Not a crypto guy but this cannot be good

[Huntingfool]

https://www.yahoo.com/finance/news/m-millions-dollars-thousands-crypto-223605273.html

[Hammerdown]

Yeah that would suck big time.

[airehead]

Ouch

[67olds442]

They shoulda known this was going to happen. It’s a gamble.

[Bassdeer]

Not a crypto guy but this cannot be good.

Robert's not a crypto guy anymore either.

[bbqfan5909]

Smells like the next dot.com bust.

[flywise]

Oh well
If you dont research the company your trusting with your money you might deserve what you get.

[BigRed323]

You shouldn’t put into crypto what you can’t afford to lose.

[Xring]

Hard to have too much sympathy for people playing the crypto game. Yes, it sucks, but most of these people were just looking for a quick payday. If it sounds too good to be true…

I do, however, have some sympathy for people in this particular situation because it sounds like they were misled by the company advertising and their deposits were not FDIC insured like the company claimed.

[BlessedVeteran0305]

Sounds like a wolf of wallstreet type deal.

[Pedernal]

This is bad for a lot of folks not just some multimillionaires that have a few less millions. It’s unfortunate that folks are still falling for get rich fast schemes.

[Tmag]

Seems coffee cans with cash buried in the backyard are safer these days.

[ORIONTHEHUNTER]

Looks like some of the scams members on here were running a while back

[TeamAmerica]

What could go wrong when your bank lends $600M to one borrower with zero collateral?

Celsius was charging less interest on loans than they were paying for deposits. Just more bad actors and people not diversifying their assets among several institutions. If interest on deposits sounds too good to be true.. well....

Sent from my SM-G991U1 using Tapatalk

[RiverRat1]

Oh well
If you dont research the company your trusting with your money you might deserve what you get.

And how were people supposed to know they were not FDIC insured like the company told them they were?

Will it be your fault when the bank you use takes all your money? Or your fault when whatever broker (E-trade, Fidelity, IB etc) has your retirement money goes BK? How do you know they are FDIC insured like they claim to be?

You shouldn’t put into crypto what you can’t afford to lose.

The crypto being bought isn't what went to zero, the broker they were using to buy crypto went bankrupt.