Celsius facing insolvency issues might be new, but coryklippsten saw some red flags before many. We sat with the founder of SwanBitcoin to discuss the recent market collapse, Terra, Celsius, 3AC, and much more.
"Their loan books are opaque, their activities are opaque. [...] You're being way under-compensated for the risk," he explained.
Klippsten is quite skeptical that Celsius will be able to fully compensate users who are currently unable to access their funds on the platform.Klippsten describes Celius as a particularly stark case of bad risk management, pointing out that similar business practices are common in the space and they will be soon targeted by regulators.
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