An independent examiner has revealed shocking details surrounding the inner workings of Celsius – a crypto lender that filed for bankruptcy in July 2022. The examiner claimed that Celsius did not operate by the business model that it presented to customers. He likened it to a Ponzi scheme, much like FTX – a company that happened to have used the same accounting software: QuickBooks. The Truth About CEL Token Per a filing from examiner Shoba Pillay on Tuesday, Celsius had…
Getting Liquidated
What Does “Getting Liquidated” Mean in Crypto Trading?
In crypto trading, "liquidation" refers to the process of closing out a leveraged position (a position in which borrowed funds are used to amplify potential gains or losses) due to the value of the position falling below a certain level, known as the "maintenance margin." This is done to limit the losses of the trader or the trading platform. When the position's value falls below the maintenance margin, the trading platform automatically closes out, and the trader's account is said…
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