Claim From Former Celsius Employees: Manipulating the “CEL” Price

Former employee of cryptocurrency lending and staking platform Celsius made statements about the mistakes made by the company.

According to CNBC’s July 21 report, Celsius’ former employees; He said that the company has made mistakes before, it affects the token price and cannot manage the risk.

Timothy Cradle, a former director of Celsius, used the following statements about the company in an interview:

The biggest problem was the failure of risk management. I think Celsius’ idea was good, providing a service that people needed. But they could not manage the risk.

Cradle also expressed concern about the “CEL” token issued by Celsius. “They were definitely doing it to manipulate the price,” said the former employee, who said that executives deliberately increased the token price and traded it regularly. said.

Celsius is estimated to be the account holding the most “CEL” tokens. There are also wallets linked to Celsius founder Alex Mashinsky, according to blockchain analytics firm Arkham. $40 million in sales accomplished.

According to the report, Cradle and other employees were receiving a portion of their salary in tokens. Another employee stated that token sales were made from different accounts. Also, the former employee said, “They were being manipulated as they wished because the volume was not very high.” said.

Celsius has previously stated that 1.7 He said that there were millions of users, but former employees said that this number is overrated and around 300,000 said that.

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