Tuesday, December 6, 2022
HomeTechnologyLark Davis withdraws $2.5 million before bankruptcy hits Celsius

Lark Davis withdraws $2.5 million before bankruptcy hits Celsius

On October 7, an on-chain cryptocurrency sleuth by the name of ZachXBT found that cryptocurrency investor Lark Davis withdrew $2.5 million from Celsius while promoting the platform. According to ZachXBT, Davis began withdrawing funds from Celsius before reports the company faces bankruptcy..

The accusations made by ZachXBT are partially based on a financial report that was made public yesterday by Celsius as part of the court proceedings involving that company’s bankruptcy. The identities and transactions of every Celsius user are included in the report, including those of former Celsius CEO Alex Mashinsky and his wife, who withdrew a total of $12 million from the site in May 2022. Former Chief Security Officer Daniel Leon is suspected of withdrawing 11 million dollars.

The majority of the controversy is centred on Davis’ alleged promotion of Celsius to his audience. This was revealed in a screenshot taken from YouTube, in which he is purported to have said of the company, “I like it too,” despite the fact that he may have had insider information that caused him to withdraw his money from the platform.

Following claims of pump-and-dump techniques made by ZachXBT before the end of September 2022, several members of Davis’ YouTube viewership have found that the findings of Davis’ withdrawals have added insult to injury.

Related Posts:

To get daily updates & trending news on crypto follow us on:

Facebook:- https://www.facebook.com/CryptoShrypto/

Instagram:-  https://www.instagram.com/cryptoshrypto_/?hl=en

Twitter:-  https://twitter.com/cryptoshrypto1

Youtube:-  https://www.youtube.com/channel/UCdAOUEQ3L_eYjU_NMDA1zxg 

Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

5 × four =

- Advertisment -

Most Popular