The first episode in our series about the Cefi Apocalypse, we use the Chapter 11 filing from the Celsius bankruptcy to uncover the reality of Cefi.
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Episode 2 on YouTube:    • 🎧The Cefi Apocalypse - part 2: The Re...  

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"I created Celsius because I believe that we have to have a company that, uh, that basically puts a community first and creates a community."
"Unlike banks that do that and keep all the profit to themselves in the crypto world, we give most of the profits. So most of the yield back to the community." A. Mashinsky (CEO & Founder - Celsius)

These are the words of Alex Mashinsky, the founder and CEO of Celsius network a leading crypto lender that filed for bankruptcy in July, 2022. After suspending withdrawals Celsius is also known as a CEFI platform, a new type of financial player, mixing centralized and decentralized finance or defi.
Today, the 1.7 million users of Celsius are no longer known as community members. They are unsecured creditors facing Celsius in court, and it looks unlikely that they will recover their funds. At least not in full. sales use is not an isolated case. Other CEFI platforms, such as Voyager, Babel block five or vault run into similar trouble at the same time.

TIMESTAMPS
00:00 Teaser
00:56 Intro
01:57 About this episode
02:36 The rise of Celsius
07:36 What went wrong
08:24 list of activities
12:28 Origin of problems
17:28 The Cefi apocalypse
19:07 A darker side?
20:05 conclusion
21:10 Next Episode