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Leaked WhatsApp Chats Show Celsius Gambled $8M Weekly to Sustain CEL 3m ago by

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According to reports, the founders spent over $8 million weekly to sustain CEL’s value.

WhatsApp messages expose Celsius Network founders artificially inflating CEL token price.

There are also allegations of them manipulating user holdings to boost CEL token holders count.

In a recent revelation, Keith, a volunteer analyst assisting Celsius creditors in deciphering the intricacies of the company’s financials and business documents, shared a series of eye-opening insights.

These insights stem from WhatsApp conversations between Celsius Network fonder Alex Mashinsky and Roni Pavon, the firm’s former Chief Revenue Officer, in 2021. The discussion particularly centered around the manipulative tactics related to the price of the company’s native token, CEL.

Alex and Roni Pavon back in 2021 discussing that CEL price was FAKE and based on Celsius themselves spending millions per week keeping the price up. Alex was clearly upset that CEL was not attracting legitimate interest and the Sell side volume far exceeded any buys.

— Keith (@ChazzonKe) September 7, 2023

Based on the conversation, Mashinsky and Pavo…

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