto markets seems to be well underway.
Thanks for reading.
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