/biz/ - Business & Finance

Imagine holding your funny internet tokens on a centralized entity LMAO

>>53148725
Not your keys, not your cheese.

>>53148725
brb opening a CEX
fucking kek, they legalized robbery
>meanwhile Avi is in jail for exploiting a shitty smart contract
kek, clown world

>>53148725
Wait how can a judge just make a sweeping rule that your money is someone else's?
You are retarded for not holding your own crypto but still how can a judge just say something like that with nothing to back it?

>>53148777
Checked and correct

>>53148843
check early life section

>>53148843
Because people gave them their coins; in return they got a debt - an obligation or promise to pay that money's worth upon demand (or after 30 days) according to the terms or conditions freely agreed upon. People can agree to whatever terms of a contract they want its not the judges fault people are retarded.

>>53149025

This is the un-regulated "asset" you asked for, btw.

How do I into DEX?

>>53148843
Celsius faggots got fucked by the smallprint
>"The Court concludes, based on Celsius’s unambiguous Terms of Use, and subject to any reserved defenses, that when the cryptocurrency assets (including stablecoins, discussed in detail below) were deposited in Earn Accounts, the cryptocurrency assets became Celsius’s property; and the cryptocurrency assets remaining in the Earn Accounts on the Petition Date became property of the Debtors’ bankruptcy estates (the 'Estates'),"

hahahaahaha, withdraw ur coin from exchange now faggots.

>>53149138
so it's jew jewing jews?

Not your name not your shares

>>53148725
oh.. so crypto is not property?
it's a security?
interesting :)

>>53148843
What do you mean how? The customers agreed to give up all their crypto in exchange for using the Celsius platform. Anyone not expecting this outcome should stick with a savings account.

>>53148843
>with nothing to back it
lmao
zoomers learning that even if you won't read the EULA or the TOS, a judge somewhere still will

>>53148725
Law students will be examining the implications of this ruling for generations.

>>53148843
Shut the fuck up you antisemitic chud, go back to /pol/.

>>53149260
I appeal

>>53148793
>Avi
Who?

>>53149100
Yes, dipshits lose money and smart make. It literally is what I asked for. You prefer daddy government to keep you safe?

ORDER!
>ORDER!

>>53148843
Sets precedent to free SBF in the short term.
They'll reverse it once too many goyim start thinking like this anon >>53148793

>>53148843
>anon begins his journey into hating ((them))

>>53150941
yup, if this was cz, he wouldve been fucked

>>53148725
Celsius is a lending platform, retard.

>>53148843
Its called judaism and its the foundation of modern economic theory.

>>53149260
I wish to appeal this ruling

>>53149100
Unironically, good.
>not your keys, not your coins

SBF is unironically about to be a free man

I don’t understand, so if my credit union goes bankrupt from loaning out all their customers money with fractional reserve trickery. Would I get my money back? or should I withdraw and put my life savings inside my mattress?

>>53149260
Filing an appeal rn

>>53151441
You should learn about bail-ins and how they are already legal

>>53148843
Someone didn’t read the terms of service. Someone also must have signed his BTC into someone else’s wallet. Have fun kid.

>>53151441
This question is problematic and not at all beneficial to anyone on this board. Don't ask it ever again.

>>53151441
NOT YOUR WALLET. NOT YOUR DOLLARS.

SIMPLE AS

Fuckin retards. The Celsius earn account wasn't like having your tokens on a cex.

>Noooo don't use the exchange!
>Risk getting hacked or losing the piece of paper your words are on!

Nope. Literally everything I've ever bought is in an exchange vault and I sleep like a baby.

If you just use a legit exchange that will never go under like Coinbase or Gemini, you're fine.

>>53148777
Hi
Cheesed to meet you cheddar doing business with you
Municipal marmalade

>>53152474
People said literally the same shit with FTX before it went under.

>>53149344
Greedy jude Avraham Eisenberg

>>53152474
>Gemini
Bait

>>53151441
>Would I get my money back?
some countries guarantee deposits up to a certain amount but for the most part, lol no

>>53148843
Research bank bail ins

>>53151023
He won’t be fucked because the ccp owns the jews

>>53151706
With enough mental gymnastics, it can be.

>>53152690
You say that but Coinbase and gemini are the only two exchanges that have licenses to operate in the most draconian, ass backwards place on the planet for crypto (New York).
That being said who knows where they'll be a decade from now. PRIVATE WALLETS ARE FUCKING FREE

>>53148843

>>53149025
>>53149100
yes unsecured debt works both ways it's why I and debtmaxxxers can default on credit card and credit lines

maybe there's a tech solution around this, some way to make it secured lending

>>53148843
cool it with the anti semitism

>>53149358
So basically people are incentivized to scam. Free markets are a joke.

>>53148725
what is crypto?

>>53149138
>unambiguous
Sure it fucking was.

>>53148725
>>53148843
Did none of you read the terms with celcius lending?
They acted in effect as a middle man lending your BTC out on your behalf to other parties and paying you a pittance in exchange for you risking all of your BTC.
This was widely known at the height of their popularity but apparently no one can do literally 5 minutes of due diligence before committing their entire net worth to a company that hired a girl who did porn to a significant position.
>>53149100
The only difference between crypto and any other asset class is there's no bailouts for the institutions, the people get fucked either way when it implodes which it inevitable always does because that's just how human nature (greed) works.

>>53153844
But what's new about this ruling? It literally says the crypto that was in deposits is now part of the bankruptcy estate (which depositors still have a claim to).

It took them like 5 months to come up with this bullshit. I thought that is how bankruptcies already work

>>53148725
Alright, I know everyone's shitting themselves over this, but can I get an actual link on that?

>>53153165
>the most draconian, ass backwards place on the planet for crypto (New York)
tfw new yorker

I DON'T WANNA DIE ALONE RIGHT NOW
BUT I ADMIT I DO SOMETIMES

THESE DRUGS ARE CALLIN' ME
DO ONE MORE LINE, DON'T FALL ASLEEP

THIS IS THE SONG THEY PLAYED WHEN I CRASHED INTO THE WALL
THIS IS THE GIRL I TOLD THAT WE COULD HAVE IT ALL
THIS IS THE LIFE I MADE AND I CAN'T GO BACK TO FALL

BACK TO FALL
BACK TO EVERYONE I EVER KNEW AT ALL
BACK TO SMALL TOWN BLUES AND NOT A CLUE OF WHAT'S GOIN' ON
BACK TO OLD ROUTINES AND WEDDING RINGS AND LIVIN' AT THE MALL, YEAH

THIS IS THE SONG THEY PLAYED WHEN I CRASHED INTO THE WALL
THIS IS THE GIRL I TOLD THAT WE COULD HAVE IT ALL

>>53148897
thats antisemetic o.o

>>53151441
are they fdic insured? then yes though you'll have to hope that the whole economy doesn't collapse all at one time because the fdic only has enough money for like 1% of what they cover

>>53152647
no one said that because it was run by a man named bankman

>>53148725
LMAO celsius doesn't have to pay its users because they're unsecured lenders

>>53148777
I don't like nachocheese

>>53154453
Nothing's new about it its a perfectly coherent and established legal position. Courts take ages to decide anything though.

>>53149138
80 IQ retard here, what does this mean

>>53148725
I am surprised no one has ever done a minecraft over something like this

>>53148725
>You're giving up your legal rights to your money when you use their services
LMAO the long noses are ecstatic over this!

>>53149138
So basically this means that if there was a small printed clause in the conditions that said
>The user becomes slave for Celsius for all eternity
They would be legally slaves now? Is that how the law works in nigmerica?

>>53148777
check'd

>>53155083
Unironically, the J boys out maneuvered everyone. When a company goes bankrupt, the bond holders(debtors) take the company. Your crypto, formerly your property, formerly Celsius property, is now owned by loaners of money, the banks and bond holders.

>>53148777
Checked and cheesepilled

>>53148843
Early Life Section

>>53151422
nice tuck bro

>>53148777
fucking rubic I have nightmares about this mouse

>>53151422
No because int FTX's terms of service they were clear about not doing shenanigans, unlike Celsius.

>>53148897
The judge that ruled in this case is Justice Roger Edward Worthington-Smythe lV.

>>53155504

>>53148725
I hope you guys remember when celsius tweeted about going after people who withdraw their coins....

>>53148725
So much lessons learnt last year. I think it's best to even switch to using privacy protocols. Don't want everyone seeing my transaction history.

>>53148843

>>53148725
unlike ftx, not your keys not your coins was in the ToS

>>53148725
Wow
It's official now: These motherfuckers will uphold pretty much ANY legal contract, no matter how fucked up the terms were, EXCEPT for a prenup
I wonder why that is

>>53148777
Checked

the celsius jew put "not your keys not your coins" in the tos hence why this ruling but sam bankman-freed didnt do that

>>53156987
The rabbit hole goes deep

>>53148843
>how can a judge just say something like that with nothing to back it?
because the legal system is a joke
that's why 'code is law' exists, legalism is a complete utter farce

>>53148777
>didn’t say “nacho cheese”
Wasted.

>>53148777
Very gouda.
Cheesed to know my wheel is in my keel

>>53157205
based

This precedent means FTX Jew walks

>>53148843
This whole civilization is a fraud man. Everything is scripted and manufactured, just like the FTX/Celsius drama and countless before that.

>>53148725
BRB, gotta go hug my Ledger

>>53148725
>dysfunctional legal system of a corrupt and crumbling empire that relies on debt-based currency makes ridiculous ruling

really makes you think

>>53148725
>southern district of new york
>(((Judge)))

>>53148777
The mind blowing truth /biz/ is not ready to swallow.

>>53153345
people are a joke. if you're too retarded to take care of your assets you deserve everything you get.

>>53153345
You are also incentivized to be a savvy investor. But that requires personal responsibility so people would rather have a government safety net that punishes the smart and innovative in order to protect the stupid.