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The Celsius collapse TL;DR - CEO designed it as a massive pump and dump & used clever legal language to protect himself from persecution while getting away with tens of millions.
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Post is by: Pristine_Sorbet_6445 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1r01x0e/a_stablecoin_backed_by_the_three_scandinavian/ *Note: I wrote this post myself first but realized the structure was all over the place and barley made any sense. So in hopes of you guys actualy understanding what im trying to say I had AI summarize my thoughts and ideas into this post. The core idea and all the points are mine tho, just cleaned up so its readable* Ok so I usally dont post on reddit, mostly just lurk but me and a colleague have been going back and forth on this idea and I feel like we need some outside opinions. Were not launching anything tomorrow, this is very much still in the “are we stupid or is this actualy something” phase so be honest So basicly we were discussing the stablecoin market and how its almost entirely USD denominated. USDT USDC etc. And he just goes “why isnt there one for scandinavian currencies?” And from a macro standpoint it actualy makes alot of sense The nordic economies have some of the strongest fiscal positions globally. Norways GPFG sits at roughly $2 trillion, largest sovereign wealth fund in the world. Virtually zero net public debt, consistant current account surpluses. Sweden is basicly already cashless, around 90% of transactions are digital. Denmark has maintained one of the most succesfull currency pegs in modern history, DKK to EUR via ERM II since 1987, held perfectly. After Bulgaria adopted the euro jan 2026 denmark is the only country left in ERM II. All three countries hold AAA ratings from all three major agencies So we came up with **Trekronor** ($3KR) Single stablecoin pegged to an equally weighted basket of NOK, SEK, and DKK. Esentially a synthetic scandinavian currency unit, think the old ECU before the euro but for the nordics and on chain. Name comes from “Three Crowns”, symbol of scandinavian unity since the kalmar union 1397 Why its diffrent Most stablecoins give you single-currency exposure to USD, meaning full exposure to fed policy, US fiscal risk, dollar inflation. $3KR spreads across three independant monetary regimes with low correlation to each other and to the dollar. From a portfolio theory standpoint thats objectively a better risk-adjusted position Not totaly uncharted territory btw The closest thing anyones done in the nordics is Monerium, an icelandic company that launched EURe back in 2019, basicly the first fully regulated euro stablecoin on blockchain. They got an e-money license from the central bank of iceland and have processed over €6 billion in volume. And just last year SEB (one of swedens biggest banks) joined a consortium to launch a MiCA compliant euro stablecoin expected sometime 2026. So theres clearly institutional appetite for this kind of thing in the region. The diffrence is nobody has done it for the actual scandinavian currencies themselves, its all euro denominated. Thats the gap were looking at Use cases ∙ Nordics-native store of value without FX risk against home currencies ∙ Diversifaction for holders overexposed to USD stablecoins ∙ Cross-border settlement for intra-nordic trade ∙ Global access to scandinavian stability without foreign bank acccounts Under MiCA this classifies as an asset-referenced token (ART) since its pegged to a basket rather then single fiat. Over 50 MiCA licenses granted across EU as of late 2025 so the regulatory path is relativley clear Ticker: $3KR. Self explanitory Before you rip us apart – we know Look were not pretending we have all the answers thats literally why were posting this. But weve thought about the obvious pushbacks ∙ “nobody will use this over USDC” – yeah the network effect is real, were not trying to compete with USDC for global dominance. The play is more niche, nordics focused first, people and businesses that actualy operate in these currencies daily ∙ “liquidity in three small currencies is a nightmare” – yep. NOK SEK DKK are not deep markets like USD or EUR. Reserves in three currencies means 3x the complexity. We know this is probaly the hardest practical problem ∙ “ART classification under MiCA is harder then EMT” – also true. More capital requirements, stricter governance, ESMA oversight. Its not a walk in the park but its also not impossible, the framework exists ∙ “Monerium has €6B volume but tiny market cap so regulation ≠ adoption” – fair point honestly. Thats exactly the kind of thing we need to figure out before going further Were not here to shill anything. This is genuinley us trying to figure out if theres something here or if we should move on. So yeah, poke holes in it thats what we want *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*
Maybe tune it, throw some bigger turbos and cooler in there. ECU tune , and you have basically a turbo power wise. And those are awd to accommodate and put that power on the asphalt.
Surely there will be a way to reprogram the ECU to do better than that on decent set of tires! Way to go old boy!!!
Do you even understand what the ECU is lol why are you talking about profits
Coffeezilla video on it https://youtu.be/1nVG8PF4ECU
Literally it’s possible, download Navigation maps, ECU programs
Coffeezilla video about Celsius: [https://www.youtube.com/watch?v=1nVG8PF4ECU](https://www.youtube.com/watch?v=1nVG8PF4ECU) Pic is of Alex Mashinsky
"You call it an ECU, we like to call it the ghost of Henry."
https://youtu.be/1nVG8PF4ECU https://youtu.be/Sm5OeO-yr68
I'm so not a hacker/software guy at all, but the only time I've personally seen a hex editor used is for car ECU software/performance tuning. It's interesting hearing how it's used for other stuff haha.
tldr; Two Tesla car owners have revealed in an interview that they mined crypto assets using their hacked-out electric Tesla cars on January 8. San Francisco-based Siraj Raval, who is the owner of 2018 Tesla Model Mannequin 3, mined up to $800 a month in crypto assets with his hacked car. Another Tesla car Wisconsin-based Chris Allessi, mined bitcoin. Car hacking is the manipulation of the code in a car's electronic control unit (ECU). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
EUR (ECU) was the first stable coin (obviously not crypto though), but they went and pegged the Euro to a basket of currencies at fixed rates in the 90's.
Sigh. 15 years too early. No smartcontract available yet that transfers the crypto and also updated the car ownership info on the blockchain, allowing the cars ECU to download the transaction and know that the new owner is allowed to start the engine.
Its going to explode.. surely ECU will also follow this month is going to be bullish. Go grab and fill your bags with ECU ADA MATIC...
Same thoughts. But I don't just stick to well-known coins if I can find undervalued coins with great real-world application. ECU may not be well known but they're a great deal for investment.
It's kinda difficult for me to buy btc before, i'm just starting so it's expensive for me. I started looking for cheap alts but very good platform. I stumbled on ECU and so far i'm having no regrets.
Yes, don't be confused with these two stuff even their use cases are way too different! Anyways, make sure to add $ECU tokens from ECOSC in your bag. It will bring the oil and gas industry to the next level as it aims to use blockchain technology to achieve a better system of the supply chain. Ps: they are having a meme contest. More deets here 👉[ECOSC](https://twitter.com/ioecosc/status/1433829543547060229?s=21)
Might as well include ECU token from ECOSC.It has the goal of improving the oil and gas industry by integrating blockchain technology. It's a good concept for me since it has been proven that blockchain can make things easier. On top of that, we are consumers of oil and gas so yes, we must give importance on this project.
Totally agree! That;s why ECU is planning to partner with VeChain because it features smart contract executions which makes the transactions more faster and secure.
Nah they are just a corrupt organisation above other corrupt government. People don't want war government do. I remember millions marching against the war in Iraq and Afghanistan didn't matter government still sent our troops to die over there in wars we should have had no part in. ECU just as corrupt too. Filth
Local news here in the Triangle just did a story on Will Clemente. Didn’t realize he is an ECU student. But the story was 100% btc focused.
True. I believe that blockchain technology is a big help to make a better system. This is the reason why I'm rooting for ECOSC. They will also use blockchain tech in the global commodities industry. Their focus as of the moment is the trading of oil and gas but I'm pretty sure that they will include other commodities too! ECU is now on probit and coinsbit
Yeah so better to hold my ADA, XRP, DOGE and ECU I am sure it will pump hard in the future.
Its a token from ECOSC called ECU. This project has a big potential in the crypto space. It will upgrade the oil and gas industry by having a VeChain Blockchain Technology implemented in the system. A better way of trading of oil and gas!
My fave as of the moment is ECU form ECOSC. The project is all about creating an ecosystem for the Global Commodities Industry with blockchain technology to eradicate the traditional structure.
Same with the energy sector, ECU is made to replace the traditional way of payment system. They wanted an easy, transparent, and simplified supply chain through blockchain.
Both are good good but make sure to handle it well. For the crypto, better invest on ECU from ECOSC. Its token for oil and gas which will be used as a payment in the ecosystem created by ECOSC. Blockchain system will be applied to enhance the supply chain efficiency. I can see the potential of this project bc its so timely and relevant
Speaking of commodities, i think its about time that they will adapt to the modern society. Good thing we have ECOSC $ECU now. Its a token for oil and gas that will create a comprehensive ecosystem for the commodity/ies industry to be more efficient, have faster transactions and lesser risks. This is what we need now.
What happen in Europe was different, first the central bank start paper money test ECU after a lot of years tgey build euro and government make law to agree and 1 year transition, after that the only legal tender become the Euro.The law impose this and was very fast the adoption.I mean the law on legal tender can make very fast adoption.
I agree with your sentiment here but the reason crypto has value at all is because the code is the authority. The US Dollar has value because there’s a military might that will topple any contender to the dollar. There’s no central authority for cryptocurrency outside of the code and so understanding the basics of how it works is more important than understanding the mechanics behind the authority for FIAT. I like to think of it this way: to drive a car (safely and effectively) you need to have a basic understanding of all of the parts that you interact with. The door, the steering wheel, the accelerator, brake pedal and gas tank. You need to understand in a basic sense what is represented on the dashboard (speed, odometer, temperature sensor, fuel gauge, tachometer). You don’t need to understand the exact details of how each part works to operate the vehicle; so put down your chemistry book and don’t sweat it if you didn’t pass physics to understand levers and leverage. You don’t need to understand the code for the ECU but you do need to trust that it was coded with care and attention. If you want to use cryptocurrency you need to have a base understanding of how to interact with it, not necessarily how it works. This means you need to know what to click, when to click it and how the currency benefits you. It’s common for people to try and apply their new understanding in situations that don’t always call for it and that’s because we often don’t ask ‘why?’ often enough. For crypto, the question of why is near front-and-center because that’s the driver for its value. It’s censorship resistant because it’s decentralized and it’s decentralized because the cost of acting malicious far exceeds any benefit for doing so. That’s because of the one-way-hash feature that cryptography enables and without it, it’s vapor ware. So let’s all recognize that it’s not about one or the other (how or why) but about a mix of both. For some the interest in ‘how’ will spark curiosity leading to innovation and for others it will be the question of ‘why’; there will be approximately 0 people who are only interested in one of the questions and not at all the other. Try to answer both when you’re speaking to an audience.
Montanota, ECU - winter Corwin Springs, MT - summer You?
Yup. It'll completely wipe all my electronic wage payments and fiat bank balance out too. As well as my reserves of gold that I invested in that are not stored by the ingot in my house. Seems like my motorbikes in the garage are in fact the investment I always claimed they were. Guess we're back to burning good old fossil fuels, as the ECU's for the electric bike got fried too....
> If you are interested, you can google for more information, but it has to do with public/private key cryptrography, and there is no way to reverse engineer the private key. Not sure what private public key pairs would have to do with it. You counterfeit product is just duplicating the public key which points to the VeChain. Sure you could have something like a RSA token but then isn't the entire security model dependent on the secure element? What extra security is afforded by the VeChain one the private keys are dumped from the Secure Element. >You also have scantrust barcodes, which are difficult to counterfeit without high end printers. So on a lower price product, something like scan trust would probably be good enough. Once again isn't the security system the scantrust barcodes then? If they are broken what extra security am I getting though VeChain. >And yes, you always have the issue of garbage in, garbage out. So it ultimately depends on if you trust the person keying in the info, but in the case of BMW, I would trust a BMW dealership if they say that a specific work was performed at XXX miles. So what extra security am I getting here? Why couldn't each dealer just sign a mileage log with their private key and send it to BMW's servers and upload a copy to the ECU?
Ye I have a bunch of beefs with if I can elaborate on after I come back from the gym. I'll copy and paste this for now: What problem does it solve that mySQL cannot do better? As far as I understand you have VeChain foundation authorizing master nodes. So you have a central authority you are trusting. Why not have a central authority and 100 companies running mySQL databases. Simply propagate blocks on them for much cheaper. Other problem include the garbage in garbage out problem. Case in point is the BMW mileage app. Modify the speed sensor the ECU and it doesn't matter the data is written to a block chain because you have garbage data coming in. The fact you can't actually tie a physical item to the chain and trying to do so would give consumer false confidence in it. Rising costs the more data you need to write, blockchains are really expensive and slow.
It's about as effective as putting a speed governor on a car. People have never figured out how to write that out of the ECU, right?