#CryptoCurrency #kleptocoin

Secretly manipulating the market for the gain of insiders? Using customer assets? In the #griftcoin industry? I am shocked, shocked I say!

https://www.reuters.com/technology/celsius-business-model-different-that-advertised-us-bankruptcy-examiner-2023-01-31/

Crypto lender Celsius propped up its token, benefiting insiders - U.S. bankruptcy examiner

Bankrupt crypto lender Celsius Network used investor money and customer deposits to prop up its own token, inflating its balance sheet while two of its founders cashed out millions, a U.S. court-ordered examiner report released on Tuesday showed.

Reuters

@juglugs

I've been lumping them together as #griftcoin or #kleptocoin, but you're right, there's a lot more diversity in the industry that ignoring.