The question of Celsius as a Ponzi, Binance's $500M contribution to Twitter, and MicroStrategy's Bitcoin strategy: All this and more in this week's Crypto Biz with forgeforth_.
on July 13. Now, the federal judge overseeing the bankruptcy proceedings has ordered the case examiner to determine whether the company was operating like a Ponzi scheme. Disgruntled Celsius customers have made a strong case that the company’s business operations met the legal definition of a Ponzi. After all, it didn’t take long for Celsius’ business model to crumble under volatility. This is one case we should all be monitoring very closely.
In this week’s Crypto Biz, we once again revisit the Celsius debacle. We also explore Binance’s investment in Elon Musk’s Twitter deal and MicroStrategy’s renewed commitment to Bitcoin.In finance, a Ponzi scheme is a fraudulent investment practice where returns are generated and paid out to existing investors using money from later investors.
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