Exposing Celsius - A Billion Dollar Fraud
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- čas přidán 27. 05. 2024
- Unbankrupt Yourself with Celsius
UPDATE: ALEX MASHINSKY, CEO OF CELSIUSHAS BEEN ARRESTED!!!
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3D Artist: Ed Leszczynski @LeszczynskiEd
Video Editor: Harry Bagg @HarryRBagg
Virtual Production Software: Aximmetry
This video is an opinion and in no way should be construed as statements of fact. Scams, bad business opportunities, and fake gurus are subjective terms that mean different things to different people. I think someone who promises $100K/month for an upfront fee of $2K is a scam. Others would call it a Napoleon Hill pitch. - Zábava
ALEX MASHINSKY HAS BEEN ARRESTED!
Ladies and Gentlemen, we got 'em.
Yessir!! Loved the video !
Bout time
Yayyy I don’t think many will see this comment any time soon though
Keep making these videos, king
"He's an entrepreneur that had created all these companies, and he didn't need the money..."
These guys never *need* the money. They just want it. There's no altruism in this stuff.
Right, SBF had this argument too. Yeah, reality is the same ol' same ol'.
There is a certain point in everyone's life where its not about the money. As long as you stave off poverty you can stop there. Anything more is personality based.
Whoa whoa there what do you mean by "these guys"?
these companies were based on fraud
Learned a new word, thanks. Lol
"Banks are not your friends"
What makes them think that crypto corporations would be?!?
B-but he's a man of the people!
Celsius wasn’t even FDIC or SIPC insured! At least banks have your money insured up to $250,000!
Rewatching, what's most gross about this is that the arguably-good thing that Mashinsky describes is... just a credit union. So it's another case of techbros inventing something that already existed but making it worse - in this case by being a massive fraud.
69th like 💪
Mashinsky is using honest language and doing con artist things. There is no free lunch and disruptors are just con men.
This single comment describes it all
That saying 'The best way to rob a bank is to own one' has never been more true.
It wasn't a bank... not even remotely like one.
It's worst than robbing a bank. They robbed people.
It is not even a bank. Lol
so deep
If it would have been a Bank it wouldn’t have happened.
Because banks are REGULATED
"Banks are not your friends."
"But Alex is?"
"Yes"
How does this not set off any red flags.
Because people can be stupid. I know that's not all, but c'mon. Someone in their right minds would at least do their due diligence.
I think the thought behind their reasoning was that celcius was safe because the youtuber xyz are promoting it. And more and more people are parroting the words of said youtubers.
This is exactly what a groomer would say about parents. . .
Suspension of disbelief due to greed.
There is a difference. I like the information he gives but I'm not trusting him with all of my money. I also won't put complete trust in his information.
My wife and I were in the top 1% of account holders with Celsius in 2021 because we sold our home and literally put our life's savings into it. Thankfully, we were able to withdraw most of it before the crash to buy our current home, but the window between the two events was literally two months. As of right now, we've lost $12,000 because of Celsius. If we hadn't bought our current home when we did, we would be completely wiped out and starting from zero. Alex is a disgusting human being that never spoke a single word of truth. We are unbelievably lucky that we didn't lose everything, but so many other people and families lost much more than we did. Meanwhile, Alex laughs all the way to his BANK and sails off into the sunset. Pathetic.
I'm not trolling, but I am legitimately curious as you why you would put what seems like the majority of your net worth in something like this? Especially if you actually needed it to purchase a home? Why wouldn't you put it in the bank (or really across several banks)?
On the other hand, you might want to consult a psychiatrist to make sure you ate not suffering of pathologic gambling issues.
Who puts all of their assets in one questionnable bet? That s insanity.
I agree that Alex Mashinsky is a piece of shit but Investment 101 is "Don't put your eggs in one basket". What made y'all put your whole net worth on a single risky asset (crypto)?
Careful because you can get clawback
Glad you didn't lose everything, but I hope you took this as a warning shot to stay away from crypto.
Just read that the CEO was arrested, and the company settled 4.7 billion dollars. This is not happenstance, CoffeeZ is doing real and true journalism. God bless you CZ.
unfortunate abbreviation of “coffeezilla” there, m’dude 😭
I can't work out what's wrong with one of them (CZ or CoffeeZ)? @@madelinekim4420
@@madelinekim4420I'm 4 months late but i don't get what makes it an unfortunate abbreviation can you explain 😭
@@LunarRaevyn CZ is also the name of the ex-CEO of binance
@@madelinekim4420 oh that's Super funny actually, thank you
It’s just safer to assume that any “crypto” venture is a fraud. You’re 99% certain of being right, then.
Its more that you cant get away from banks by jumping to crypto banks
And in the one percent that's not a scam fails anyway because of incompetence
If there's actual big money to be made, they certainly arent going to advertise it to you. Its very safe to assume that there is no altruistic sales pitch
You’re 100% right if you include “fraud by idiocy”
@@issintf925 *cut to Alex Mashinsky screaming "it's not a bank!!! we're not a bank! guys I swear we're not a bank, banks are evil! we don't take your money we take digital assets, it's different, it's not money, it's digital assets guys!" over and over again into infinity*
No one’s willing to go on record with Coffee because they all know how much effort he puts into exposing scumbags 💀
It's a ponzi through and through, Alex needs to face charges
If you tell the truth about financial crimes that is incriminating. If you lie about financial crimes that is fraud.
@@Arigator2 The Old Rock and a Hard Place
@Jimbo Slice yeah. I mean you can say words that mean nothing but that is a dangerous game. SBF tried to do that and I don't think it worked.
*scambags
People should learn that if a rich dude says "I don't need your money, trust me" you will get robbed by him. Just because he "doesn't need" it, doesn't mean he still won't take it. Most of them got rich by walking over people.
I mean being rich already means acquiring more than you technically need. What's the difference between the last 100m and the next? If you chased the last one, why would I assume you'd stop hunting.
As a person who loves stories and storytelling, I just can't get over how amazing Coffee is at the craft. Props not only to him but the entire production team behind him; cheezy as it sounds I actually get chills at how well made this is haha. Keep up the great work everyone
I've only just watching his videos, and this is one of the thing that strikes me. The production value is striking.
They wanted to create an alternative to banks, but they actually created the worst possible version of a bank.
But so many people got to be part of " the community " lmao. When these scammers use those words to describe their customers it's a giant red flag
There is a community banking institution, it’s a credit union. They’re totally legit, and also really boring, because responsible banking is boring and doesn’t make a bunch of people rich quick.
@@aluisious yes, we have those in France too. One of the main bank actually uses it as its motto : "The Bank which is owned by its clients"
@@aluisious Credit Unions are wonderfully boring in the best possible way.
@@nbarbettini yep, boring can be exciting in its own way.
The moment lying takes place, you move from the "incompetence" category to the "fraud" category.
Reminds me of another guy that made some sort of zoo animals in a crypto and called it a game 🤔
@@Jibbertyjabber Indeed it does!
🎯
manipulation attempts
It’s actually intention, not lying
I can’t believe Machinsky isn’t being charged. Whoever made that choice should be locked up right along with him.
He's arrested now lol
The guy explaining how he feels "stunted in life" because of losing his money is so fcking relatable, I can't even. I'm 32 years old and this is EXACTLY how I feel. He worded that perfectly.
I felt it and brought me back to 2009. Ugh. Heavy.
I like that you are incorporating victims interviews more in your videos; saying a fraudster cost people $1billion is hard to relate to, but showing people effected humanizes the problem. Keep up the great work Coffee
"Victims" kekw
On the one hand, yes it's heartbreaking to see how this has destroyed people's lives, on the other hand, these people made their bed and slept in it when they decided that crypto of all things was a sensible thing to invest into.
17% yields on secured assets??? Victims?
@@McGregor43 Sometimes people are uneducated and are ignorant of how this market works.
@@kanishkjaiswal5088 If you told me this 5+ years ago then sure, but at this point, anyone with even a slight interest in investing should know how risky, unregulated and especially how prone to fraud crypto is at this point.
Biggest Red flag ever: Business Man telling he doesn't care about profits
the production on this video was insane!! props to you and your team!! rare thing to see youtubers investing back into their sets and production value like this
well most youtubers make no money even if ads run
The conversation with the robot was next level, as is everything you do Coffee, keep it going!
yes, the robot said what we were all thinking at that point. very well done
i realized i’ve never truly appreciated how much work goes into making these videos until that very moment
This is why these schemes will continue to pop up, no criminal actions are taken. Founders get rich, participants get screwed, and that’s the real flywheel of society.
Until the crypto market has some kind of regulation, this will just keep happening.
Right now its literally the wild west - the only thing you need to start a ponzi scheme is a 'winning personality' to sell _belief_ in your product.
There's no risk of jail time, no massive fee's or penalties. Absolutely nothing to stop the next SBF or Machinsky.
Are you nuts ?? Look all the people who went to jail or are wanted cause of these kinda things.
Forgot already FTX?? They get you sooner or later. This dude from Celsius will go to jail, if he wants or not.
These kinda things pop up cause people think about themselves that they are smart. But when everything crumbles in the end,
thats is when they realize, that they are not so smart as they have thought in first place !!!
Sad to hear that you feel these scammers impersonate the ‚flywheel of society‘.
Actually most businesses are not based on scamming but improving peoples life’s. Look at all these things people own and consume nowadays.
I think you may be watching too much coffeezilla and true crime honestly 😉
but somehow its bitcoin´s fault lol
@@Kleinanzeigen_Xone4D If you truly believe corporations are built on improving lives then you have a lot to learn.
these are literally professionally produced mini documentaries at this point, such great work
You anime kids always copy paste this before watching, heh.
Oh look all the bots are copy pasting this same thing.
heckin better be thats a 10k studio righ ther
@@dertythegrower you're a real fun guy to have at parties, i just posted my initial thoughts, prick.
LiTerALly
I wanted to talk a little off the topic but the way these videos are produced are so effective in keeping people engaged and interested in the serious topic manner. The lighting, the 'storyline' to keep the flow of information going - it truly is helpful to continue engagement and really make people care - the rewatchability is high too so it keeps people coming back and hammering in the message. I'm just very happy/proud with the team at Coffeezilla. They are all clearly rockstars.
It takes real guts to do what you're I mean exposing such big companies and big people without any fear is amazing to me!!
The dude trying to promote the idea of a new banking system is the one that should probably look out. Lol
All these fraudsters calling in "incompetence" card is so ridiculous. Imagine a bank robber using the "incompetence" card. Imo it shouldn't matter whether they did it intentionally or not, they still screwed over people's money, and their actions should always have consequences
Intentions certainly matter but once the persons proved to have bad intentions they should be absolutely fucked to beyond hell.
@@danielprovost unintentional manslaughter still sends you to prison, so unintentionally scamming people should to imo.
Yeah with high stakes mistakes you should definitely be held accountable. You want the most qualified person in the job when the potential consequences of failure are distastrous. That's why you want only the best of the best to run the country, you want a qualified pilot to fly planes, you want the best supervisors running a nuclear power plant, etc. Compared to a fast food worker who gets an order wrong, it's not going to matter in the grand scheme of things.
@@wadewats2278 adding to this, unintentional murder may not be the same as unintentional manslaughter
there should be a limit where "oops twas an accident" is no longer a valid excuse
@@wadewats2278 the number of years behind the bar, penalty imposed will differ
Pro tip: any time a company is named after a famous scientist, there is a 99% chance it is a scam
Should have been named "Kelvin". Your investments turned into absolute zero.
I was going to name my company after Oppenheimer because we’re the bomb.
Tesla ?
@@syko2164 slow clap
Tesla
The fact that the feds have not put a RICO on these type of scammers but can find a way to get rappers on bs rico chargers says a lot.
“We presented to 200 venture companies and they all sold no. You cannot win against the banks” ☠️🚩
Celsius guy literally tried to cure centralized banking with his own centralized bank, selling unregistered and unregulated securities. You can't beat corporations with corporations, even if you're genuinely trying to make some good, let alone when you just want to grab some cash.
He used the bank to destroy the bank
you basically described 99% of crypto.
"Cure centralized banking" just tell me the problem with central banking? Is the central bank the problem or extreme corruption in the government that is supposed to be the invisible hand redistributing the wealth ?
they never tried to "cure centralized banking" they just created a Ponzi scheme to steal money and then claimed to be altruistic!
Agreed. This is a stop fighting fire with fire situation, we are all getting burned. We need to heal from the damage done by these actions and learn how to evolve to root out corruption. The corrupt actions harm us all.
If anyone claims to represent an alternative to banking, ask them what their alternative to FDIC insurance is
If a bank run went down on a large scale in the United States, that FDIC Insurance would equate to about 1.5 percent. Read the word magic...Insured UP TO $ Pick a number that looks safe to the average Joe. I hate to say it but if you don't have it on you, it not technically yours, it's theirs until they give it back to you minus any fees. There is a massive liquidity problem across the entire banking system...Overnight REPO starting in November 2019. FEDERAL RESERVE was plugging the holes and needed an out...then came the FLU... Everyone needs to get a clue. These are unprecedented times. I am tired of it all and I am tired of trying to slap sense into people.
"We wont need it! Its so SAFE! Nothing can sink the Titanic!" - Titanic ticket salesman
Yeah, got sucked into staking elsewhere. Sounded legit, read all the stuff and decided 6% was good. Only lost $5k which was not a life changer but hurt. Learned my lesson.
At this point i am convinced every thing related to crypto is a scam
One dude. Making Netflix quality content. This man is a legend
Bro why you gotta insult Coffee like that
Not that type of Netflix quality, @@bernardosales1044.
"as seen on netflix"
It’s a team of people that brings you this content
I'm sure he has a great team by now.
Shoutout to the vulnerability of these victims to admit this stuff online. Takes courage to talk about it.
Scam and scheme aside, it's hard to sympathize with people who knowingly and intentionally risked money they very clearly know they cannot afford to lose. The #1 rule when it comes to investing in unregulated highly volatile assets is do not risk what you cannot afford to lose.
@@DJSolistica Yep, it takes balls to admit your fuck ups like that.
They pay the price of being too greedy and dumb
Takes courage to be dumb HAHA
@Theeb ذيب it's not being greedy. It's being fooled and taken up in the excitement of a new thing that appeared to have great potential and reviews from a lot of People. When you would look at the reviews and news surrounding it at the time, it seemed legit. Some of us put a little in to test it out and some put a lot in out of trust in those people who claimed that it was worth it. Stupid, I'd prob agree with you there. Greedy? No. It's about as greedy as putting your money in anything that is risky, whether IRA's, stocks, bonds, crypto like bitcoin or ethereum, or even banks (people can lose everything with banks too. My husband lost 500$ from BoA)
A fool and his money are soon parted. And they were lucky to be together in the first place
The overall quality of your videos is just mindblowing. Incredible investigation, wrapped in an insane and captivating production. I used to watch you when you had a few thousand subs and spoked infront the camera with almost no edit and already enjoyed it then. Its amazing how far you have come, can't imagine how much work this has been...
I don't think claiming incompetence is a valid defense here considering they were going to the media and explaining exactly what they would have had to do in order to be competent. It was their whole selling point. That proves they knew exactly what they were doing and lied to cover it up
@@p-__
His farts help him make this show, your farts helped you make "corndogs gone wrong."
How exactly are you comparing farts?
@@franka4312 don't forget those chili dogs you ate last night
@@jeffshackleford3152 think you tagged wrong person
@@alexomer9916 okay, i confess, i ate Frank’s chili dogs.
@@JoeOvercoat I KNEW IT, he loved those chilli dogs… how could you
One of your best. Was sceptical about this “take more time to make more polished videos” strategy because some of the shorter more comedic ones were my favourites, but this is next level definitely worth the wait
I like videos lasting 20/25 minutes, they're my favorite format. 10min is too short but 40/50 is just too long
@@zapataboy9377 So @Coffeezilla when the MakerDAO true story? Puerto Ricans like Logan Paul seem to be enjoying the island….
concision is really an art. Coffee is great at making ~25-30 mins of concentrated content, hope he keeps going with this strategy
Not gonna lie tho, It'd be nice to get an occasional tom vu'ish reaction cut like he used to do 🤷♀️
But i agree, in the grand scheme of things these videos are drastically better. And he's crushing the numbers
@@zapataboy9377 I don’t mind 25 minute videos. I definitely can’t watch a hour video in 1 day
It’s astonishing how heartless living ppl can be.
My heart goes out to all affected. I know they won't be whole but hope they can get something.
Coffeezilla is the morning content I thrive to ingest
Until something interesting happens
strive?
It's like a morning cup of coffee
@Azuri e Until something interesting happens
Are you sure it isn't mothballs in absinthe.
I love how their whole platform was "Banks suck! Don't trust banks!". I do agree banks suck, but I bet the general safety of things like FDIC look real nice right about now.
Indeed, tell this to yet another bank that went down, check out news on SVB
I really enjoy this channel, even though it makes me sad,furious, and down right pissed off,but thank you Mr. Coffee!
Your production quality is top-notch bro. Whatever you're doing to make all this happen, keep it up!
Steal money from a register at 711, get a year in jail. Steal billions, get a slap on the wrist.
I get where you're coming from, and yeah, stealing billions should definitely carry hefty time, however, stealing from a register is a different theft. If it's an employee, they usually just lose their job. Even when stealing product, there is a threshold that can a person can virtually get away with without criminal charges.
Then there is stealing from a register in form of a robery. Usually requires a dangerous weapon. Which puts others in immediate danger.
@@christiandean1099 i imagine scamming people out of their life savings also put them and their family in danger. not as immediate, perhaps, but still.
I always say, this world we live in was created by smart people. They made crimes they’d commit into minor crimes and the crimes dumb people would commit into major felonies.
“Steal a little and they throw you in jail,
Steal a lot and they make you king” - bob dylan
@@thyowen in danger as phisical danger, dummy!
You can *really* feel the ramp up in production here. Fantastic work.
Are these comments from patreon members trying to convince themselves it's worth it ? 😂😂
@@SharpShooter700 He's just stating a fact. Compare this video to one even 6 months ago and you'll obviously see the difference. Besides, patreon is all about financially supporting the content you enjoy, nothing more nothing less.
@@SharpShooter700 are you saying that there isn't one? Cause there absolutely is. Better mic, better editing, more locations, the CHAIR. It's gotten better
Coffee is clearly approaching the *$20M studio* mark. Android bartenders don't come cheap!
@@SharpShooter700 Anime kids like him do that to try and get more attention on themselves, think about it. The next top comment is also an anime kid saying a vague comment before watching.. they do this to get more votes and hence, more attention on themself
found you from the logan paul exposed series! absolutely magnificent work you are doing here! exposing those are are taking advantage of new technologies and vulnerable people. Fantastic production quality too! definitely earned urself another sub
The production quality of your channel is low key amazing. The robot dialogue was legit.
I never invested in crypto or NFT. I am an average romanian that makes the minimum wage( 400$/month in Romania) . But I've watched all your videos because I love how you try to help others to stay away from all these scams. Keep it up bro. Much love.
Well, the good news is that you are richer than a lot of these people now.
@@500dollarjapanesetoaster8 sad but true lol
I made 30k with 30 euro's in crypto, but also lost enoug.. still dont recomend.
I just last keep in mind "if it sounds too good to be true it probably is" it always keeps you suspicious enough to further look into things
@@epictimebreaker It's one thing to speculate and get lucky, but never give money to somebody who promise you to beat the banks. If you don't understand where the 8% return should come from, it's likely they come from you
There was always a red flag from Celsius and that was, who in the world would want a loan that they needed to collateralize at 200% of the borrowed amount?
I know right? that sounded absolutely crazy to me and I know almost nothing about investing and loans
Simply ludicrous .
You can get better terms from the Mob.
Isn't that the way of a regular bank though?
Prove you don't need a mortgage to get a mortgage.
Jail them all!
Isn’t what you just described a 50% LTV?
@@Pattbonn47 ...that's not how banks work.
That being said if you're lacking major deposits you can do an FHA loan wherein you only put 3.5% down.
It's not great but it's better than renting... And you don't have a landlord.
Quality in content is boosted. That bar scene was very awesome and nicely done. Great journalism as always!
Much respect sir. Your transitions, camera angles, and lighting are at a professional level.
I happened to be very broke a month before this happened, I pulled out all of my crypto from Celsius reluctantly and watched friends and relatives go through this horrific experience… Being broke then was a very unfortunate blessing in hindsight
I really just can't wrap my head around how people feel comfortable with this stuff. Maybe it's because I'm an old man in a zoomers body, so I'm jaded lol I still keep physical cash, and the rest of my money I just recently put into tangible assets like land to hedge inflation. I just don't feel comfortable allowing banks to turn my money into a number on a screen and fractional-bank it lol its just not fair. And it's obvious why I don't trust crypto. I don't trust ANYONE. I want to HOLD my wealth. All of it, I want to be able to physically protect it with my own body. That way, the only way you can steal from me, is to directly go through me. It's old school, but it's effective, and it gives me peace of mind. Keeps tracking to a minimum too. Btw, safest way to do this is toss all your cash in a lockbox at a bank or other secure place. That way your money is safe, but they can't SPEND IT
@@GlorifiedGremlin- cash in a lockbox can still be stolen. And it cannot easily be insured.
@@JanBruunAndersen Yeah that's the trade-off. No FDIC insurance, but they won't spend your money without your permission and say oh well lol btw though, did you know that the FDIC can just change the amount of money they will cover, WHENEVER THEY WANT? So when the time comes that a bank run actually DOES happen, the FDIC will just say "yeeaah, actually we changed our mind. Well cover 50k per person, not 250" literally every financial system was designed to exploit the masses, Including the ones like the FDIC who pretend to help you. They're only there to give us a false sense of security so we're easier to take advantage of
Losing value from coins/tokens dropping in market value over losing said crypto are waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay different. Unless said crypto death spiraled or rug pulled, it's got a chance in a couple years as long as it's an active project
@@GlorifiedGremlin that money isn't insured then. I'm not aware of any bank customers losing money from their bank mishandling it since insuring it became a thing. Celsius wasn't a bank account but an investment vehicle
We poured over $200k of our house earnings into Celsius, and at the same time, I was educating myself on fiancee and basically how money works. Eventually, I couldn't sleep at night as I couldn't trust Celsius, pulling all of it OUT before the shit hit the fan! These yields just didn't make sense to me.
My soul left my body when I found out the real truth, how stupid I was to believe Alex.
Yeah I'm not massively into finance but there's no way they could maintain those interest rates forever
So you "invested" 200k without knowing how money works? How do you get 200k period without a basic understanding of finances?
@@stephenramos2824 Working?
I’m so happy you managed to get your money out.
@@thomasmasseycontrereras8740 na bro you need to follow financial hustle advice to make 6 figures and have a lambo, definitely can't make money without using finance
I just found your channel and WOW the production quality is absolutely amazing!
You can just tell this is a million dollar studio with the production going on. Fantastic work
The transition that starts around 1:20 was masterfully done.
@Josh May was just thinking the same thing, I was loving the production quality
How insulting, everyone knows its worth 10 million.
Actually it’s a 10 million dollar studio
The coffee cup random steaming is just extra. Love coffeezilla.
I think that identifying a ponzi scheme should be taught in literally every math class from high school.
When someone says "we will make money by getting more people in the program to give us money" and that's *literally* the end of the sentence, it doesn't matter how many people "get involved." Eventually the money runs out
You do get taught in school? Also use common sense
could this be the same reason why socialism doesn't work?
@@coaxialembryo Maybe you were taught what a ponzi scheme is but that is not in most school's cirriculum
Interests kill businesses. Just look at our interest based World economy, totally in shambles.
@@cogs7777 no, ponzi schemes are the peak of capitalism. can't get any better profit margins than a ponzi scheme.
damn, seeing all these guys smile while they explain the significant money loss hits hard. Always have to cover up the incredible pain with a smile.
I remember coming across this and was absolutely suspicious at the rates... my financial and investing knowledge is pretty simple... don't let fomo and 'social proof' replace due diligence
Always love to hear people say "he didn't need the money"
Hahaha foreal. Big time cope
In "My Name is Earl" episode "Conned an Old Man out of 100 Dollars" the quote is "The easiest way to trick people out of money is to tell them you don't want the money."
You did a great job exposing them like always, but it's really sad to know that the guy is not facing criminal charges after all that.
If you want those scumbags to face justice, join a communist party and stop supporting liberals.
heh, first time?
@@p-__ at least he has a dad unlike you
I'd add a yet to this, just because they cant do diddly now they might still be looking the scale involved is massive, hopefully someone wakes up watches this and takes another look
Keep government out of crypto. Let the wild wet sort the hyenas from the hogs. 🤣
not only are your investigations top notch as always, also your level of production quality is really really impressive!
GREAT one Coffee. Really appreciate your hard work
It’s insane that he’s not been criminally charged
Will he eventually be charged? I mean they got Shkreli on running a Ponzi despite there being no victims, I can’t imagine they can’t charge this guy.
He's untouchable. Everybody knows why.
@@The_Modeling_Underdog Not everyone. Most probably dont.
@@Valkbg You're right.
@@Valkbg why?
i was also a victim, 600 dollars is not much but it still hurts to be deceived.
Stealing is stealing. That is still plenty sucky
I mean, you agreed to their terms in a unregulated market. You gambled it away, should they have lied to you? No, but YOU need to take responsiblity and learn from it so you don't get swindled again.
Sir, you did nothing wrong. You were LIED to. I think the saddest part is the reality that people in the government, can do what they do to make profits in stocks market, etc, yet regular people like us, have no other options- but to take "chances" elsewhere. I mean, it's more difficult to purchase a home these days, which is the only other way to make profits, above from our regular jobs. I'm sorry this happened to you and so many others.
To hear all these people discuss there losses, was truly heartbreaking. It begs the question, who can be trusted??
That stinks. Hopefully you get some of your money back and hopefully the people who stole your money are brought to justice.
brilliant work, brother. thank you!
Thorough research and highly informative as usual. Thanks!
Who knew that loans collateralized with imaginary assets could be so risky to investors?
Finding genuine, good intentioned and non-predatory people in this world is like walking a minefield completely blindfolded
Personally, I think that's a bit pessimistic.
Unless the world you are talking about is the crypto/finance world, then seems about right.
Take your blindfold (greed) off and you'll be fine.
Most people are non-predatory and good-intentioned. That's why they don't try to create money out of thin air. Those who do are very few, but highly "talented".
you are an idiot
Don't come to this channel then. He's just getting rich from others misery.
I think what sets coffee apart from everyone else is how diligent he is, he makes the utmost effort to provide every detail so we can all draw our own conclusions. Coffee might as well be CZcams’s main journalist.
He appears to be sincere in his due diligence, and in giving the benefit of the doubt to people. which is fantastic. I suggest that as he gets older, his due diligence will become even sharper, but he will stop giving the benefit of the doubt to people. Because…so many people suck.
he definitely is, no question
@@sadf8ce him an Jame's O Keefe lol
@@KingOfAssyria_IIVI the project veritas guy? 🤣🤣lmaaaao
There is no such thing as a “main journalist,” that’s a stupid concept, like having a “main electrician.”
The production on this video was amazing keep up the great work and please keep fighting the good fight
Man your story telling and video editing style is fantastic 👍🏽
This is what real journalism looks like. Great Work!
@@p-__ facts
@@p-__ bot
Really? Real journalism need to have cartoon televisions and talking robots like some kids show?
@@DenDodde real journalism need to have in depth research into a subject. How it’s presented is irrelevant
@@DenDodde lmao, that’s his genius. He presents it as a story arc, in his own “universe” with recurring characters and themes. It’s great, creative, one of a kind! Any crusty old mainstream media newscaster can make a boring, dry presentation with no real research, just corporate talking points. If that’s what you prefer there’s more than enough (way more imho) of that type of journalism.
Two things help me avoid scams.
"If it sounds too good to be true, it probably is"
And
"If it takes more than 5-7 words to explain, it's probably a lie"
Similar to mine: "If the returns are so good and safe, why do they need MY money?"
The first one is golden advice and it would be great if everybody learned that, but I'm hesitant about the second, many things require at least a few dozen words to explain
On the contrary, if it takes
If there are 3 or more buzzwords, it’s probably a scam.
Buzzwords such as algorithm, machine learning, AI, automation, passive income and etc.
Uh... the second advice is not good. If you want to avoid scams you need to understand how it works, and most of the time that takes more than a few words.
This whole thing just proves one of the many memorable lines of Dan Olson's "Line Goes Up" video essay all over again:
The problem is what people are doing to others, not that the building they’re doing it in has the word “bank” on the outside.
Because of watching that video, my first question was why was this guy qualified to take on banks? Did he have any understanding of why banks operate the way they do?
@@PinkCatsy he wasn't qualified. he failed in every business since he was a scammer
@@toomanyaccounts Yeah this is why I don't really think he deserves any leeway in terms of his intentions. Like even if he actually did have noble intentions going into it (which, like you, I strongly doubt tbh), I think there was a low probability that he would've been able to live up to his promises anyways.
The company was called "Celsius" and people kept reading 8% yield in Fahrenheit when it was actually -13 lol
A lot of the documents might end up going to 451
One of the infuriating thing about "taking on the banks by giving 80% of profits to customers" is that this is exactly what credit unions already do, except its 100%! Credit unions are consumer cooperatives fully owned by the customers. If you want a bank where the profits go to customers, just go to your local credit union, its government insured. Also, credit union board of directors are volunteers members can elect on one-customer-one-vote basis.
Actually credit Unions aren't insured by the FDIC however they have some protections by the NCUA.
Can credit unions guarantee you 9% of return? Are they crypto and disruptive? That's basically what makes people put money on these places
@@codemiesterbeats Good point, edited my comment. Its equivalent to FDIC nevertheless; the government guarantees you can get your money out.
However management makes huge salaries.
@@jantschierschky3461 How much per year is "huge"?
"Former Celsius CEO arrested on fraud charges as FTC lines up a $4.7 billion fine" The Verge
There’s a part of me that feels bad and there’s a part of me that believes that people will loose money to these schemes regardless so it’s really just survival of the fittest
Asking "where is the money we pay the banks going" is a nice argument, until you take literally one second to think of the fact that banks have staff and other expenses. You cannot get free money without someone losing money, and you cannot run a business that earns nothing to maintain itself.
@@elvingearmasterirma7241 *aren't
banks have to make money in order to do the business of lending. there is risk of default on the loan so banks have to also cover the losses
Well his whole “banks aren’t your friends,” marketing was just part of the con. Of course it’s BS. But it appeals wonderfully to the emotions of a group of people who feel left behind. Unfortunately, they got preyed upon and now they’re even more left behind.
The big bank bailout should tell you the bank will overextend itself
Industrializing is much sacer than this
I am almost afraid at how unafraid coffee is to take on these giant fraud structures... the risk when fucking with people's money can NOT be understated. This man needs protected at ALL COSTS!
As a Russian, there's ZERO risk, practically. Apart from maybe loosing a lawsuit or two, which makes risks financial, purely.
And i know what is risky or not and to what degree, just due to my nationality 😂
Doesn't make his documentaries less valuable though.
I love the style of reporting you do coffee, I'd love to see one done on the federal reserve!
Awesome Production value bro. You took your game to a whole new level.
Why would people like this stop? They are not held accountable.
I think thats because we would have to hold banks accountable too and the system will crash man nothing is as it seems
because theres also endless line of ppl who are greedy and wanna earn easy money with high intrest, and would belive all twiter bullshit :D
@@sumilidero yeah and coffee calls them victims, cryptozoo people belong in a zoo🤣
@@ssozimichael2532 exactly haha xD
They're operating in a space gleefully designed around impunity. If your entire line of thought is "Institutions are evil, let's dodge regulation", can you really cry when you get taken _exactly_ like people did before regulation?
If this guy is innocent, then Nicholas Leeson and Bob Citron are innocent. You can't "fake it till you make it" as a financial institution. You can open a high risk fund where the investors are aware of the dangers, but you can't run your whole company like a roulette table expecting it to always land on red and hope no one notices until it does.
Thank you, keep up the good work man
i remember Lord Sugar who owned some big stock market companies and the newspaper asked him if he invested in shares? and he said "NO it's a mugs game and you might as well put your money on the 3:30 at Newmarket horse races and all these so- called geniuses, why haven't they got their own aeroplane? and still sitting behind their desks at Goldman Sachs".
Never change, Coffee. This world needs you.
He just snitches on everybody
@@starzz7221 cryptotard BTFO
@@starzz7221 exactly and we need that
So why isn't he reporting on Adani then?
@@Brian-vs9sd" So why isnt he reporting (random scam) then? "
Cant you see the editing level of his videos? He wouldnt even sleep if he wanted to report every single scam in the world, and the quality would drop quite a lot aswell.
Coffee is truly one of the goats already in the youtube scene in my opinion , his integrity and passion is next level big respect to him!!
Yeah, I find it interesting that I hear so many other CZcamsrs mention CoffeeZilla.
who else is a goat?
Integrity should be a normal thing. Its actually sad that there is almost no one left with.
@@maverigz ranton ,beerlizzy and hasan ,h3h3, i did a thing and so on
@@tugzzcouncil485 h3h3 and hasan😭😭😭 you must be joking
Big Props to the examiner. Girl really did her job well! GG! Obviously you as well coffee 😉
What difference does it make, if they're never going to prosecute though?
The production value on these later videos are amazing... kudos to your production team!
This whole scam would have never taken off if Celsius depositors had just stopped and asked "Where does the money to pay my 8% yield come from?"
And if they're giving 80% back, that means it's a 10% loan. When mortgages were less than 5%.
@@artsmith103 they took advantage of financially uneducated and greedy people.
my biggest question watching this. if organized banks cant pull it off how can this guy?
But that's no fun. This all seems like degenerate gambling to me. Eagles soar, birds fly, and pigs get slaughtered. That 8% yeild had to come from somewhere, ponzi would be proud.
Yep - these are the least innocent victims IMO. They got caught holding the empty bag was their regret
People are able to delude themselves to the point where they see themselves as honest
Reminds me of Snort Burnell the stream-ebeggar
Just like dsp aka Snort Burnell
Some people are able to delude themselves to the point where they see an 8% "guaranteed" interest as absolutely safe
“Trust me” sketchy words
@@Kotiara123 that’s the part that blows my mind. they heard 8% interest and tossed everything they had. in the first few minutes all mashinsky says is TRUST ME ITS SAFE TRUST I PROMISE NO BAD
Obviously great video as always, but can we take a minute to appreciate the awesome prints in the background at 7:21?? this guy is doing some awesome stuff!
Jesus Christ the “human aspect” of this video gave me goosebumps. Now THIS is how you win hearts and minds.
You always know it's getting good when the robot bartender shows up.
Technicals!!
I like how Peter Schiff managed to call his fraud within 5 minutes of meeting the guy on tv interview 😂
Do you have the name of the original interview? I'm finding newer stuff.
Surprised there wasn't a short clip of that exchange in this video
Great report/investigation, thank you very much!!
Great documentary! The production value is next level now 👌
It'a always mind boggling to see how many people just take a company or an individual at their word and never even consider that everything being said could (and most likely is) a lie.
American culture seems to revolve around sticking it to the corpos. You see it in their games e.g. cyberpunk 2077, you see it in their movies, you see it in their politics.
Same, it's truly disturbing to see people throw away their hard earned money like that. It's sad.
Its amazing how this channel has grown over the years. I remember watching low quality interviews with Dan Lok students, and now we are watching this well produced documentary of sorts. Good job.
bro the dan lok video i remember that shit
@@bennettluria2198 I remember Coffeezilla videos getting recommended...I don't remember why. Goes to show that the algorithm some times works.
Just serves as evidence What happens when you Just Keep Going .....
Dude the Dan Lok videos were great. Coffee deserves the growth and views, he's put in a ton of work over the years.
@@bedtimestories1065 When I said low quality, I meant the visual quality, not the quality of the content itself. Coffeezilla deserves the success.