@TheRealPlanC@SimonDixonTwitt Once ETH PoS transition is completed in August and Celsius can liquidate its large stETH position in September, I believe the situation will improve and even maybe some form of normality can be restored. In the interim it just needs to keep its head above water.
@coryswan @investvoyager @BlockFi@CelsiusNetwork It seems Celsius is saving themselves without external help. I’ve been watching them pay off their debt the last few days. They have shown character during this crisis so I sincerely hope they pull through.
@CoinDesk@FTX_Official@CelsiusNetwork@JamieCrawleyCD This BS straight from the hornets nest can be safely ignored. Remember that FTX has a vested interest in seeing Celsius fail. This is the next level of FUD from an entity with little integrity.
@Colwellinvestor They spread FUD to create a run on the bank. Obviously Celsius has most investor assets tied up in investments to generate returns. Low liquidity is expected in fractional reserve banking. The shorts wanted to profit by putting others savings at risk.
@Colwellinvestor I’m not sure you understand what fractional reserve banking is, why it’s required to generate revenue for customers and what a fud induced run on the bank means for liquidity.
The new funding rate for CEL-PERP on FTX is -0.1427% per hour. Meaning:
((1+0.1427%)^(24×365)−1)×100 = 26609418% APR
What sane person pays 26,000,000% APR?
That's what the shorts are paying to keep the price at the current level. #CelShortSqueeze#CelsiusNetwork
🍋Squeezing Fact:🍋
FTX has ~6 million CEL at the moment. Of this, 4.26M are already shorted at an hourly interest rate of 0.0612% atm (=57.64% in one month)
Thanks compound interest, the entire remaining balance would be used up in less than a month, WITHOUT A SINGLE NEW SHORT!
@coryswan@BitTradr Celsius has most of the users assets locked in investments; that’s how they generate returns. When you induce a bank run on a fractional reserve banking institution, obviously it’s going to create a liquidity problem for them.
#Celsians please remember they are doing everything they can to destroy your lives, they are relentlessly attacking @CelsiusNetwork and shorting $Cel token.
Please continue to fight, buy $Cel & remove off exchanges. We can win if we stick together ❤️
#Celshortsqueeze