It’s Amy’s turn, so this update’s over on her blog. [Amy Castor]
Covered in this update:
- Why is the price of bitcoin stuck?
- Celsius bidding process starts
- The examiner in Celsius could blow up the whole process, if (if!) Celsius turns out to have been Enron but on the blockchain
- Who owns crypto in law? Your keys, whose coins?
- Celsius equity holders can still just bugger off
- The SEC wants more time to object to discharge of Celsius’ debts
- Voyager proceeds towards selling itself to FTX US
- New York wants to investigate Voyager
- How 3AC screwed Voyager over
“I kept up the bluff, hoping that I might eventually hit upon some workable plan to pay all my creditors in full.”
— Charles Ponzi, The Rise of Mr. Ponzi
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Is it costing them something to keep up the price of Bitcoin, or can they just do this forever?
evidently, but not so much while the price stays down. As long as bagholders would realise a loss cashing out, they’ll avoid cashing out.