CEL

cl3ft

CEL & FTT putting the shit firmly in shitcoin.

accseller8

Self custody - not your keys not your coins! Yay CB holds a f#ckton of bitcoin. Yawn - show me your BALANCE sheet. Without showing the liabilities ALL exchanges are a huge part of the ponzinomics that is crypto (your money IS the yield they are after). Exchanges are ALL one “bank” run from being the next Luna, Celsius or FTX. No exchange has enough liquidity to cash everyone out TODAY. Get YOUR money off their exchanges. As long as they have custody it is THEIR money not yours. Cheezy is looking desperately for capital. I’ll say it - the emperor has no clothes! Clearly cheezy is trying to fud deposits from other exchanges and platforms. Haven’t they been running a fee-less exchange for bitcoin this month? Why? Certainly not for YOUR benefit. Get EVERYTHING off binance. Ask yourself how they have been able to survive all the losses from their failed investments? They held Luna, TerraUSD, CEL, FTT - cheezy like sbf is NOT a genius - where did the money come from to cover all those losses? Your money is their yield, take your money or they will - last one holding the iou takes the loss! Stop being sheep, you’re getting fleeced!

Ofulinac

Also buy CEL for double the gains!

gnarley_quinn

>At one point offering 2600% APY for anyone who could lend CEL to close their short. Did anyone stop at this point, and think "something seems wrong here..."

dima054

Trade UST and CEL on FTX.

TemporaryScene1439

Which party are you at? The EOS, SOL, CEL, LUN, and FTT party?

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OMFGROFLMAO2

The same reason CEL is not worth 0, even though they filled bankruptcy.

New_Builder_7302

Same as the ratio of CEL to VGX

marsangelo

What the fuck. Alex was definitely on the phone with SBF saying “ya we’ll take your FTT token in exchange for our CEL token”

coinfeeds-bot

tldr; Bitstamp is set to disable new orders and cancel existing orders for all FTT and CEL trading pairs. Withdrawals of FTT will remain enabled after the deadline, but selling will be disabled on November 22 at 7 am EST. Most exchanges stopped CEL-related trading around three months ago following Celsius's bankruptcy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

IWillKillPutin2022

CEL too…

Engage_Afterchurners

USDC turns out to be a ponzicoin just like FTT and CEL

imadumbshit69

I, somehow, managed to only lose $100. A buddy said I should try out CEL, too lazy to move funds from cold wallet. Then with FTX, too lazy to transfer funds over. Luna, bought only $100 last bull run. Good thing I'm a lazy pos, I guess

IWillKillPutin2022

Likely due to lack of liquidity. No one wants to buy it. Plus some idiots hoping it will bounce back. Think CEL squeeze fanboys but with FTT

frumpydrangus

Red flags of a Ponzi scheme - High investment returns with little or no risk. 8% yield farm. - Overly consistent returns. 8% yield farm whilst S&P 500 is -20% YTD - Unregistered investments. $FTT, $CEL, $LUNA. - Unlicensed sellers. HQ in Bahamas. - Secretive or complex strategies. Insert fancy crypto words, “it’s backed by such a great team and the most generous billionaire!! Look, he’s young just like meeee!” - Issues with paperwork. Emails and tweets don’t make sense. - Difficulty receiving payments. Paused withdraws.

Simke11

Go all in on LUNC, CEL and FTT

Gmbziee

Bro, CEL short squeeze taught you nothing?

JoshuaB123

I think after the FTT, CEL, VYGR, and BlockFi implosions, I think more CEXs are doomed to fail, even if they aren’t insolvent. Why? Too much trust has been lost in less than 6 months.. and people who are smart will move to self custody, looking to exit these CEX tokens which will cause more contagion across the broader market. I think we will see more dominos falling in the upcoming weeks/months. It’s bound to happen at this point. Regulation is coming.

crohawg

Didnt CEL hire a former adult movie actress?

SuccessfulLowDev

So you’re saying my Luna/CEL/FTT/Shib/SAFEMOON portfolio won’t make me Uber rich?

nutfugget

crypto(.)com next. CRO crashing. just like when CEL and FTT tanked ahead of their withdrawal pauses.

sevaiper

There were plenty of leading indicators about FTX - their liquidity engine breaking with absolutely any volatility, every single one of their executives posting about their drug use on their own accounts, obvious incestuous trades between FTX and alameda, their role in artificially pumping CEL and getting wiped out by UST etc etc. This post, however, is complete nonsense.

ersleid

LUNC/USTC still getting pumps from time to time. CEL is still not $0 FTT will be joining them as degen coins 😂

klanh

>The coins are worth their expected future discount value on trading fees. If this is/was true then FTT would not be a security since discounts/rebates aren't considered profits. Moreover while I think this approach is decent when trying to evaluate such token it doesn't show the whole picture. Holding FTT also granted free ERC20 withdrawals ( another value generator ) and to my understanding was used as collateral in their futures market. Something like CEL is probably easier example of this kind of stuff. It had a hold incentive, though different from FTT ( "extra yield" vs collateral ) still IMO similar enough that we can make comparison between the two. If FTT's value was expected future discounts on trading fees then CEL's value would be expected future discounts on interest payments, since that's the only thing it could be used for. Celsius has been in bankruptcy proceedings for a good while now, yet CEL market cap is still at the time of writing roughly 140 million with 5 million daily volume. In what world does CEL allow someone to save 140 million bucks in interest payments at this point? VGX is in a similar position with roughly 90 million market cap. Both of these tokens should be at 0 according to that type of valuation. Those are just the easy examples of tokens, now throw in the fact that Binance's and CDC's exchange tokens aren't actually token, they are coins since they have their own blockchains and this stuff gets even more complicated. I reiterate again though, in my opinion these are all shitcoins that I have no interest in owning in any meaningful quantity. I'm simply arguing that their valuations aren't straightforward, party because crypto valuation metrics in general aren't "established".

akuukka

For some reason CEL hasn't either

ersleid

Same as CEL and Luna. Nothing, except for the ultra degens to hope for a pump and dump

AntDog

This is why FTT, CEL, NEXO, and other strict exchange/platform tokens aren't/weren't available to US retail investors directly from the platforms themselves - way too obvious to get hit as a security. I assume Binance.us feels okay offering BNB because of its gas fee usage on the BSC network, hence the coin has more utility.

scrubberduckymaster

I don't hold or like BNB but it has an actual block chain and uses unlike FTT or CEL or NEXO

ScienceSoma

They have automatic liquidations on over collateralized loans. Meaning, assets drop below 1.2x loan value, they liquidate collateral automatically. CEL's liquidations were manual. They already stopped allowing US clients to use the earn products in these C&D notices several months ago (Feb, I believe). This was old news the day it was released. Skepticism is warranted for all in this industry, but Nexo has survived this entire time despite the collapse of most in the space precisely because they are conservative with risk mitigation, have a good business model for lending, and attempt to proactively adhere to the everchanging regulatory landscape. I'm not a shill, but the fact that they're still standing in Nov 22 is itself a testament that they are doing something responsibly. They could not have possibly survived since May otherwise.

Ofulinac

If you shorted FTX, CEL or Luna you would have made more money in the bear than in the bull lol. "Fortunately", it looks like we might get plenty more good shorting options before the bear is done.

sevaiper

Not true, the Alameda connection was pretty unique and created a different risk profile for FTX. LUNA and CEL were just on face ridiculous, with FTX you did have to do a little digging and even then the idea that a profitable and huge exchange was this degen is insane.

partymsl

FTX was a 1:1 replica of what we had with LUNA and CEL too. Pretty predictable, we should have known better...

ioWxss6_bot

Not so surprising, actually. Everyone's talking about FTX and similar crypto mischaps, including CEL 🤷

SuccessfulLowDev

Surprise CEL appearance

Suspicious_Service93

At this moment in time, I would not personally be holding exchange-created crypto like BNB or CRO after seeing CEL and FTT go the way they went. But everything else, I personally have more alts than BTC/ETH but they’re projects I strongly believe in. Granted over the next few weeks I’ll be picking up a lot more ETH to stake and BTC, but I don’t think your alt spread is bad whatsoever

Roy_Playz

Same here! But I take it with a grain of salt. If you go and download the PDF from Armanio all it says is: "NEXO has the funds". Lol it almost feels like blind faith 😂 Now I'm also being a little pessimistic given I'm a Celsius customer... never held an CEL tho. NEXO is the only CeFi token I hold tho so I still have faith.

ReverendBlue

This is it. This is what all of us "veterans" of 2017 were alluding to, but in a way that no one quite believed it would happen again, just that it 'could' happen. And actually it's way worse. Last time we had bitconnect, which was a laughably obvious scam, and a bunch of random ICOs that no one remembers. This time we are seeing major institutional investors get wiped out and seemingly legit players turn out to be complete scams. I mean the signs were there every time, but nothing seemed to be worse than anything going on in tradfi. It's just MMT they said; cash is cheap they said. I wish we could dress our avatars up like some North Korean generals with badges from different scams that we survived. I managed to avoid losing anything on Celsius (besides some CEL), liquidated my CRO (4X gains on the bulk of it but some at a loss) and got off CDC, took a haircut on UST (Lost around $5K :'( , and lost a couple hundred bucks on my bag of ONE. Someone should start making little nft badges that you can buy with moons....I don't know if you necessarily want to advertise to the world that you've been had so many times, but around here they would be little badges of honour to show what you've been through. Anyways, stay strong everyone, and hold on to the lessons that you've learned, peace!

AtomicChemist

Dammit, I can't deposit my CEL in it.

astockstonk

Any token created by a company (CEL, FTT, etc.) is completely worthless. Never invest in these things

Concept-Plastic

had some funds in CEL, had some funds in FTX, am invested in SOL, AVAX. I'm the god of bad decisions, maybe I should start a blog where you all can inverse what i do.

xmjke21x

As I said before, 1 yr ago I started to build a bag of CRO and with the negative shit coming to light + exchange after exchange falling, I had to unload my bags. 1 hr Ago I got rid of my last CRO bag—the risk/reward ratio is way to fucking high considering that coin is very similar to CEL, FTT, so on. Feel so much better having my shit in my wallet not tied to some exchange token that can go poooooof in 24hrs!!

OneThatNoseOne

I'm not saying I ever like FTT necessarily but seeing it tossed in the trashpile next to LUNA, UST, VGX, CEL is still shocking.

Filmerd

CEL is to BNB is to FTX. It's all the same ploy for liquidity.

Filmerd

WHEN HAVE NATIVE SHITCOINS EVER BANKRUPTED "FINANCIALLY SOLVENT" CRYPTO FIRMS? The real question is if you actually trust that these kinds of tokens actually have any fundamental value. All you're doing is buying a tokenized security to fund the liquidity of the exchange. There's no long term value there, as I think has been illustrated time and time again with various exchanges going out of business because they over leveraged themselves with their own native shitcoin. The main issue is also that there is not nearly enough liquidity in crypto to prevent these kinds of insolvency situations when exchanges have so much of their value wrapped up into these security tokens they have the ability to print more of. If you want to talk about MONEY PRINTING, look no further than these exchange tokens. They're literally acting like they are the federal reserve unto themselves and recreating the same problems we have with the Fiat system. The irony is unparalleled in a system that claims to be a better version of the Fiat system. If you buy these tokens, you are supporting a money printer. Simply put. There's literally example after example of these exchange tokens creating liquidity problems. This is just the latest example. /cough Celsius CEL token is the same shell game as FTX token /cough

Far_Perception_3815

After CEL, self custody is my middle name

Mr_ToastMaster

haha I don't hold any, I just remember what happened to CEL and thought maybe I will have a chuckle in a month after this comment aged like milk. Who knows what will happen tho

Electronic_Quarter93

I see all exchange tokens at risk. VGX then CEL then FTT. Is CRO next?

hawkwind361

If we learned anything from the Celsius/CEL collapse it's this ain't over until some desperate idiots start rambling about short squeezing FTT 🤦

Concept-Plastic

I have forgotten about my assets in CEL, they also doxxed my information and holdings. FTX didn't go under, they faced a liq crunch and were acquired by Binance. I get your point though. I don't trust any exchange either now. I have transferred almost everything to my cold wallet.

Suspicious_Service93

I wouldn’t even say that. Just simply having most of one’s funds in an exchange-made token is risky, where they can create on their money printer however much they want and back it up on “good faith” and fractional reserves. We’ve seen it with CEL at Celsius and now FTX’s FTT. For the OP, I hope everything works out well for you in the end and, should you decide to re-enter the realm or not, have wonderful financial success down the road

Aquabloke

That's the whole thing, just like Celsius had most of its assets in CEL tokens and Alameda/FTX had most of its assets in FTT Tokens, Nexo has most of its assets in NEX tokens. It's exactly the same scheme. I thought that Nexo would be gone by July already but their native token kept up the illusion for long enough that they are solvent.

Vehement00

I think Luna's crash was just the beginning to the unraveling of the FTX because they are all interconnected via investments, loans, and staking in one form or another. SBF was running around trying to save CEL and and Voyager because he had a lot of money in them.

AliFC5700

In case anyone knows: If it's true that FTX have been naked shorting CEL for months, what will happen if FTX crashes?

britbongTheGreat

That's cool, but why feel the need to call people sheep for abandoning ship during a crypto 'bank run'? It's completely rational to remove your exposure to an asset heavily tied to a troubled exchange. It's an additional factor not present in any 'pure' (for lack of a better word) crypto. I would willingly baghold Bitcoin through turbulence because the worst that could happen is the price drops. For an exchange token like FTT, there is the additional risk of the exchange going insolvent that is not possible with something like Bitcoin. What would be the point of holding an exchange token for a defunct exchange? I guess we're learning that with CEL and Celsius but I'd personally rather not be one of the people with bags waiting to find out.

ioWxss6

...then I took LUNA, CEL and FTX to the knee.

bittabet

How is this playing out like CEL? FTX has been allowing absolutely massive redemptions for days now without any issues whereas Celsius starting doing weird shit to try and get more deposits and limiting withdrawals super quickly.

chintokkong

CEL mentions are counted though.

partymsl

Sad to hear all of those CEL sad stories. Especially as they were avoidable...

Vaevictis7

The same trick of Celsius with CEL. At least Alex looked like the crazy uncle you only see on Christmas but with money

anonymouscitizen2

Yeah unless those loans are customer funds from FTX, which is what people are speculating. Celsius did the same flywheel tactic with CEL to inflate their balance sheet, this is even larger.

anonymouscitizen2

Its even BIGGER than what Celsius did with CEL. The major question is wether these loans are coming from FTX customers funds? They probably are. SBF has been doing crooked shit since he entered crypto, he is a snake.

anonymouscitizen2

Celsius is older than FTX lmao. Celsius also did the same flywheel tactic to artificially inflate their balance sheet with CEL but FTT is an even BIGGER portion of FTX’s balance sheet than CEL was.

anonymouscitizen2

Aside from the fact leaked documents from FTX/Alameda shows that 8/14B of assets on their balance sheet is in FTT token. An amount of tokens larger than the current circulating supply and way to big to sell. This is exactly what Celsius was doing with CEL token, it’s called a flywheel and its used to make the balance sheet look good ON PAPER, but in reality the assets are illiquid trash. The Coinbase rumors never had a giant red flag like this.

marsangelo

I had posted bankruptcy court news about Celsius and it got removed because apparently it had something to do with $CEL which was at its limit (it didnt). Unless FTT token has a coin limit of about 45 then i dont get these rules at all

Wubbywub

CEL had multiple short squeezes during their downfall.

JadioGCity

Alright, lets go with that. Show me that FTT and CEL are the same coin, and i'll show you why they arent. Here we go. CEL is a lending platform, FTT is not. Your turn.

IWillKillPutin2022

I mean it’s not exactly a rumor that FTT and CEL are the same kinda shitcoin..

bakraofwallstreet

its remarkable how its playing out exactly like CEL, let's hope users don't get screwed

partymsl

If FTX truly fails then we have to buckle for a massive crash coming up. FTX is one of the biggest crypto exchanges, CEL and Voyager are like ants in front of that. As much as I hate SBF. I hope he gets this together for all the users.

JadioGCity

So, let me get this straight... 1. A slough of rumours regarding SBF/FTX come out (not disputing their legitimacy here) 2. People immediately begin to believe that FTX and CEL are the same thing 3. Bank run on FTX begins 4. Transactions take longer to process due to step #3 (how is anyone not expecting this?) 5. See step 1 This sub is fuckin' weird.

dirpydip

Sadly CEL | Celsius

juunhoad

There are already a lot of people shorting FTT, it will be to obvious so I'm expecting a short squeeze. Like at CEL for example, that one actually pumped hard.

IWillKillPutin2022

Honestly I don’t think FTX gonna win this won. They may not go under, but they aren’t coming out on top unless something nutty happens. FTX is putting the same scam with FTT and a few other tokens that they helped Celsius pull with CEL.

Vehement00

Didn't Alex Machinsky said something along the line "your funds are safe" right before CEL got liquidated? That phrase means so little in this bizz

IWillKillPutin2022

Not sure what you mean vaporware, but they basically did what Celsius did with CEL, but with FTT

Rht09

People exactly like you were saying the same thing about CEL right before Celsius froze and their ponzi was revealed. How much more warning do people need to not trust any of these exchanges?

IWillKillPutin2022

Yea. CEL was used to inflate Celsius’s value. Same thing happened with FTT

IWillKillPutin2022

Basically CEL but for FTX

ersleid

CEL still managing to pump despite all the shenanigans. Mashinsky competing against Do Kwon 😂