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…
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What Are Crypto Liquidity Pools?
Crypto liquidity pools, also known as liquidity pools or liquidity provision pools, are a mechanism used in decentralized finance (DeFi) to provide liquidity to trading pairs on decentralized exchanges (DEXs). A liquidity pool is a pool of assets, typically made up of a combination of cryptocurrencies, made available for trading on a DEX. Users can add assets to the pool and earn a share of the trading fees generated by the pool, while traders can access the assets in the…
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